Dimensional Fund Advisors LP increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,318,266 shares of the company’s stock after buying an additional 41,178 shares during the period. Dimensional Fund Advisors LP owned 0.21% of AbbVie worth $205,434,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Personal Financial Services boosted its position in AbbVie by 85.1% in the second quarter. First Personal Financial Services now owns 2,236 shares of the company’s stock valued at $138,000 after buying an additional 1,028 shares during the period. Schmidt P J Investment Management Inc. boosted its position in AbbVie by 0.6% in the second quarter. Schmidt P J Investment Management Inc. now owns 90,974 shares of the company’s stock valued at $5,632,000 after buying an additional 521 shares during the period. Sandy Spring Bank boosted its position in AbbVie by 4.2% in the second quarter. Sandy Spring Bank now owns 99,453 shares of the company’s stock valued at $6,196,000 after buying an additional 4,039 shares during the period. Taylor Cottrill Erickson & Associates Inc. bought a new position in AbbVie during the second quarter valued at about $2,663,000. Finally, Modera Wealth Management LLC raised its stake in AbbVie by 2.3% in the second quarter. Modera Wealth Management LLC now owns 3,989 shares of the company’s stock valued at $247,000 after buying an additional 91 shares in the last quarter. Institutional investors and hedge funds own 68.35% of the company’s stock.
AbbVie Inc. (NYSE:ABBV) opened at 61.55 on Wednesday. The company has a 50-day moving average of $63.29 and a 200-day moving average of $62.81. The firm has a market capitalization of $100.24 billion, a price-to-earnings ratio of 17.75 and a beta of 1.50. AbbVie Inc. has a 1-year low of $45.45 and a 1-year high of $68.12.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.06. AbbVie had a net margin of 23.11% and a return on equity of 161.46%. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same period in the prior year, the firm posted $1.08 earnings per share. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, equities analysts predict that AbbVie Inc. will post $4.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Wednesday, October 12th. AbbVie’s dividend payout ratio (DPR) is currently 65.71%.
ABBV has been the subject of several recent research reports. Vetr raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $67.14 target price for the company in a research note on Monday, July 18th. Credit Suisse Group AG reissued a “buy” rating on shares of AbbVie in a research note on Sunday, July 10th. Jefferies Group reissued a “buy” rating on shares of AbbVie in a research note on Thursday, August 25th. Argus reissued a “buy” rating and set a $85.00 target price on shares of AbbVie in a research note on Monday, August 8th. Finally, Goldman Sachs Group Inc. reissued a “buy” rating and set a $78.00 target price on shares of AbbVie in a research note on Thursday, September 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $70.64.
In other AbbVie news, insider Laura J. Schumacher sold 50,000 shares of the company’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 of the company’s stock, valued at $9,368,970. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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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