AbbVie Inc. (ABBV) Shares Bought by Strategic Advisors LLC
Strategic Advisors LLC increased its position in AbbVie Inc. (NYSE:ABBV) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,095 shares of the company’s stock after buying an additional 436 shares during the period. AbbVie makes up about 1.4% of Strategic Advisors LLC’s portfolio, making the stock its 21st largest position. Strategic Advisors LLC’s holdings in AbbVie were worth $3,069,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Bollard Group LLC raised its position in shares of AbbVie by 0.5% in the first quarter. Bollard Group LLC now owns 3,745 shares of the company’s stock worth $244,000 after buying an additional 20 shares during the last quarter. TRUE Private Wealth Advisors raised its position in shares of AbbVie by 0.5% in the first quarter. TRUE Private Wealth Advisors now owns 4,787 shares of the company’s stock worth $313,000 after buying an additional 24 shares during the last quarter. St. Louis Trust Co raised its position in shares of AbbVie by 0.7% in the first quarter. St. Louis Trust Co now owns 3,388 shares of the company’s stock worth $221,000 after buying an additional 25 shares during the last quarter. Country Club Trust Company n.a. raised its position in shares of AbbVie by 0.6% in the first quarter. Country Club Trust Company n.a. now owns 4,434 shares of the company’s stock worth $289,000 after buying an additional 26 shares during the last quarter. Finally, Stratford Consulting LLC raised its position in shares of AbbVie by 0.7% in the first quarter. Stratford Consulting LLC now owns 3,959 shares of the company’s stock worth $258,000 after buying an additional 29 shares during the last quarter. 67.69% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AbbVie Inc. (ABBV) traded up 0.51% during midday trading on Friday, reaching $72.48. 3,871,184 shares of the company’s stock were exchanged. The stock has a market cap of $115.54 billion, a PE ratio of 17.83 and a beta of 1.50. AbbVie Inc. has a 12-month low of $55.06 and a 12-month high of $75.04. The stock’s 50 day moving average is $71.65 and its 200-day moving average is $67.49.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.02. The firm had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.93 billion. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company earned $1.26 EPS. On average, equities analysts expect that AbbVie Inc. will post $5.52 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Friday, July 14th were given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date was Wednesday, July 12th. AbbVie’s payout ratio is 62.90%.
Several research firms recently commented on ABBV. Evercore ISI began coverage on shares of AbbVie in a report on Wednesday, August 16th. They set an “outperform” rating and a $95.00 target price on the stock. BidaskClub lowered shares of AbbVie from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $85.00 target price on shares of AbbVie in a report on Thursday, August 3rd. Cowen and Company set a $70.00 target price on shares of AbbVie and gave the company a “hold” rating in a report on Sunday, July 30th. Finally, Vetr raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 target price on the stock in a report on Wednesday, July 26th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $76.02.
In other AbbVie news, Director Edward J. Rapp acquired 4,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was purchased at an average cost of $70.45 per share, with a total value of $281,800.00. Following the transaction, the director now owns 15,498 shares of the company’s stock, valued at $1,091,834.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Richard A. Gonzalez sold 87,899 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $71.02, for a total value of $6,242,586.98. Following the sale, the chairman now directly owns 342,353 shares of the company’s stock, valued at $24,313,910.06. The disclosure for this sale can be found here. Insiders have sold a total of 490,491 shares of company stock valued at $34,684,639 over the last three months. Corporate insiders own 0.23% of the company’s stock.
AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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