Kavar Capital Partners LLC lifted its position in shares of AbbVie Inc (NYSE:ABBV) by 12.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,696 shares of the company’s stock after purchasing an additional 3,700 shares during the period. Kavar Capital Partners LLC’s holdings in AbbVie were worth $2,450,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Stephens Inc. AR lifted its holdings in AbbVie by 17.6% in the second quarter. Stephens Inc. AR now owns 240,549 shares of the company’s stock worth $17,493,000 after buying an additional 36,043 shares during the period. Cohen Lawrence B purchased a new position in shares of AbbVie during the second quarter valued at approximately $353,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of AbbVie by 131.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 903,992 shares of the company’s stock valued at $63,756,000 after purchasing an additional 513,424 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of AbbVie by 1.9% during the second quarter. Sunbelt Securities Inc. now owns 36,837 shares of the company’s stock valued at $2,679,000 after purchasing an additional 702 shares during the last quarter. Finally, Clark Estates Inc. NY purchased a new position in shares of AbbVie during the second quarter valued at approximately $3,491,000. Institutional investors own 68.15% of the company’s stock.
Shares of ABBV stock traded down $0.13 during mid-day trading on Thursday, reaching $63.37. 254,581 shares of the company’s stock traded hands, compared to its average volume of 10,238,484. AbbVie Inc has a 12 month low of $63.31 and a 12 month high of $100.23. The firm’s 50 day moving average price is $68.73. The stock has a market cap of $95.41 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 1.54 and a beta of 0.96.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.05. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.09 billion. During the same quarter in the previous year, the firm posted $2.00 EPS. The company’s revenue for the quarter was down .3% compared to the same quarter last year. On average, analysts forecast that AbbVie Inc will post 8.88 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 6.75%. The ex-dividend date of this dividend is Friday, July 12th. AbbVie’s payout ratio is 54.11%.
In other news, Director Roxanne S. Austin bought 10,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were bought at an average price of $66.35 per share, for a total transaction of $663,500.00. Following the purchase, the director now owns 62,114 shares in the company, valued at $4,121,263.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William J. Chase bought 30,400 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were purchased at an average price of $67.30 per share, for a total transaction of $2,045,920.00. Following the purchase, the executive vice president now owns 169,552 shares in the company, valued at approximately $11,410,849.60. The disclosure for this purchase can be found here. In the last three months, insiders have bought 136,900 shares of company stock valued at $9,126,370. Insiders own 0.08% of the company’s stock.
ABBV has been the subject of several recent research reports. Leerink Swann upgraded shares of AbbVie to a “buy” rating in a report on Tuesday, July 2nd. Svb Leerink upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 target price for the company in a report on Wednesday, June 26th. Piper Jaffray Companies set a $80.00 target price on shares of AbbVie and gave the company a “hold” rating in a report on Friday, July 26th. Citigroup reiterated a “hold” rating on shares of AbbVie in a report on Wednesday, June 26th. Finally, Wolfe Research upgraded shares of AbbVie from an “underperform” rating to a “peer perform” rating in a report on Thursday, June 27th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $92.05.
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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