Boenning & Scattergood Inc. grew its holdings in AbbVie Inc (NYSE:ABBV) by 15.4% in the third quarter, Holdings Channel reports. The institutional investor owned 73,675 shares of the company’s stock after acquiring an additional 9,858 shares during the quarter. AbbVie accounts for 1.6% of Boenning & Scattergood Inc.’s holdings, making the stock its 10th largest holding. Boenning & Scattergood Inc.’s holdings in AbbVie were worth $5,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also bought and sold shares of ABBV. Weaver Consulting Group acquired a new position in shares of AbbVie in the 1st quarter valued at $25,000. Arbor Wealth Management LLC acquired a new position in shares of AbbVie in the 2nd quarter valued at $28,000. Lowe Wealth Advisors LLC lifted its stake in shares of 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 purchasing an additional 310 shares during the last quarter. Horrell Capital Management Inc. acquired a new position in shares of AbbVie in the 2nd quarter valued at $33,000. Finally, TD Capital Management LLC acquired a new position in shares of AbbVie in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 68.24% of the company’s stock.
ABBV opened at $74.01 on Tuesday. The stock’s 50-day moving average price is $70.84 and its 200 day moving average price is $73.78. AbbVie Inc has a 12-month low of $62.66 and a 12-month high of $94.98. The firm has a market cap of $108.86 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 1.50 and a beta of 0.99.
The business also recently declared a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a yield of 6.4%. AbbVie’s dividend payout ratio (DPR) is 54.11%.
In related news, Director Roxanne S. Austin purchased 55,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were bought at an average price of $65.86 per share, for a total transaction of $3,622,300.00. Following the acquisition, the director now directly owns 92,114 shares in the company, valued at $6,066,628.04. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Henry O. Gosebruch purchased 30,000 shares of the business’s stock in a transaction on Monday, July 29th. The shares were bought at an average price of $67.28 per share, for a total transaction of $2,018,400.00. Following the acquisition, the executive vice president now owns 75,763 shares in the company, valued at $5,097,334.64. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 183,077 shares of company stock worth $10,705,751. 0.08% of the stock is owned by company insiders.
Several equities analysts have recently commented on the company. ValuEngine raised AbbVie from a “strong sell” rating to a “sell” rating in a research note on Monday, September 30th. TheStreet lowered AbbVie from a “b-” rating to a “c” rating in a research note on Monday, August 26th. Leerink Swann raised AbbVie to a “buy” rating in a research note on Tuesday, July 2nd. UBS Group raised AbbVie from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $85.00 to $79.00 in a research note on Thursday, September 12th. Finally, Piper Jaffray Companies increased their target price on AbbVie from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $89.97.
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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