LaFleur & Godfrey LLC lowered its stake in shares of AbbVie Inc (NYSE:ABBV) by 1.5% during the second quarter, Holdings Channel reports. The firm owned 107,868 shares of the company’s stock after selling 1,695 shares during the period. AbbVie makes up approximately 2.0% of LaFleur & Godfrey LLC’s investment portfolio, making the stock its 20th largest position. LaFleur & Godfrey LLC’s holdings in AbbVie were worth $7,844,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in ABBV. Weaver Consulting Group acquired a new position in AbbVie in the 1st quarter valued at $25,000. Arbor Wealth Management LLC acquired a new position in AbbVie in the 2nd quarter valued at $28,000. Lowe Wealth Advisors LLC increased its stake in AbbVie by 206.7% in the 2nd quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock valued at $33,000 after buying an additional 310 shares during the period. Horrell Capital Management Inc. acquired a new position in AbbVie in the 2nd quarter valued at $33,000. Finally, TD Capital Management LLC acquired a new position in AbbVie in the 2nd quarter valued at $33,000. 68.15% of the stock is currently owned by institutional investors.
Several brokerages have issued reports on ABBV. ValuEngine cut shares of AbbVie from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 26th. Piper Jaffray Companies boosted their target price on shares of AbbVie from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Wolfe Research upgraded shares of AbbVie from an “underperform” rating to a “peer perform” rating in a research report on Thursday, June 27th. Svb Leerink upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price objective on the stock in a research report on Wednesday, June 26th. Finally, TheStreet lowered shares of AbbVie from a “b-” rating to a “c” rating in a research report on Monday, August 26th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $91.20.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.21 by $0.05. The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.09 billion. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.00 EPS. As a group, research analysts forecast that AbbVie Inc will post 8.9 earnings per share for the current fiscal year.
The company also recently announced a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $1.07 dividend. The ex-dividend date is Friday, October 11th. This represents a yield of 6.4%. AbbVie’s dividend payout ratio (DPR) is 54.11%.
In other news, Vice Chairman Laura J. Schumacher bought 25,000 shares of AbbVie stock in a transaction on Monday, September 16th. The shares were bought at an average cost of $70.42 per share, for a total transaction of $1,760,500.00. Following the acquisition, the insider now owns 164,838 shares in the company, valued at $11,607,891.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nicholas Donoghoe bought 7,525 shares of AbbVie stock in a transaction on Thursday, August 29th. The stock was purchased at an average price of $66.19 per share, for a total transaction of $498,079.75. Following the completion of the acquisition, the senior vice president now owns 13,090 shares in the company, valued at approximately $866,427.10. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 184,977 shares of company stock worth $12,387,121. 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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