Modera Wealth Management LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.3% during the second quarter, Holdings Channel reports. The firm owned 3,989 shares of the company’s stock after buying an additional 91 shares during the period. Modera Wealth Management LLC’s holdings in AbbVie were worth $247,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the stock. Alexandria Capital LLC boosted its stake in AbbVie by 0.3% in the second quarter. Alexandria Capital LLC now owns 4,543 shares of the company’s stock valued at $281,000 after buying an additional 14 shares during the period. Bollard Group LLC boosted its stake in AbbVie by 0.5% in the second quarter. Bollard Group LLC now owns 3,693 shares of the company’s stock valued at $229,000 after buying an additional 17 shares during the period. Lathrop Investment Management Corp boosted its stake in AbbVie by 0.3% in the second quarter. Lathrop Investment Management Corp now owns 6,335 shares of the company’s stock valued at $392,000 after buying an additional 21 shares during the period. Texan Capital Management boosted its stake in AbbVie by 0.4% in the second quarter. Texan Capital Management now owns 8,312 shares of the company’s stock valued at $515,000 after buying an additional 33 shares during the period. Finally, Zions Bancorporation boosted its stake in AbbVie by 0.4% in the first quarter. Zions Bancorporation now owns 8,271 shares of the company’s stock valued at $478,000 after buying an additional 34 shares during the period. Institutional investors own 68.35% of the company’s stock.
AbbVie Inc. (NYSE:ABBV) opened at 60.17 on Monday. AbbVie Inc. has a 52 week low of $45.45 and a 52 week high of $68.12. The company’s 50-day moving average price is $63.50 and its 200 day moving average price is $62.68. 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 results on Friday, July 29th. The company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.06. The company had revenue of $6.43 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company posted $1.08 earnings per share. On average, analysts anticipate that AbbVie Inc. will post $4.81 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders 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 dividend yield of 3.79%. AbbVie’s dividend payout ratio (DPR) is 65.71%.
A number of analysts have recently issued reports on ABBV shares. Credit Suisse Group AG reiterated a “buy” rating on shares of AbbVie in a report on Sunday, July 10th. Argus reiterated a “buy” rating and set a $85.00 target price on shares of AbbVie in a report on Monday, August 8th. Vetr upgraded AbbVie from a “hold” rating to a “buy” rating and set a $67.14 target price for the company in a report on Monday, July 18th. Zacks Investment Research upgraded AbbVie from a “sell” rating to a “hold” rating in a report on Wednesday, June 29th. Finally, Barclays PLC reiterated an “equal weight” rating and set a $68.00 target price on shares of AbbVie in a report on Tuesday, August 2nd. One investment 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. AbbVie currently has a consensus rating of “Buy” and an average price target of $70.68.
In related news, insider Laura J. Schumacher sold 50,000 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $65.00, for a total transaction of $3,250,000.00. Following the sale, the insider now owns 144,138 shares in the company, valued at $9,368,970. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is owned by 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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