CGN Advisors LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,283 shares of the company’s stock after buying an additional 94 shares during the period. CGN Advisors LLC’s holdings in AbbVie were worth $577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goepper Burkhardt LLC lifted its stake in shares of AbbVie by 1.9% in the 4th quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock valued at $567,000 after purchasing an additional 67 shares in the last quarter. Naviter Wealth LLC lifted its position in AbbVie by 0.9% during the first quarter. Naviter Wealth LLC now owns 7,378 shares of the company’s stock valued at $1,176,000 after buying an additional 68 shares in the last quarter. Delta Financial Group Inc. increased its position in shares of AbbVie by 1.2% in the first quarter. Delta Financial Group Inc. now owns 5,757 shares of the company’s stock worth $917,000 after acquiring an additional 68 shares in the last quarter. Sand Hill Global Advisors LLC lifted its holdings in shares of AbbVie by 0.4% during the 1st quarter. Sand Hill Global Advisors LLC now owns 18,755 shares of the company’s stock valued at $2,989,000 after acquiring an additional 68 shares in the last quarter. Finally, Kistler Tiffany Companies LLC increased its holdings in AbbVie by 0.6% in the 1st quarter. Kistler Tiffany Companies LLC now owns 12,314 shares of the company’s stock valued at $1,963,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 67.86% of the company’s stock.
Insider Buying and Selling at AbbVie
In related news, CEO Richard A. Gonzalez sold 18,500 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $149.15, for a total value of $2,759,275.00. Following the completion of the transaction, the chief executive officer now directly owns 625,294 shares of the company’s stock, valued at approximately $93,262,600.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is owned by company insiders.
AbbVie Stock Performance
AbbVie (NYSE:ABBV – Get Free Report) last issued its earnings results on Thursday, July 27th. The company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.12. AbbVie had a return on equity of 151.29% and a net margin of 15.50%. The firm had revenue of $13.87 billion for the quarter, compared to analyst estimates of $13.52 billion. As a group, analysts anticipate that AbbVie Inc. will post 11.03 EPS for the current year.
AbbVie Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 3.89%. The ex-dividend date is Thursday, October 12th. AbbVie’s dividend payout ratio (DPR) is 121.81%.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on ABBV. Piper Jaffray Companies raised their target price on AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, July 28th. StockNews.com started coverage on shares of AbbVie in a research report on Thursday, August 17th. They issued a “strong-buy” rating for the company. William Blair began coverage on AbbVie in a research note on Tuesday, July 25th. They set a “market perform” rating for the company. TheStreet upgraded AbbVie from a “c+” rating to a “b” rating in a research note on Monday, August 28th. Finally, HSBC began coverage on AbbVie in a research note on Friday, July 14th. They set a “buy” rating and a $167.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $165.79.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.
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