Zevin Asset Management LLC increased its holdings in shares of AbbVie Inc (NYSE:ABBV) by 1.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 69,391 shares of the company’s stock after acquiring an additional 871 shares during the period. AbbVie makes up about 1.7% of Zevin Asset Management LLC’s portfolio, making the stock its 22nd largest holding. Zevin Asset Management LLC’s holdings in AbbVie were worth $5,254,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of ABBV. Arbor Wealth Management LLC purchased a new position in AbbVie in the 2nd quarter valued at about $28,000. Horrell Capital Management Inc. purchased a new position in AbbVie in the 2nd quarter valued at about $33,000. TD Capital Management LLC purchased a new position in AbbVie in the 2nd quarter valued at about $33,000. Lowe Wealth Advisors LLC lifted its stake in AbbVie by 206.7% in the 2nd quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock valued at $33,000 after buying an additional 310 shares in the last quarter. Finally, Financial Gravity Wealth Inc. lifted its stake in AbbVie by 82.9% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 503 shares of the company’s stock valued at $37,000 after buying an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 68.38% of the company’s stock.
ABBV has been the topic of a number of research reports. Piper Jaffray Companies raised their price target on shares of AbbVie from $81.00 to $90.00 in a research note on Friday, November 1st. UBS Group raised shares of AbbVie from a “neutral” rating to a “buy” rating and decreased their price target for the company from $85.00 to $79.00 in a research note on Thursday, September 12th. ValuEngine raised shares of AbbVie from a “strong sell” rating to a “sell” rating in a research note on Monday, September 30th. Citigroup raised shares of AbbVie from a “neutral” rating to a “buy” rating and raised their price target for the company from $87.00 to $90.00 in a research note on Thursday, September 26th. Finally, Cowen set a $90.00 price target on shares of AbbVie and gave the company a “buy” rating in a research note on Tuesday, September 24th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $84.88.
ABBV traded up $3.20 during trading on Friday, reaching $85.21. The company’s stock had a trading volume of 11,307,381 shares, compared to its average volume of 7,972,123. The firm has a fifty day simple moving average of $76.28 and a two-hundred day simple moving average of $73.49. AbbVie Inc has a 1 year low of $62.66 and a 1 year high of $94.98. The company has a market cap of $121.00 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 2.04 and a beta of 0.98.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, November 1st. The company reported $2.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.29 by $0.04. AbbVie had a net margin of 9.90% and a negative return on equity of 155.71%. The business had revenue of $8.48 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period last year, the company posted $2.14 EPS. The business’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts expect that AbbVie Inc will post 8.93 earnings per share for the current fiscal year.
The firm also recently announced a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $1.07 dividend. This represents a yield of 6.4%. The ex-dividend date is Friday, October 11th. AbbVie’s dividend payout ratio (DPR) is 54.11%.
In other news, Vice Chairman Laura J. Schumacher purchased 25,000 shares of AbbVie stock in a transaction dated Monday, September 16th. The shares were purchased at an average price of $70.42 per share, with a total value of $1,760,500.00. Following the transaction, the insider now owns 164,838 shares in the company, valued at $11,607,891.96. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Timothy J. Richmond sold 15,515 shares of AbbVie stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $75.02, for a total transaction of $1,163,935.30. The disclosure for this sale can be found here. Insiders acquired a total of 88,077 shares of company stock worth $4,401,551 over the last three months. Corporate insiders own 0.08% of the company’s stock.
AbbVie Company Profile
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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