Capital Investment Services of America Inc. maintained its stake in AbbVie Inc. (NYSE:ABBV) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,536 shares of the company’s stock at the close of the second quarter. Capital Investment Services of America Inc.’s holdings in AbbVie were worth $256,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. State Street Corp increased its stake in shares of AbbVie by 2.4% during the 1st quarter. State Street Corp now owns 72,969,530 shares of the company’s stock worth $4,754,696,000 after purchasing an additional 1,696,042 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of AbbVie during the 1st quarter worth approximately $46,744,000. Bank of Nova Scotia increased its stake in shares of AbbVie by 297.9% during the 1st quarter. Bank of Nova Scotia now owns 606,321 shares of the company’s stock worth $39,507,000 after purchasing an additional 453,955 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of AbbVie by 42.3% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 1,202,483 shares of the company’s stock worth $78,354,000 after purchasing an additional 357,353 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of AbbVie by 58.6% during the 1st quarter. AQR Capital Management LLC now owns 940,824 shares of the company’s stock worth $61,304,000 after purchasing an additional 347,710 shares in the last quarter. 68.25% of the stock is owned by institutional investors.
In other AbbVie news, CEO Richard A. Gonzalez sold 65,861 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $71.00, for a total value of $4,676,131.00. Following the completion of the sale, the chief executive officer now directly owns 342,353 shares of the company’s stock, valued at $24,307,063. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $85.02, for a total transaction of $705,666.00. Following the completion of the sale, the senior vice president now directly owns 93,099 shares of the company’s stock, valued at $7,915,276.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 373,191 shares of company stock worth $26,598,305. Company insiders own 0.23% of the company’s stock.
A number of brokerages have recently weighed in on ABBV. Piper Jaffray Companies reissued a “buy” rating and set a $85.00 price objective on shares of AbbVie in a research note on Thursday, August 3rd. Evercore ISI began coverage on shares of AbbVie in a research note on Wednesday, August 16th. They set an “outperform” rating and a $95.00 price objective for the company. Vetr cut shares of AbbVie from a “buy” rating to a “hold” rating and set a $72.72 price objective for the company. in a research note on Wednesday, June 14th. Leerink Swann reissued a “market perform” rating on shares of AbbVie in a research note on Thursday, June 22nd. Finally, BidaskClub cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $82.38.
Shares of AbbVie Inc. (NYSE ABBV) traded down 1.34% during trading on Monday, hitting $86.20. 3,440,781 shares of the company’s stock were exchanged. AbbVie Inc. has a 1-year low of $55.06 and a 1-year high of $89.69. The firm has a market capitalization of $137.41 billion, a PE ratio of 21.20 and a beta of 1.48. The stock’s 50 day moving average is $74.86 and its 200 day moving average is $69.44.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 net margin of 24.77% and a return on equity of 150.27%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.26 EPS. On average, equities research analysts forecast that AbbVie Inc. will post $5.52 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be paid a $0.64 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $2.56 annualized dividend and a yield of 2.96%. AbbVie’s dividend payout ratio is presently 62.90%.
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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