Shelter Mutual Insurance Co continued to hold its stake in shares of AbbVie Inc. (NYSE:ABBV) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,100 shares of the company’s stock at the close of the 2nd quarter. AbbVie accounts for about 2.3% of Shelter Mutual Insurance Co’s portfolio, making the stock its 24th biggest holding. Shelter Mutual Insurance Co’s holdings in AbbVie were worth $7,403,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Capital Analysts LLC increased its stake in AbbVie by 1.9% during the second quarter. Capital Analysts LLC now owns 16,061 shares of the company’s stock worth $1,165,000 after acquiring an additional 302 shares during the last quarter. OMERS ADMINISTRATION Corp increased its stake in AbbVie by 213.5% during the second quarter. OMERS ADMINISTRATION Corp now owns 30,100 shares of the company’s stock worth $2,183,000 after acquiring an additional 20,500 shares during the last quarter. Brighton Jones LLC bought a new stake in AbbVie during the second quarter worth approximately $499,000. Independence Trust CO increased its stake in AbbVie by 3.9% during the second quarter. Independence Trust CO now owns 26,173 shares of the company’s stock worth $1,898,000 after acquiring an additional 990 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of AbbVie by 10.6% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 196,238 shares of the company’s stock valued at $14,229,000 after buying an additional 18,778 shares during the period. 67.65% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Robert A. Michael sold 6,699 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $88.00, for a total value of $589,512.00. Following the transaction, the vice president now directly owns 10,007 shares of the company’s stock, valued at approximately $880,616. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $85.02, for a total value of $705,666.00. Following the completion of the transaction, the senior vice president now directly owns 93,099 shares in the company, valued at $7,915,276.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 277,125 shares of company stock worth $25,891,756. Insiders own 0.23% of the company’s stock.
AbbVie Inc. (NYSE ABBV) opened at $94.72 on Friday. The company has a market cap of $151,213.86, a P/E ratio of 17.84, a P/E/G ratio of 1.31 and a beta of 1.51. AbbVie Inc. has a 12 month low of $58.60 and a 12 month high of $98.26. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 earnings per share. analysts forecast that AbbVie Inc. will post 5.55 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Thursday, January 11th. This is an increase from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.00%. AbbVie’s dividend payout ratio is presently 62.29%.
ABBV has been the subject of several recent analyst reports. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a research report on Tuesday, October 17th. BidaskClub lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 25th. Goldman Sachs Group Inc restated a “buy” rating and set a $100.00 target price (up previously from $85.00) on shares of AbbVie in a research report on Friday, September 8th. Jefferies Group LLC restated a “buy” rating and set a $107.00 target price (up previously from $94.00) on shares of AbbVie in a research report on Friday, September 15th. Finally, Deutsche Bank AG boosted their price target on AbbVie to $88.00 and gave the company a “hold” rating in a report on Thursday, September 28th. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $94.68.
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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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