Lido Advisors LLC grew its position in shares of AbbVie Inc (NYSE:ABBV) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,371 shares of the company’s stock after purchasing an additional 537 shares during the quarter. Lido Advisors LLC’s holdings in AbbVie were worth $2,165,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of ABBV. Cornerstone Wealth Management LLC increased its holdings in AbbVie by 8,774.3% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,102,183 shares of the company’s stock worth $11,837,000 after acquiring an additional 1,089,763 shares in the last quarter. SeaCrest Wealth Management LLC increased its holdings in AbbVie by 43.1% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 34,815 shares of the company’s stock worth $3,226,000 after acquiring an additional 10,483 shares in the last quarter. Lynch & Associates IN increased its holdings in AbbVie by 1.8% in the 2nd quarter. Lynch & Associates IN now owns 60,094 shares of the company’s stock worth $5,568,000 after acquiring an additional 1,037 shares in the last quarter. Riverhead Capital Management LLC increased its holdings in AbbVie by 10.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 117,611 shares of the company’s stock worth $10,897,000 after acquiring an additional 10,702 shares in the last quarter. Finally, Highbridge Capital Management LLC increased its holdings in AbbVie by 2,285.6% in the 1st quarter. Highbridge Capital Management LLC now owns 120,206 shares of the company’s stock worth $11,377,000 after acquiring an additional 125,706 shares in the last quarter. 69.44% of the stock is owned by hedge funds and other institutional investors.
Shares of ABBV stock opened at $84.27 on Tuesday. 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 stock has a market cap of $133.21 billion, a PE ratio of 13.01, a PEG ratio of 0.87 and a beta of 1.54. AbbVie Inc has a twelve month low of $83.50 and a twelve month high of $125.86.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 27th. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.02. The firm had revenue of $8.28 billion for the quarter, compared to analysts’ expectations of $8.22 billion. AbbVie had a net margin of 20.84% and a return on equity of 362.05%. The company’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 EPS. As a group, analysts forecast that AbbVie Inc will post 7.86 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be given a dividend of $0.96 per share. The ex-dividend date is Friday, October 12th. This represents a $3.84 annualized dividend and a dividend yield of 4.56%. AbbVie’s payout ratio is 68.57%.
ABBV has been the topic of several recent research reports. Piper Jaffray Companies reaffirmed a “hold” rating and set a $100.00 target price on shares of AbbVie in a research note on Friday, July 27th. BMO Capital Markets reaffirmed a “sell” rating and set a $78.00 target price on shares of AbbVie in a research note on Wednesday, August 22nd. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research note on Monday, October 1st. ValuEngine cut shares of AbbVie from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Bank of America lowered their target price on shares of AbbVie from $107.00 to $106.00 and set a “buy” rating on the stock in a research note on Thursday, October 4th. Five analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $105.68.
In other news, EVP Michael Severino sold 50,000 shares of the business’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the transaction, the executive vice president now 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 SEC, which is available at this hyperlink. Insiders own 0.07% of the company’s stock.
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, to treat adults with genotype 1 chronic hepatitis C.
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