Capital Advisors Inc. OK held its stake in shares of AbbVie Inc. (NYSE:ABBV) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 13,148 shares of the company’s stock at the end of the second quarter. Capital Advisors Inc. OK’s holdings in AbbVie were worth $814,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Acropolis Investment Management LLC purchased a new stake in shares of AbbVie during the second quarter worth approximately $106,000. CapWealth Advisors LLC increased its stake in shares of AbbVie by 55.2% in the first quarter. CapWealth Advisors LLC now owns 1,797 shares of the company’s stock worth $103,000 after buying an additional 639 shares during the last quarter. Glassman Wealth Services increased its stake in shares of AbbVie by 221.1% in the second quarter. Glassman Wealth Services now owns 1,824 shares of the company’s stock worth $113,000 after buying an additional 1,256 shares during the last quarter. Cypress Capital Management LLC WY purchased a new stake in shares of AbbVie during the second quarter worth approximately $114,000. Finally, Hartford Financial Management Inc. increased its stake in shares of AbbVie by 100.0% in the second quarter. Hartford Financial Management Inc. now owns 1,958 shares of the company’s stock worth $115,000 after buying an additional 979 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.
Shares of AbbVie Inc. (NYSE:ABBV) traded down 1.60% during trading on Friday, hitting $60.17. 5,606,474 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $63.50 and its 200 day moving average is $62.68. AbbVie Inc. has a 1-year low of $45.45 and a 1-year high of $68.12. The firm has a market capitalization of $97.99 billion, a PE ratio of 17.36 and a beta of 1.50.
AbbVie (NYSE:ABBV) last released its earnings results 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 business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.20 billion. During the same period in the previous year, the firm earned $1.08 EPS. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, equities research analysts forecast that AbbVie Inc. will post $4.81 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.79%. AbbVie’s payout ratio is currently 65.71%.
A number of research analysts have issued reports on ABBV shares. Barclays PLC reaffirmed an “equal weight” rating and issued a $68.00 target price on shares of AbbVie in a report on Tuesday, August 2nd. Jefferies Group reaffirmed a “buy” rating on shares of AbbVie in a report on Thursday, August 4th. Argus reaffirmed a “buy” rating and issued a $85.00 target price on shares of AbbVie in a report on Monday, August 8th. Vetr cut shares of AbbVie from a “buy” rating to a “hold” rating and set a $67.14 target price for the company. in a report on Tuesday, July 12th. Finally, Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $78.00 target price on shares of AbbVie in a report on Thursday, September 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $70.68.
In related news, insider Laura J. Schumacher sold 50,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 144,138 shares in the company, valued at approximately $9,368,970. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is currently owned by corporate 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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