Huber Financial Advisors LLC grew its position in AbbVie Inc (NYSE:ABBV) by 63.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 12,617 shares of the company’s stock after acquiring an additional 4,895 shares during the period. AbbVie accounts for approximately 1.1% of Huber Financial Advisors LLC’s investment portfolio, making the stock its 17th biggest position. Huber Financial Advisors LLC’s holdings in AbbVie were worth $1,169,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in ABBV. Fairfield Bush & CO. acquired a new stake in AbbVie in the first quarter valued at $146,000. First Mercantile Trust Co. acquired a new stake in AbbVie in the second quarter valued at $150,000. Centaurus Financial Inc. acquired a new stake in AbbVie in the first quarter valued at $153,000. Wagner Wealth Management LLC acquired a new stake in AbbVie in the fourth quarter valued at $154,000. Finally, MUFG Securities EMEA plc acquired a new stake in AbbVie in the second quarter valued at $157,000. Institutional investors own 69.31% of the company’s stock.
Shares of AbbVie stock opened at $92.26 on Monday. The company has a debt-to-equity ratio of -9.06, a current ratio of 0.80 and a quick ratio of 0.71. AbbVie Inc has a 1-year low of $83.19 and a 1-year high of $125.86. The stock has a market cap of $139.71 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 0.89 and a beta of 1.54.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, October 15th will be issued a dividend of $0.96 per share. The ex-dividend date of this dividend is Friday, October 12th. This represents a $3.84 dividend on an annualized basis and a yield of 4.16%. AbbVie’s payout ratio is currently 68.57%.
In other AbbVie news, EVP Michael Severino sold 50,000 shares of the stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the completion of the sale, the executive vice president now directly owns 111,481 shares in the company, valued at approximately $10,871,627.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Glenn F. Tilton purchased 5,400 shares of the firm’s stock in a transaction on Wednesday, June 27th. The shares were acquired 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 approximately $3,651,646.50. The disclosure for this purchase can be found here. Company insiders own 0.07% of the company’s stock.
ABBV has been the subject of a number of recent research reports. Deutsche Bank downgraded AbbVie from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $125.86 to $65.61 in a report on Wednesday, May 30th. Piper Jaffray Companies restated a “hold” rating and issued a $100.00 price objective on shares of AbbVie in a report on Friday, July 27th. BMO Capital Markets restated a “sell” rating and issued a $78.00 price objective on shares of AbbVie in a report on Wednesday, August 22nd. Deutsche Bank downgraded AbbVie from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $125.86 to $65.61 in a report on Wednesday, May 30th. Finally, Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Wednesday, June 27th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $106.31.
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.
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