Altfest L J & Co. Inc. grew its stake in shares of AbbVie Inc (NYSE:ABBV) by 10.6% during the second quarter, HoldingsChannel reports. The firm owned 21,579 shares of the company’s stock after purchasing an additional 2,069 shares during the period. AbbVie makes up approximately 0.7% of Altfest L J & Co. Inc.’s investment portfolio, making the stock its 26th largest position. Altfest L J & Co. Inc.’s holdings in AbbVie were worth $1,999,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Fairfield Bush & CO. acquired a new position in shares of AbbVie in the 1st quarter valued at $146,000. First Mercantile Trust Co. acquired a new position in shares of AbbVie in the 2nd quarter valued at $150,000. Centaurus Financial Inc. acquired a new position in shares of AbbVie in the 1st quarter valued at $153,000. MUFG Securities EMEA plc acquired a new position in shares of AbbVie in the 2nd quarter valued at $157,000. Finally, KHP Capital LLC acquired a new position in shares of AbbVie in the 1st quarter valued at $161,000. 69.31% of the stock is currently owned by institutional investors.
Shares of ABBV opened at $94.18 on Thursday. The company has a debt-to-equity ratio of -9.06, a quick ratio of 0.71 and a current ratio of 0.80. The firm has a market capitalization of $141.46 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 0.90 and a beta of 1.54. AbbVie Inc has a 1 year low of $83.19 and a 1 year high of $125.86.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, October 15th will be paid a $0.96 dividend. The ex-dividend date is Friday, October 12th. This represents a $3.84 annualized dividend and a yield of 4.08%. AbbVie’s dividend payout ratio is currently 68.57%.
A number of equities analysts have recently commented on ABBV shares. Argus cut their target price on shares of AbbVie from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Monday, June 11th. Cowen set a $110.00 target price on shares of AbbVie and gave the company a “buy” rating in a report on Friday, July 27th. Jefferies Financial Group set a $100.00 target price on shares of AbbVie and gave the company a “buy” rating in a report on Sunday, July 15th. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a report on Wednesday, June 27th. Finally, Bank of America cut their target price on shares of AbbVie from $112.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, July 30th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $107.16.
In other AbbVie news, EVP Michael Severino sold 50,000 shares of the business’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $97.52, for a total value of $4,876,000.00. Following the transaction, the executive vice president now directly owns 111,481 shares of the company’s stock, valued at approximately $10,871,627.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.07% of the company’s stock.
AbbVie Company Profile
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.
Read More: Hedge Funds – How They Work For Investors
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).
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.