K.J. Harrison & Partners Inc continued to hold its stake in shares of AbbVie Inc. (NYSE:ABBV) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,000 shares of the company’s stock at the end of the second quarter. K.J. Harrison & Partners Inc’s holdings in AbbVie were worth $310,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in ABBV. Green Square Capital LLC increased its stake in shares of AbbVie by 0.7% in the second quarter. Green Square Capital LLC now owns 69,843 shares of the company’s stock valued at $4,324,000 after buying an additional 459 shares during the period. Canandaigua National Bank & Trust Co. increased its stake in shares of AbbVie by 4.8% in the second quarter. Canandaigua National Bank & Trust Co. now owns 34,592 shares of the company’s stock valued at $2,142,000 after buying an additional 1,596 shares during the period. First Merchants Corp increased its stake in shares of AbbVie by 2.7% in the second quarter. First Merchants Corp now owns 33,276 shares of the company’s stock valued at $2,059,000 after buying an additional 860 shares during the period. HL Financial Services LLC increased its stake in shares of AbbVie by 5.5% in the second quarter. HL Financial Services LLC now owns 420,788 shares of the company’s stock valued at $26,051,000 after buying an additional 22,108 shares during the period. Finally, NewSquare Capital LLC increased its stake in shares of AbbVie by 14.7% in the second quarter. NewSquare Capital LLC now owns 12,446 shares of the company’s stock valued at $771,000 after buying an additional 1,596 shares during the period. 68.35% of the stock is currently owned by institutional investors.
AbbVie Inc. (NYSE:ABBV) traded down 0.05% on Monday, reaching $60.14. 6,138,658 shares of the company’s stock were exchanged. AbbVie Inc. has a 12 month low of $45.45 and a 12 month high of $68.12. The firm has a market cap of $97.94 billion, a PE ratio of 17.35 and a beta of 1.50. The firm’s 50-day moving average is $63.38 and its 200-day moving average is $62.78.
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 business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same period last year, the business posted $1.08 earnings per share. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. On average, equities analysts forecast that AbbVie Inc. will post $4.81 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be issued a dividend of $0.57 per share. 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 65.71%.
Several brokerages have issued reports on ABBV. Jefferies Group reissued a “buy” rating and set a $90.00 target price on shares of AbbVie in a research note on Wednesday, October 5th. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Wednesday, September 28th. Goldman Sachs Group Inc. reissued a “buy” rating and set a $78.00 target price on shares of AbbVie in a research note on Tuesday, September 27th. Vetr upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $72.59 price target on the stock in a report on Thursday, September 8th. Finally, JPMorgan Chase & Co. cut shares of AbbVie from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $75.00 to $73.00 in a report on Thursday, September 8th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $70.68.
In related news, insider Laura J. Schumacher sold 50,000 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $65.00, for a total transaction of $3,250,000.00. Following the sale, the insider now directly owns 144,138 shares in the company, valued at $9,368,970. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.11% of the company’s stock.
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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