Bp Plc continued to hold its stake in AbbVie Inc. (NYSE:ABBV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,000 shares of the company’s stock at the end of the second quarter. Bp Plc’s holdings in AbbVie were worth $13,411,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in ABBV. Acropolis Investment Management LLC acquired a new stake in shares of AbbVie in the second quarter valued at approximately $106,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of AbbVie in the first quarter valued at approximately $108,000. Atwood & Palmer Inc. increased its holdings in shares of AbbVie by 1,333.3% in the first quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock valued at $140,000 after purchasing an additional 2,000 shares during the last quarter. Tradewinds Capital Management LLC increased its holdings in shares of AbbVie by 87.2% in the first quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock valued at $148,000 after purchasing an additional 1,057 shares during the last quarter. Finally, Exane Asset Management acquired a new stake in shares of AbbVie in the second quarter valued at approximately $181,000. 68.43% of the stock is owned by institutional investors and hedge funds.
Several research firms recently commented on ABBV. Zacks Investment Research cut AbbVie from a “buy” rating to a “hold” rating in a report on Friday, October 20th. BidaskClub cut AbbVie from a “strong-buy” rating to a “buy” rating in a report on Wednesday. UBS AG reaffirmed a “neutral” rating on shares of AbbVie in a report on Friday, October 13th. Barclays PLC increased their price target on AbbVie to $90.00 and gave the company an “equal weight” rating in a report on Friday, October 13th. Finally, Cowen and Company raised AbbVie from a “market perform” rating to an “outperform” rating and increased their price target for the company from $91.17 to $105.00 in a report on Wednesday, October 11th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $92.79.
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In related news, Chairman Richard A. Gonzalez sold 193,131 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $71.00, for a total value of $13,712,301.00. Following the completion of the sale, the chairman now directly owns 469,623 shares in the company, valued at approximately $33,343,233. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Robert A. Michael sold 6,699 shares of the stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the sale, the vice president now owns 10,007 shares of the company’s stock, valued at $880,616. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 379,890 shares of company stock valued at $27,187,817. Insiders own 0.23% of the company’s stock.
AbbVie Inc. (ABBV) opened at 91.69 on Wednesday. The stock’s 50 day moving average price is $88.69 and its 200 day moving average price is $74.42. AbbVie Inc. has a 52-week low of $55.06 and a 52-week high of $98.26. The stock has a market capitalization of $146.16 billion, a price-to-earnings ratio of 22.55 and a beta of 1.51.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 28th. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.02. The business had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.93 billion. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 EPS. On average, analysts forecast that AbbVie Inc. will post $5.53 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a dividend of $0.64 per share. The ex-dividend date is Thursday, October 12th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.79%. AbbVie’s payout ratio is 62.90%.
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. 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 virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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