ING Groep NV acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 138,503 shares of the company’s stock, valued at approximately $10,043,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in ABBV. Acropolis Investment Management LLC bought a new stake in shares of AbbVie during the second quarter worth $106,000. First Command Financial Services Inc. grew its stake in shares of AbbVie by 6.8% during the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock worth $102,000 after buying an additional 99 shares during the last quarter. Franklin Parlapiano Turner & Welch LLC bought a new stake in shares of AbbVie during the first quarter worth $108,000. Atwood & Palmer Inc. grew its stake in shares of AbbVie by 1,333.3% during the first quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock worth $140,000 after buying an additional 2,000 shares during the last quarter. Finally, Tradewinds Capital Management LLC grew its stake in shares of AbbVie by 87.2% during the first quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock worth $148,000 after buying an additional 1,057 shares during the last quarter. Institutional investors and hedge funds own 68.29% of the company’s stock.
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A number of research firms have weighed in on ABBV. Deutsche Bank AG reaffirmed a “hold” rating and set a $66.00 target price (up previously from $65.00) on shares of AbbVie in a research note on Monday, July 17th. Vetr raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 target price on the stock in a research note on Wednesday, July 26th. BidaskClub cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Jefferies Group LLC reaffirmed a “buy” rating and set a $94.00 target price (up previously from $92.00) on shares of AbbVie in a research note on Monday, July 17th. Finally, Zacks Investment Research raised shares of AbbVie from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. AbbVie currently has an average rating of “Buy” and a consensus price target of $82.38.
In related news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $85.02, for a total transaction of $705,666.00. Following the transaction, the senior vice president now owns 93,099 shares of the company’s stock, valued at approximately $7,915,276.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Edward J. Rapp purchased 4,000 shares of the business’s stock in a transaction on Monday, July 31st. The stock was purchased at an average cost of $70.45 per share, for a total transaction of $281,800.00. Following the acquisition, the director now owns 15,498 shares in the company, valued at $1,091,834.10. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 373,191 shares of company stock worth $26,598,305. 0.23% of the stock is owned by insiders.
Shares of AbbVie Inc. (NYSE:ABBV) traded down 2.07% during mid-day trading on Friday, hitting $87.37. 20,441,496 shares of the company traded hands. The stock has a market capitalization of $139.28 billion, a PE ratio of 16.61 and a beta of 1.48. AbbVie Inc. has a 1-year low of $55.06 and a 1-year high of $89.69. The firm’s 50 day moving average price is $74.86 and its 200-day moving average price is $69.44.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 28th. The company reported $1.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.02. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The company had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the firm earned $1.26 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts forecast that AbbVie Inc. will post $5.52 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Thursday, October 12th. AbbVie’s dividend payout ratio is currently 62.90%.
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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