AbbVie Inc (ABBV) Position Boosted by Gratus Capital LLC

Gratus Capital LLC boosted its holdings in AbbVie Inc (NYSE:ABBV) by 2.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,701 shares of the company’s stock after buying an additional 2,178 shares during the quarter. AbbVie makes up about 1.1% of Gratus Capital LLC’s holdings, making the stock its 16th largest position. Gratus Capital LLC’s holdings in AbbVie were worth $7,662,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Captrust Financial Advisors grew its holdings in shares of AbbVie by 24.2% during the second quarter. Captrust Financial Advisors now owns 99,480 shares of the company’s stock worth $9,217,000 after purchasing an additional 19,371 shares during the last quarter. Peak Capital Management LLC purchased a new position in shares of AbbVie during the second quarter worth about $988,000. AGF Investments Inc. grew its holdings in shares of AbbVie by 11.1% during the second quarter. AGF Investments Inc. now owns 1,684,226 shares of the company’s stock worth $156,044,000 after purchasing an additional 168,889 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of AbbVie by 3.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 137,538 shares of the company’s stock worth $12,744,000 after purchasing an additional 4,186 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board grew its holdings in shares of AbbVie by 32.4% during the second quarter. Ontario Teachers Pension Plan Board now owns 89,175 shares of the company’s stock worth $8,262,000 after purchasing an additional 21,827 shares during the last quarter. 69.44% of the stock is currently owned by hedge funds and other institutional investors.

NYSE ABBV opened at $87.97 on Friday. The company has a debt-to-equity ratio of -9.06, a quick ratio of 0.71 and a current ratio of 0.80. AbbVie Inc has a 52-week low of $85.24 and a 52-week high of $125.86. The stock has a market cap of $139.72 billion, a P/E ratio of 15.71, a P/E/G ratio of 0.91 and a beta of 1.54.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 27th. The company reported $2.00 EPS for the quarter, beating the Zacks’ consensus estimate of $1.98 by $0.02. The firm had revenue of $8.28 billion during the quarter, compared to the consensus estimate of $8.22 billion. AbbVie had a net margin of 20.84% and a return on equity of 362.05%. The firm’s revenue was up 19.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.42 earnings per share. Analysts predict that AbbVie Inc will post 7.86 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be given a $0.96 dividend. The ex-dividend date is Friday, October 12th. This represents a $3.84 dividend on an annualized basis and a yield of 4.37%. AbbVie’s payout ratio is currently 68.57%.

ABBV has been the topic of a number of research reports. BMO Capital Markets reissued a “sell” rating and set a $78.00 price target on shares of AbbVie in a report on Wednesday, August 22nd. Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a report on Saturday, July 14th. Bank of America raised their price target on AbbVie from $105.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, August 22nd. Credit Suisse Group raised AbbVie to a “hold” rating and set a $89.00 price target on the stock in a report on Friday, July 13th. Finally, Jefferies Financial Group set a $100.00 price target on AbbVie and gave the stock a “buy” rating in a report on Sunday, July 15th. Five analysts have rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $106.98.

In related news, EVP Michael Severino sold 50,000 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $97.52, for a total value of $4,876,000.00. Following the completion of the sale, the executive vice president now owns 111,481 shares in the company, valued at $10,871,627.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.07% of the stock is owned by company insiders.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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