AbbVie Inc (NYSE:ABBV) Shares Acquired by SlateStone Wealth LLC
SlateStone Wealth LLC grew its position in AbbVie Inc (NYSE:ABBV) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,625 shares of the company’s stock after acquiring an additional 165 shares during the quarter. SlateStone Wealth LLC’s holdings in AbbVie were worth $2,518,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Van Leeuwen & Company LLC raised its position in AbbVie by 4.1% in the fourth quarter. Van Leeuwen & Company LLC now owns 3,296 shares of the company’s stock worth $304,000 after acquiring an additional 130 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its holdings in AbbVie by 0.3% in the second quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 44,147 shares of the company’s stock valued at $3,210,000 after purchasing an additional 147 shares during the last quarter. Weatherly Asset Management L. P. grew its holdings in AbbVie by 1.8% in the second quarter. Weatherly Asset Management L. P. now owns 8,317 shares of the company’s stock valued at $605,000 after purchasing an additional 151 shares during the last quarter. BTIM Corp. grew its holdings in AbbVie by 0.6% in the second quarter. BTIM Corp. now owns 27,263 shares of the company’s stock valued at $1,983,000 after purchasing an additional 154 shares during the last quarter. Finally, Verus Financial Partners Inc. grew its holdings in AbbVie by 5.9% in the second quarter. Verus Financial Partners Inc. now owns 2,786 shares of the company’s stock valued at $203,000 after purchasing an additional 154 shares during the last quarter. 70.03% of the stock is owned by institutional investors and hedge funds.
ABBV has been the topic of several research reports. Leerink Swann raised AbbVie to a “buy” rating in a report on Tuesday, July 2nd. Wolfe Research raised AbbVie from an “underperform” rating to a “peer perform” rating in a report on Thursday, June 27th. Citigroup reissued a “hold” rating on shares of AbbVie in a report on Wednesday, June 26th. Goldman Sachs Group started coverage on AbbVie in a research note on Tuesday, May 28th. They set a “neutral” rating and a $84.00 price objective on the stock. Finally, ValuEngine lowered AbbVie from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 26th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $92.05.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 26th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.05. The business had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.09 billion. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the company earned $2.00 earnings per share. On average, equities analysts forecast that AbbVie Inc will post 8.88 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date was Friday, July 12th. AbbVie’s payout ratio is 54.11%.
In other news, SVP Jeffrey Ryan Stewart acquired 15,552 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were bought at an average cost of $64.44 per share, for a total transaction of $1,002,170.88. Following the acquisition, the senior vice president now directly owns 65,304 shares in the company, valued at approximately $4,208,189.76. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Henry O. Gosebruch acquired 30,000 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was purchased at an average price of $67.28 per share, for a total transaction of $2,018,400.00. Following the completion of the acquisition, the executive vice president now owns 75,763 shares in the company, valued at $5,097,334.64. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 152,452 shares of company stock worth $10,128,541. 0.08% of the stock is owned by corporate insiders.
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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