James Investment Research Inc. lifted its holdings in AbbVie Inc (NYSE:ABBV) by 14.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 19,605 shares of the company’s stock after buying an additional 2,505 shares during the quarter. James Investment Research Inc.’s holdings in AbbVie were worth $1,816,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Truewealth LLC acquired a new stake in shares of AbbVie in the 4th quarter worth about $126,000. Delpha Capital Management LLC acquired a new stake in shares of AbbVie in the 4th quarter worth about $131,000. Virtue Capital Management LLC acquired a new stake in shares of AbbVie in the 4th quarter worth about $139,000. Fairfield Bush & CO. acquired a new stake in shares of AbbVie in the 1st quarter worth about $146,000. Finally, Trustcore Financial Services LLC acquired a new stake in shares of AbbVie in the 4th quarter worth about $148,000. Institutional investors own 70.31% of the company’s stock.
In other news, SVP Timothy J. Richmond sold 17,588 shares of the firm’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $99.47, for a total transaction of $1,749,478.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward J. Rapp acquired 1,013 shares of AbbVie stock in a transaction dated Wednesday, June 20th. The shares were acquired at an average price of $98.63 per share, with a total value of $99,912.19. The disclosure for this purchase can be found here. Company insiders own 0.07% of the company’s stock.
NYSE:ABBV opened at $97.63 on Tuesday. AbbVie Inc has a twelve month low of $69.91 and a twelve month high of $125.86. The company has a debt-to-equity ratio of -9.06, a current ratio of 0.80 and a quick ratio of 0.71. The stock has a market cap of $149.63 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 0.90 and a beta of 1.56.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 27th. The company reported $2.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.02. AbbVie had a net margin of 20.84% and a return on equity of 362.05%. The company had revenue of $8.28 billion during the quarter, compared to analyst estimates of $8.22 billion. During the same quarter last year, the firm posted $1.42 EPS. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. equities research analysts expect that AbbVie Inc will post 7.86 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Stockholders of record on Friday, July 13th were given a dividend of $0.96 per share. The ex-dividend date was Thursday, July 12th. This represents a $3.84 annualized dividend and a dividend yield of 3.93%. AbbVie’s dividend payout ratio (DPR) is 68.57%.
Several equities analysts have commented on the stock. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a research note on Wednesday, June 27th. ValuEngine cut shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Friday, June 22nd. Berenberg Bank assumed coverage on shares of AbbVie in a research note on Thursday, July 12th. They set a “hold” rating and a $105.00 target price on the stock. Jefferies Financial Group set a $100.00 target price on shares of AbbVie and gave the company a “buy” rating in a research note on Sunday, July 15th. Finally, Piper Jaffray Companies cut shares of AbbVie from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $125.86 to $66.62 in a research note on Friday, June 1st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $105.88.
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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