DekaBank Deutsche Girozentrale boosted its position in AbbVie Inc (NYSE:ABBV) by 131.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 903,992 shares of the company’s stock after acquiring an additional 513,424 shares during the period. DekaBank Deutsche Girozentrale’s holdings in AbbVie were worth $63,756,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Lavaca Capital LLC grew its holdings in shares of AbbVie by 69.2% during the second quarter. Lavaca Capital LLC now owns 49,404 shares of the company’s stock worth $3,593,000 after purchasing an additional 20,213 shares in the last quarter. Horseman Capital Management Ltd grew its holdings in shares of AbbVie by 45.5% during the second quarter. Horseman Capital Management Ltd now owns 16,000 shares of the company’s stock worth $1,164,000 after purchasing an additional 5,000 shares in the last quarter. Ironwood Investment Counsel LLC grew its holdings in shares of AbbVie by 7.9% during the second quarter. Ironwood Investment Counsel LLC now owns 9,171 shares of the company’s stock worth $666,000 after purchasing an additional 675 shares in the last quarter. Cedar Wealth Management LLC purchased a new position in shares of AbbVie during the second quarter worth about $44,000. Finally, Ballentine Partners LLC grew its holdings in shares of AbbVie by 52.1% during the second quarter. Ballentine Partners LLC now owns 12,168 shares of the company’s stock worth $886,000 after purchasing an additional 4,169 shares in the last quarter. Institutional investors and hedge funds own 68.15% of the company’s stock.
Shares of ABBV opened at $65.01 on Wednesday. The stock has a market capitalization of $96.96 billion, a price-to-earnings ratio of 8.22, a P/E/G ratio of 1.56 and a beta of 0.96. The stock has a 50 day moving average price of $68.77. AbbVie Inc has a 1 year low of $63.31 and a 1 year high of $100.23.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 6.58%. The ex-dividend date of this dividend is Friday, July 12th. AbbVie’s dividend payout ratio is currently 54.11%.
Several research analysts have recently commented on ABBV shares. Svb Leerink raised AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a report on Wednesday, June 26th. Citigroup reissued a “hold” rating on shares of AbbVie in a report on Wednesday, June 26th. ValuEngine lowered AbbVie from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 26th. Leerink Swann raised AbbVie to a “buy” rating in a report on Tuesday, July 2nd. Finally, Wolfe Research raised AbbVie from an “underperform” rating to a “peer perform” rating in a report on Thursday, June 27th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. AbbVie presently has a consensus rating of “Hold” and an average price target of $92.05.
In related news, Director Roxanne S. Austin acquired 11,500 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was purchased at an average price of $67.50 per share, with a total value of $776,250.00. Following the completion of the purchase, the director now owns 52,114 shares in the company, valued at approximately $3,517,695. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP William J. Chase acquired 30,400 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were bought at an average cost of $67.30 per share, with a total value of $2,045,920.00. Following the purchase, the executive vice president now owns 169,552 shares of the company’s stock, valued at approximately $11,410,849.60. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 136,900 shares of company stock valued at $9,126,370. 0.08% of the stock is owned by insiders.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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