Everett Harris & Co. CA Acquires 883 Shares of AbbVie Inc (NYSE:ABBV)
Everett Harris & Co. CA grew its position in AbbVie Inc (NYSE:ABBV) by 0.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 365,353 shares of the company’s stock after purchasing an additional 883 shares during the period. AbbVie comprises approximately 0.8% of Everett Harris & Co. CA’s holdings, making the stock its 29th biggest holding. Everett Harris & Co. CA’s holdings in AbbVie were worth $35,870,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in the stock. Guggenheim Capital LLC increased its stake in shares of AbbVie by 14.2% in the 4th quarter. Guggenheim Capital LLC now owns 734,809 shares of the company’s stock valued at $65,060,000 after purchasing an additional 91,269 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of AbbVie by 4.1% during the 4th quarter. Sunbelt Securities Inc. now owns 106,305 shares of the company’s stock valued at $9,412,000 after acquiring an additional 4,175 shares in the last quarter. IMS Capital Management raised its holdings in shares of AbbVie by 21.8% during the 1st quarter. IMS Capital Management now owns 24,583 shares of the company’s stock valued at $1,873,000 after buying an additional 4,408 shares during the period. Woodstock Corp raised its stake in shares of AbbVie by 1.6% during the first quarter. Woodstock Corp now owns 88,306 shares of the company’s stock valued at $6,728,000 after purchasing an additional 1,380 shares during the period. Finally, Fulton Bank N.A. lifted its holdings in AbbVie by 1.2% in the 1st quarter. Fulton Bank N.A. now owns 78,468 shares of the company’s stock worth $5,979,000 after buying an additional 937 shares in the last quarter. 72.40% of the stock is owned by hedge funds and other institutional investors.
ABBV has been the subject of several research reports. UBS Group lifted their target price on AbbVie from $96.00 to $109.00 in a research report on Wednesday, June 17th. Bank of America initiated coverage on shares of AbbVie in a report on Monday, May 18th. They issued a “neutral” rating and a $95.00 target price on the stock. Evercore ISI initiated coverage on AbbVie in a report on Wednesday, June 10th. They set a “buy” rating and a $111.00 target price for the company. JPMorgan Chase & Co. upgraded AbbVie from a “neutral” rating to an “overweight” rating and set a $105.00 price objective for the company in a research report on Tuesday, May 12th. Finally, Mizuho increased their target price on AbbVie from $101.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $106.80.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 31st. The company reported $2.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.20 by $0.14. The firm had revenue of $10.43 billion during the quarter, compared to analyst estimates of $10.14 billion. AbbVie had a net margin of 24.77% and a negative return on equity of 169.80%. The business’s quarterly revenue was up 26.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.26 EPS. On average, equities analysts anticipate that AbbVie Inc will post 10.45 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be paid a $1.18 dividend. The ex-dividend date of this dividend is Tuesday, July 14th. This represents a $4.72 annualized dividend and a dividend yield of 4.97%. AbbVie’s payout ratio is 52.80%.
In related news, SVP Jeffrey Ryan Stewart sold 23,024 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $90.00, for a total transaction of $2,072,160.00. Following the sale, the senior vice president now owns 52,760 shares of the company’s stock, valued at $4,748,400. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Carlos Alban sold 53,325 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $100.00, for a total transaction of $5,332,500.00. Following the completion of the transaction, the insider now directly owns 137,899 shares of the company’s stock, valued at approximately $13,789,900. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,794 shares of company stock valued at $9,057,485. 0.09% of the stock is owned by 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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