FCM Investments TX held its position in AbbVie Inc. (NYSE:ABBV) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,500 shares of the company’s stock at the end of the first quarter. FCM Investments TX’s holdings in AbbVie were worth $489,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Elgethun Capital Management bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $359,000. Cleararc Capital Inc. increased its stake in AbbVie by 1.5% in the fourth quarter. Cleararc Capital Inc. now owns 72,242 shares of the company’s stock worth $4,524,000 after buying an additional 1,068 shares during the period. State Street Corp increased its stake in AbbVie by 4.0% in the fourth quarter. State Street Corp now owns 71,273,488 shares of the company’s stock worth $4,463,150,000 after buying an additional 2,763,770 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in AbbVie by 77.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 833,464 shares of the company’s stock worth $52,191,000 after buying an additional 363,937 shares during the period. Finally, Van ECK Associates Corp increased its stake in AbbVie by 16.8% in the fourth quarter. Van ECK Associates Corp now owns 215,754 shares of the company’s stock worth $13,511,000 after buying an additional 31,015 shares during the period. Institutional investors own 68.08% of the company’s stock.
AbbVie Inc. (ABBV) traded down 1.80% on Friday, hitting $70.44. 8,012,352 shares of the company’s stock were exchanged. AbbVie Inc. has a 12-month low of $55.06 and a 12-month high of $75.04. The company has a market cap of $112.28 billion, a PE ratio of 17.32 and a beta of 1.51. The company’s 50-day moving average price is $72.04 and its 200-day moving average price is $66.14.
AbbVie (NYSE:ABBV) last released its earnings results 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 for the quarter, compared to analyst estimates of $6.93 billion. AbbVie had a return on equity of 148.83% and a net margin of 24.07%. AbbVie’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.26 earnings per share. Analysts forecast that AbbVie Inc. will post $5.53 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be paid a $0.64 dividend. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $2.56 dividend on an annualized basis and a yield of 3.63%. AbbVie’s dividend payout ratio is currently 62.90%.
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A number of analysts have recently weighed in on ABBV shares. Vetr upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $74.38 target price on the stock in a report on Monday, May 8th. Credit Suisse Group reiterated a “neutral” rating and set a $74.00 price target (up from $65.00) on shares of AbbVie in a report on Thursday, July 20th. BMO Capital Markets set a $63.00 price target on shares of AbbVie and gave the company a “hold” rating in a report on Thursday, April 27th. BidaskClub upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Finally, Leerink Swann restated a “market perform” rating on shares of AbbVie in a research note on Thursday, June 22nd. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $74.52.
In other AbbVie news, CFO William J. Chase sold 38,300 shares of AbbVie stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $65.35, for a total transaction of $2,502,905.00. Following the transaction, the chief financial officer now owns 209,043 shares of the company’s stock, valued at approximately $13,660,960.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Carlos Alban sold 45,800 shares of AbbVie stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $70.00, for a total value of $3,206,000.00. Following the transaction, the executive vice president now directly owns 160,545 shares in the company, valued at approximately $11,238,150. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 278,135 shares of company stock worth $18,841,085. Company insiders own 0.23% of the company’s stock.
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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