Chicago Capital LLC increased its stake in shares of AbbVie Inc (NYSE:ABBV) by 12.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,181 shares of the company’s stock after purchasing an additional 2,646 shares during the period. Chicago Capital LLC’s holdings in AbbVie were worth $2,148,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Toronto Dominion Bank grew its position in shares of AbbVie by 12.4% in the 4th quarter. Toronto Dominion Bank now owns 733,942 shares of the company’s stock worth $70,979,000 after acquiring an additional 81,128 shares in the last quarter. Global X Management Co. LLC boosted its position in AbbVie by 17.6% during the 4th quarter. Global X Management Co. LLC now owns 27,521 shares of the company’s stock valued at $2,662,000 after purchasing an additional 4,124 shares during the period. Advisory Services Network LLC boosted its position in AbbVie by 29.4% during the 4th quarter. Advisory Services Network LLC now owns 50,626 shares of the company’s stock valued at $4,896,000 after purchasing an additional 11,512 shares during the period. Independence Bank of Kentucky acquired a new position in AbbVie during the 4th quarter valued at approximately $1,366,000. Finally, Baugh & Associates LLC acquired a new position in AbbVie during the 4th quarter valued at approximately $4,091,000. 68.53% of the stock is owned by hedge funds and other institutional investors.
In other AbbVie news, SVP Timothy J. Richmond sold 17,588 shares of AbbVie stock in a transaction on Friday, June 15th. The stock was sold at an average price of $99.47, for a total transaction of $1,749,478.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Glenn F. Tilton bought 5,400 shares of the business’s stock in a transaction on Wednesday, June 27th. The shares were acquired at an average cost of $91.90 per share, for a total transaction of $496,260.00. Following the purchase, the director now directly owns 39,735 shares in the company, valued at $3,651,646.50. The disclosure for this purchase can be found here. 0.07% of the stock is owned by insiders.
Shares of AbbVie stock opened at $97.63 on Tuesday. The company has a debt-to-equity ratio of -9.06, a quick ratio of 0.71 and a current ratio of 0.80. The firm has a market cap of $145.07 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 0.87 and a beta of 1.56. AbbVie Inc has a 1-year low of $69.91 and a 1-year high of $125.86.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 27th. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.02. The firm had revenue of $8.28 billion for the quarter, compared to the consensus estimate of $8.22 billion. AbbVie had a return on equity of 362.05% and a net margin of 20.84%. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.42 EPS. research analysts forecast that AbbVie Inc will post 7.86 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 15th. Shareholders of record on Friday, July 13th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.93%. The ex-dividend date was Thursday, July 12th. AbbVie’s payout ratio is currently 68.57%.
A number of research firms recently issued reports on ABBV. Berenberg Bank began coverage on AbbVie in a research report on Thursday, July 12th. They set a “hold” rating and a $105.00 price objective for the company. BMO Capital Markets restated a “sell” rating and set a $78.00 price objective on shares of AbbVie in a research report on Friday, July 27th. Credit Suisse Group lowered AbbVie from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $104.00 to $89.00 in a research report on Tuesday, May 29th. Cowen set a $110.00 price objective on AbbVie and gave the company a “buy” rating in a research report on Friday, July 27th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $100.00 price objective on shares of AbbVie in a research report on Friday, July 27th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. AbbVie presently has an average rating of “Hold” and an average target price of $105.88.
AbbVie Company 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, for the treatment of adults with genotype 1 chronic hepatitis C.
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