First Personal Financial Services raised its position in AbbVie Inc. (NYSE:ABBV) by 85.1% during the second quarter, Holdings Channel reports. The fund owned 2,236 shares of the company’s stock after buying an additional 1,028 shares during the period. First Personal Financial Services’ holdings in AbbVie were worth $138,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Pacad Investment Ltd. raised its position in AbbVie by 295.1% in the first quarter. Pacad Investment Ltd. now owns 82,939 shares of the company’s stock worth $4,737,000 after buying an additional 61,947 shares during the last quarter. CIBC World Markets Inc. raised its position in AbbVie by 19.1% in the first quarter. CIBC World Markets Inc. now owns 309,417 shares of the company’s stock worth $17,674,000 after buying an additional 49,695 shares during the last quarter. Raab & Moskowitz Asset Management LLC raised its position in AbbVie by 0.8% in the first quarter. Raab & Moskowitz Asset Management LLC now owns 12,166 shares of the company’s stock worth $694,000 after buying an additional 92 shares during the last quarter. Edmp Inc. raised its position in AbbVie by 4.7% in the first quarter. Edmp Inc. now owns 31,600 shares of the company’s stock worth $1,805,000 after buying an additional 1,420 shares during the last quarter. Finally, Hyman Charles D bought a new position in AbbVie during the first quarter worth $1,287,000. Institutional investors own 68.35% of the company’s stock.
Shares of AbbVie Inc. (NYSE:ABBV) opened at 61.55 on Wednesday. The stock has a market capitalization of $100.24 billion, a PE ratio of 17.75 and a beta of 1.50. AbbVie Inc. has a 52 week low of $45.45 and a 52 week high of $68.12. The company has a 50-day moving average price of $63.29 and a 200 day moving average price of $62.81.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 29th. The company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.06. The company earned $6.43 billion during the quarter, compared to the consensus estimate of $6.20 billion. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. AbbVie’s 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. Equities analysts forecast that AbbVie Inc. will post $4.81 EPS for the current fiscal year.
The firm also recently declared 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 of this dividend is Wednesday, October 12th. This represents a $2.28 annualized dividend and a yield of 3.70%. AbbVie’s dividend payout ratio (DPR) is presently 65.71%.
Several brokerages have recently commented on ABBV. Credit Suisse Group AG reissued a “buy” rating on shares of AbbVie in a report on Sunday, July 10th. Leerink Swann began coverage on AbbVie in a report on Tuesday. They set a “market perform” rating and a $70.00 price objective for the company. Argus reissued a “buy” rating and set a $85.00 price objective on shares of AbbVie in a report on Monday, August 8th. Vetr raised AbbVie from a “hold” rating to a “buy” rating and set a $67.14 price objective for the company in a report on Monday, July 18th. Finally, Zacks Investment Research raised AbbVie from a “sell” rating to a “hold” rating in a report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $70.64.
In other news, insider Laura J. Schumacher sold 50,000 shares of the business’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 completion of the sale, the insider now directly owns 144,138 shares of the company’s stock, valued at approximately $9,368,970. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is 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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