Klingenstein Fields & Co. LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 1.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,850 shares of the company’s stock after selling 394 shares during the period. Klingenstein Fields & Co. LLC’s holdings in AbbVie were worth $1,512,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of ABBV. Bbva Compass Bancshares Inc. grew its holdings in AbbVie by 1.7% in the 2nd quarter. Bbva Compass Bancshares Inc. now owns 38,975 shares of the company’s stock valued at $2,826,000 after buying an additional 669 shares in the last quarter. Spinnaker Trust grew its holdings in AbbVie by 42.2% in the 2nd quarter. Spinnaker Trust now owns 4,630 shares of the company’s stock valued at $336,000 after buying an additional 1,374 shares in the last quarter. American Trust Investment Advisors LLC grew its holdings in AbbVie by 2.1% in the 2nd quarter. American Trust Investment Advisors LLC now owns 4,865 shares of the company’s stock valued at $353,000 after buying an additional 100 shares in the last quarter. Sanders Capital LLC grew its holdings in AbbVie by 0.7% in the 2nd quarter. Sanders Capital LLC now owns 627,533 shares of the company’s stock valued at $45,502,000 after buying an additional 4,400 shares in the last quarter. Finally, Eagle Global Advisors LLC grew its holdings in AbbVie by 22.0% in the 2nd quarter. Eagle Global Advisors LLC now owns 13,478 shares of the company’s stock valued at $977,000 after buying an additional 2,433 shares in the last quarter. Institutional investors and hedge funds own 68.26% of the company’s stock.
Shares of AbbVie Inc. (NYSE:ABBV) opened at 92.38 on Thursday. The firm has a market capitalization of $147.26 billion, a price-to-earnings ratio of 22.72 and a beta of 1.51. AbbVie Inc. has a 1-year low of $55.06 and a 1-year high of $92.61. The company has a 50-day moving average price of $84.02 and a 200 day moving average price of $72.55.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, July 28th. The company reported $1.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.02. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The business had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the previous year, the business earned $1.26 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. On average, equities research analysts predict that AbbVie Inc. will post $5.53 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 2.77%. The ex-dividend date is Thursday, October 12th. AbbVie’s payout ratio is 62.90%.
A number of research analysts have commented on ABBV shares. Vetr lowered AbbVie from a “buy” rating to a “hold” rating and set a $72.72 price objective on the stock. in a report on Wednesday, June 14th. Societe Generale raised AbbVie from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Leerink Swann reaffirmed a “market perform” rating on shares of AbbVie in a report on Thursday, June 22nd. Zacks Investment Research lowered AbbVie from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $94.00 price objective (up from $92.00) on shares of AbbVie in a report on Monday, July 17th. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. AbbVie presently has an average rating of “Buy” and an average target price of $90.49.
In other news, VP Robert A. Michael sold 6,699 shares of the company’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the transaction, the vice president now directly owns 10,007 shares in the company, valued at approximately $880,616. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Henry O. Gosebruch sold 18,000 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $70.09, for a total value of $1,261,620.00. Following the completion of the transaction, the insider now owns 96,074 shares of the company’s stock, valued at $6,733,826.66. 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. 0.23% of the stock is owned by company insiders.
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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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