Wagner Bowman Management Corp decreased its position in AbbVie Inc. (NYSE:ABBV) by 0.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 16,402 shares of the company’s stock after selling 141 shares during the period. Wagner Bowman Management Corp’s holdings in AbbVie were worth $1,015,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Atalanta Sosnoff Capital LLC purchased a new position in AbbVie during the second quarter worth approximately $20,759,000. Investment House LLC boosted its stake in shares of AbbVie by 1.0% in the second quarter. Investment House LLC now owns 102,661 shares of the company’s stock valued at $6,356,000 after buying an additional 1,048 shares during the last quarter. Pitcairn Co. boosted its stake in shares of AbbVie by 2.6% in the second quarter. Pitcairn Co. now owns 20,724 shares of the company’s stock valued at $1,283,000 after buying an additional 529 shares during the last quarter. Court Place Advisors LLC boosted its stake in shares of AbbVie by 30.3% in the second quarter. Court Place Advisors LLC now owns 16,701 shares of the company’s stock valued at $1,034,000 after buying an additional 3,883 shares during the last quarter. Finally, Douglas Lane & Associates LLC boosted its stake in shares of AbbVie by 5.2% in the second quarter. Douglas Lane & Associates LLC now owns 22,721 shares of the company’s stock valued at $1,407,000 after buying an additional 1,121 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.
AbbVie Inc. (NYSE:ABBV) traded down 1.60% during trading on Friday, hitting $60.17. The company had a trading volume of 5,606,474 shares. The company’s 50 day moving average price is $63.50 and its 200-day moving average price is $62.68. AbbVie Inc. has a 12 month low of $45.45 and a 12 month high of $68.12. The company has a market cap of $97.99 billion, a PE ratio of 17.36 and a beta of 1.50.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 29th. The company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.06. AbbVie had a net margin of 23.11% and a return on equity of 161.46%. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the previous year, the business posted $1.08 EPS. The firm’s revenue was up 17.8% compared to the same quarter last year. Equities analysts expect that AbbVie Inc. will post $4.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be issued a $0.57 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $2.28 dividend on an annualized basis and a yield of 3.79%. AbbVie’s dividend payout ratio is currently 65.71%.
Several analysts have recently issued reports on ABBV shares. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research note on Wednesday, September 28th. Jefferies Group reiterated a “buy” rating and issued a $90.00 price objective on shares of AbbVie in a research note on Wednesday, October 5th. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $78.00 price objective on shares of AbbVie in a research note on Tuesday, September 27th. JPMorgan Chase & Co. cut AbbVie from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $75.00 to $73.00 in a research note on Thursday, September 8th. They noted that the move was a valuation call. Finally, Vetr upgraded AbbVie from a “hold” rating to a “buy” rating and set a $67.63 price objective on the stock in a research note on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $70.68.
In other news, insider Laura J. Schumacher sold 50,000 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $65.00, for a total value of $3,250,000.00. Following the sale, the insider now owns 144,138 shares in the company, valued at approximately $9,368,970. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.11% of the stock is currently owned by company insiders.
AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company operates in pharmaceutical products segment. Its products are focused on treating conditions, such as chronic autoimmune diseases, in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions.
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