AbbVie Inc (NYSE:ABBV) Shares Acquired by Camden National Bank

Camden National Bank grew its position in AbbVie Inc (NYSE:ABBV) by 6.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,179 shares of the company’s stock after buying an additional 598 shares during the quarter. Camden National Bank’s holdings in AbbVie were worth $771,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Weaver Consulting Group acquired a new position in AbbVie during the 1st quarter worth $25,000. Arbor Wealth Management LLC acquired a new position in AbbVie during the 2nd quarter worth $28,000. Lowe Wealth Advisors LLC grew its stake in AbbVie by 206.7% during the 2nd quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 310 shares in the last quarter. Horrell Capital Management Inc. acquired a new position in AbbVie during the 2nd quarter worth $33,000. Finally, TD Capital Management LLC acquired a new position in AbbVie during the 2nd quarter worth $33,000. 68.14% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Nicholas Donoghoe bought 7,525 shares of AbbVie stock in a transaction dated Thursday, August 29th. The stock was acquired at an average cost of $66.19 per share, with a total value of $498,079.75. Following the acquisition, the senior vice president now owns 13,090 shares of the company’s stock, valued at $866,427.10. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Timothy J. Richmond sold 15,515 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $75.02, for a total value of $1,163,935.30. The disclosure for this sale can be found here. Insiders bought a total of 183,077 shares of company stock valued at $10,705,751 over the last three months. Company insiders own 0.08% of the company’s stock.

NYSE ABBV traded down $0.82 during trading on Friday, reaching $73.63. 7,151,276 shares of the company’s stock were exchanged, compared to its average volume of 7,972,179. The stock has a market cap of $108.71 billion, a P/E ratio of 9.31, a price-to-earnings-growth ratio of 1.50 and a beta of 0.99. The company has a 50 day moving average price of $70.30 and a two-hundred day moving average price of $73.90. AbbVie Inc has a 1 year low of $62.66 and a 1 year high of $94.98.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.05. The company had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.09 billion. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. AbbVie’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the business earned $2.00 EPS. As a group, research analysts anticipate that AbbVie Inc will post 8.9 earnings per share for the current fiscal year.

The company also recently announced a — dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $1.07 dividend. This represents a dividend yield of 6.4%. The ex-dividend date of this dividend is Friday, October 11th. AbbVie’s payout ratio is currently 54.11%.

ABBV has been the subject of several analyst reports. Wolfe Research raised AbbVie from an “underperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Svb Leerink raised AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 target price for the company in a research note on Wednesday, June 26th. TheStreet downgraded AbbVie from a “b-” rating to a “c” rating in a report on Monday, August 26th. Citigroup raised AbbVie from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $87.00 to $90.00 in a report on Thursday, September 26th. Finally, Leerink Swann raised AbbVie to a “buy” rating in a report on Tuesday, July 2nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $89.97.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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