Coldstream Capital Management Inc. reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,721 shares of the company’s stock after selling 800 shares during the period. Coldstream Capital Management Inc.’s holdings in AbbVie were worth $2,645,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of AbbVie by 0.7% in the first quarter. Geode Capital Management LLC now owns 13,051,181 shares of the company’s stock valued at $743,963,000 after buying an additional 93,719 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of AbbVie by 52.4% in the second quarter. Ameriprise Financial Inc. now owns 10,364,784 shares of the company’s stock valued at $641,739,000 after buying an additional 3,562,980 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of AbbVie by 2.1% in the first quarter. Franklin Resources Inc. now owns 5,623,069 shares of the company’s stock valued at $321,188,000 after buying an additional 115,458 shares during the last quarter. Orbis Allan Gray Ltd bought a new position in shares of AbbVie during the first quarter valued at about $281,766,000. Finally, Swiss National Bank boosted its position in shares of AbbVie by 6.3% in the second quarter. Swiss National Bank now owns 4,516,229 shares of the company’s stock valued at $279,600,000 after buying an additional 269,100 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% on Friday, reaching $60.17. The company had a trading volume of 5,606,474 shares. The company has a market capitalization of $97.99 billion, a price-to-earnings ratio of 17.36 and a beta of 1.50. AbbVie Inc. has a 12 month low of $45.45 and a 12 month high of $68.12. The stock has a 50 day moving average price of $63.50 and a 200-day moving average price of $62.68.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.06. The business had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.20 billion. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. The company’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 EPS. Analysts forecast that AbbVie Inc. will post $4.81 EPS for the current fiscal year.
The business 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. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Wednesday, October 12th. AbbVie’s payout ratio is 65.71%.
Several equities analysts have recently issued reports on ABBV shares. 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. Vetr cut AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.75 target price for the company. in a research note on Wednesday, June 29th. BMO Capital Markets restated a “market perform” rating and set a $66.00 target price on shares of AbbVie in a research note on Friday, July 29th. Credit Suisse Group AG restated a “buy” rating on shares of AbbVie in a research note on Sunday, July 10th. Finally, Jefferies Group restated a “buy” rating and set a $90.00 target price on shares of AbbVie in a research note on Wednesday, October 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $70.68.
In related news, insider Laura J. Schumacher sold 50,000 shares of AbbVie stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $65.00, for a total value of $3,250,000.00. Following the transaction, the insider now directly owns 144,138 shares in the company, valued at approximately $9,368,970. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is 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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