AbbVie Inc (ABBV) Shares Bought by Legacy Private Trust Co.

Legacy Private Trust Co. grew its stake in shares of AbbVie Inc (NYSE:ABBV) by 4.3% during the second quarter, HoldingsChannel reports. The firm owned 32,672 shares of the company’s stock after purchasing an additional 1,355 shares during the period. Legacy Private Trust Co.’s holdings in AbbVie were worth $3,027,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Bogart Wealth LLC grew its position in shares of AbbVie by 4.1% during the second quarter. Bogart Wealth LLC now owns 19,785 shares of the company’s stock worth $1,833,000 after acquiring an additional 783 shares during the last quarter. Cabot Wellington LLC purchased a new position in shares of AbbVie during the second quarter worth approximately $3,706,000. First National Bank of Mount Dora Trust Investment Services grew its position in shares of AbbVie by 2.6% during the second quarter. First National Bank of Mount Dora Trust Investment Services now owns 65,714 shares of the company’s stock worth $6,088,000 after acquiring an additional 1,665 shares during the last quarter. Forte Capital LLC ADV grew its position in shares of AbbVie by 14.4% during the second quarter. Forte Capital LLC ADV now owns 17,436 shares of the company’s stock worth $1,615,000 after acquiring an additional 2,195 shares during the last quarter. Finally, Laurel Grove Capital LLC grew its position in shares of AbbVie by 4.3% during the second quarter. Laurel Grove Capital LLC now owns 30,182 shares of the company’s stock worth $2,796,000 after acquiring an additional 1,250 shares during the last quarter. 69.09% of the stock is currently owned by institutional investors.

In other AbbVie news, Director Glenn F. Tilton bought 5,400 shares of AbbVie stock in a transaction on Wednesday, June 27th. The stock was bought at an average price of $91.90 per share, with a total value of $496,260.00. Following the completion of the acquisition, the director now owns 39,735 shares in the company, valued at $3,651,646.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Timothy J. Richmond sold 17,588 shares of the firm’s stock in a transaction on Friday, June 15th. The shares were sold at an average price of $99.47, for a total value of $1,749,478.36. The disclosure for this sale can be found here. Company insiders own 0.07% of the company’s stock.

AbbVie opened at $95.80 on Friday, Marketbeat Ratings reports. AbbVie Inc has a 1-year low of $69.47 and a 1-year high of $125.86. The company has a debt-to-equity ratio of -9.06, a quick ratio of 1.10 and a current ratio of 0.80. The firm has a market capitalization of $144.57 billion, a P/E ratio of 14.12, a PEG ratio of 0.87 and a beta of 1.56.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 27th. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.02. AbbVie had a net margin of 20.84% and a return on equity of 362.05%. The firm had revenue of $8.28 billion for the quarter, compared to analyst estimates of $8.22 billion. During the same period last year, the firm posted $1.42 EPS. AbbVie’s quarterly revenue was up 19.2% on a year-over-year basis. analysts forecast that AbbVie Inc will post 7.86 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 15th. Investors of record on Friday, July 13th will be given a $0.96 dividend. The ex-dividend date of this dividend is Thursday, July 12th. This represents a $3.84 dividend on an annualized basis and a yield of 4.01%. AbbVie’s dividend payout ratio (DPR) is 68.57%.

A number of equities analysts have recently issued reports on the stock. Bank of America lowered their target price on shares of AbbVie from $112.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, July 30th. Piper Jaffray Companies restated a “hold” rating and set a $100.00 target price on shares of AbbVie in a research report on Friday, July 27th. Cowen set a $110.00 target price on shares of AbbVie and gave the stock a “buy” rating in a research report on Friday, July 27th. BMO Capital Markets restated a “sell” rating and set a $78.00 target price on shares of AbbVie in a research report on Friday, July 27th. Finally, Jefferies Financial Group set a $100.00 target price on shares of AbbVie and gave the stock a “buy” rating in a research report on Sunday, July 15th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $105.88.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.

See Also: Average Daily Trade Volume – What You Need to Know

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc (NYSE:ABBV).

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply