Cohen Lawrence B purchased a new position in AbbVie Inc (NYSE:ABBV) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,849 shares of the company’s stock, valued at approximately $353,000.
Other large investors have also modified their holdings of the company. Prime Capital Investment Advisors LLC acquired a new stake in AbbVie in the 4th quarter worth about $27,000. Weaver Consulting Group acquired a new stake in AbbVie in the 1st quarter worth about $25,000. Arbor Wealth Management LLC acquired a new position in shares of AbbVie in the 2nd quarter valued at about $28,000. Horrell Capital Management Inc. acquired a new position in shares of AbbVie in the 2nd quarter valued at about $33,000. Finally, Capital Financial Planning LLC acquired a new position in shares of AbbVie in the 4th quarter valued at about $41,000. 68.15% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on ABBV shares. Svb Leerink raised AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price objective on the stock in a research note on Wednesday, June 26th. Wolfe Research raised AbbVie from an “underperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Credit Suisse Group set a $78.00 price objective on AbbVie and gave the company a “sell” rating in a research note on Friday, April 26th. Leerink Swann raised AbbVie to a “buy” rating in a research note on Tuesday, July 2nd. Finally, ValuEngine lowered AbbVie from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 26th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. AbbVie has an average rating of “Hold” and an average price target of $92.05.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.05. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The company had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same period in the previous year, the business earned $2.00 EPS. AbbVie’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, research analysts anticipate that AbbVie Inc will post 8.88 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a dividend of $1.07 per share. The ex-dividend date is Friday, July 12th. This represents a $4.28 annualized dividend and a yield of 6.58%. AbbVie’s dividend payout ratio is presently 54.11%.
In other news, Director Roxanne S. Austin bought 55,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of $65.86 per share, for a total transaction of $3,622,300.00. Following the transaction, the director now owns 92,114 shares in the company, valued at $6,066,628.04. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP William J. Chase bought 30,400 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was purchased at an average price of $67.30 per share, with a total value of $2,045,920.00. Following the transaction, the executive vice president now owns 169,552 shares in the company, valued at approximately $11,410,849.60. The disclosure for this purchase can be found here. Insiders have acquired a total of 136,900 shares of company stock worth $9,126,370 over the last 90 days. 0.08% of the stock is owned by company insiders.
AbbVie Company Profile
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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