Sheaff Brock Investment Advisors LLC grew its position in AbbVie Inc (NYSE:ABBV) by 0.4% during the third quarter, Holdings Channel reports. The firm owned 107,685 shares of the company’s stock after acquiring an additional 438 shares during the period. AbbVie makes up approximately 0.9% of Sheaff Brock Investment Advisors LLC’s portfolio, making the stock its 18th largest position. Sheaff Brock Investment Advisors LLC’s holdings in AbbVie were worth $8,154,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in ABBV. Arbor Wealth Management LLC acquired a new stake in AbbVie during the second quarter worth about $28,000. Horrell Capital Management Inc. acquired a new stake in AbbVie during the second quarter worth about $33,000. TD Capital Management LLC acquired a new stake in AbbVie during the second quarter worth about $33,000. Lowe Wealth Advisors LLC grew its holdings in AbbVie by 206.7% during the second quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock worth $33,000 after acquiring an additional 310 shares during the period. Finally, Financial Gravity Wealth Inc. grew its holdings in AbbVie by 82.9% during the second quarter. Financial Gravity Wealth Inc. now owns 503 shares of the company’s stock worth $37,000 after acquiring an additional 228 shares during the period. 68.22% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on the company. UBS Group raised AbbVie from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $85.00 to $79.00 in a report on Thursday, September 12th. Cowen set a $90.00 target price on AbbVie and gave the stock a “buy” rating in a report on Tuesday, September 24th. Piper Jaffray Companies raised their target price on AbbVie from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. TheStreet lowered AbbVie from a “b-” rating to a “c” rating in a report on Monday, August 26th. Finally, Citigroup raised AbbVie from a “neutral” rating to a “buy” rating and raised their target price for the stock from $87.00 to $90.00 in a report on Thursday, September 26th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $86.51.
In other AbbVie news, SVP Nicholas Donoghoe acquired 7,525 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were bought at an average cost of $66.19 per share, with a total value of $498,079.75. Following the completion of the acquisition, the senior vice president now owns 13,090 shares in the company, valued at $866,427.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Istar Inc. bought 40,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of $28.52 per share, for a total transaction of $1,140,800.00. Over the last three months, insiders acquired 153,077 shares of company stock worth $8,687,351. 0.08% of the stock is owned by corporate insiders.
ABBV traded up $1.80 during trading on Monday, hitting $78.33. The company’s stock had a trading volume of 6,845,093 shares, compared to its average volume of 7,249,400. AbbVie Inc has a twelve month low of $62.66 and a twelve month high of $94.98. The business’s fifty day simple moving average is $73.18 and its 200 day simple moving average is $73.50. The firm has a market capitalization of $113.55 billion, a price-to-earnings ratio of 9.90, a P/E/G ratio of 1.56 and a beta of 0.99.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 26th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.21 by $0.05. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.09 billion. During the same period last year, the company earned $2.00 earnings per share. AbbVie’s quarterly revenue was down .3% compared to the same quarter last year. Equities research analysts forecast that AbbVie Inc will post 8.93 earnings per share for the current year.
The firm also recently disclosed a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $1.07 dividend. This represents a yield of 6.4%. The ex-dividend date of this dividend is Friday, October 11th. AbbVie’s payout ratio is currently 54.11%.
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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