AbbVie Inc (NYSE:ABBV) Shares Bought by Occidental Asset Management LLC

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Occidental Asset Management LLC increased its holdings in AbbVie Inc (NYSE:ABBV) by 19.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 7,665 shares of the company’s stock after buying an additional 1,231 shares during the period. Occidental Asset Management LLC’s holdings in AbbVie were worth $557,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Benedict Financial Advisors Inc. grew its stake in shares of AbbVie by 11.0% during the 2nd quarter. Benedict Financial Advisors Inc. now owns 3,046 shares of the company’s stock worth $221,000 after purchasing an additional 302 shares during the period. Sigma Planning Corp grew its stake in shares of AbbVie by 9.3% during the 2nd quarter. Sigma Planning Corp now owns 71,966 shares of the company’s stock worth $5,233,000 after purchasing an additional 6,095 shares during the period. Kavar Capital Partners LLC grew its stake in shares of AbbVie by 12.3% during the 2nd quarter. Kavar Capital Partners LLC now owns 33,696 shares of the company’s stock worth $2,450,000 after purchasing an additional 3,700 shares during the period. Stephens Inc. AR grew its stake in shares of AbbVie by 17.6% during the 2nd quarter. Stephens Inc. AR now owns 240,549 shares of the company’s stock worth $17,493,000 after purchasing an additional 36,043 shares during the period. Finally, Cohen Lawrence B acquired a new stake in shares of AbbVie during the 2nd quarter worth approximately $353,000. Institutional investors own 68.15% of the company’s stock.

AbbVie stock traded down $0.50 during trading on Thursday, reaching $63.00. The company had a trading volume of 5,846,899 shares, compared to its average volume of 10,238,484. The company has a 50-day moving average of $68.73. AbbVie Inc has a 1-year low of $63.31 and a 1-year high of $100.23. The company has a market capitalization of $95.41 billion, a price-to-earnings ratio of 7.96, a PEG ratio of 1.54 and a beta of 0.96.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.05. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The firm had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.09 billion. During the same quarter last year, the company earned $2.00 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. Analysts anticipate that AbbVie Inc will post 8.88 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a $1.07 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $4.28 dividend on an annualized basis and a yield of 6.79%. AbbVie’s dividend payout ratio is currently 54.11%.

A number of brokerages have recently commented on ABBV. Wolfe Research raised shares of AbbVie from an “underperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Leerink Swann raised shares of AbbVie to a “buy” rating in a research note on Tuesday, July 2nd. Svb Leerink raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price objective on the stock in a research note on Wednesday, June 26th. BMO Capital Markets raised shares of AbbVie from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $71.00 to $79.00 in a research note on Sunday, April 28th. Finally, Goldman Sachs Group began coverage on shares of AbbVie in a research note on Tuesday, May 28th. They set a “neutral” rating and a $84.00 price objective on the stock. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $92.05.

In related news, EVP William J. Chase purchased 30,400 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were purchased at an average price of $67.30 per share, with a total value of $2,045,920.00. Following the purchase, the executive vice president now owns 169,552 shares of the company’s stock, valued at $11,410,849.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roxanne S. Austin purchased 55,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average cost of $65.86 per share, for a total transaction of $3,622,300.00. Following the purchase, the director now directly owns 92,114 shares in the company, valued at approximately $6,066,628.04. The disclosure for this purchase can be found here. Insiders purchased a total of 136,900 shares of company stock worth $9,126,370 in the last three months. 0.08% of the stock is owned by corporate insiders.

AbbVie 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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