AbbVie Inc (NYSE:ABBV) Shares Purchased by Camden National Bank

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Camden National Bank raised its stake in shares of AbbVie Inc (NYSE:ABBV) by 6.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 10,179 shares of the company’s stock after buying an additional 598 shares during the period. Camden National Bank’s holdings in AbbVie were worth $771,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Pure Financial Advisors Inc. grew its holdings in AbbVie by 1.2% during the 3rd quarter. Pure Financial Advisors Inc. now owns 11,846 shares of the company’s stock valued at $897,000 after buying an additional 142 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its stake in shares of AbbVie by 0.3% during the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 44,147 shares of the company’s stock worth $3,210,000 after purchasing an additional 147 shares during the period. Adirondack Trust Co. lifted its stake in shares of AbbVie by 1.2% during the 3rd quarter. Adirondack Trust Co. now owns 12,569 shares of the company’s stock worth $952,000 after purchasing an additional 150 shares during the period. Weatherly Asset Management L. P. lifted its stake in shares of AbbVie by 1.8% during the 2nd quarter. Weatherly Asset Management L. P. now owns 8,317 shares of the company’s stock worth $605,000 after purchasing an additional 151 shares during the period. Finally, Golden State Wealth Management LLC lifted its stake in shares of AbbVie by 4.2% during the 2nd quarter. Golden State Wealth Management LLC now owns 3,833 shares of the company’s stock worth $278,000 after purchasing an additional 153 shares during the period. Hedge funds and other institutional investors own 68.14% of the company’s stock.

In other news, major shareholder Istar Inc. bought 40,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $28.52 per share, with a total value of $1,140,800.00. Also, SVP Nicholas Donoghoe bought 7,525 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was purchased at an average cost of $66.19 per share, for a total transaction of $498,079.75. Following the completion of the transaction, the senior vice president now directly owns 13,090 shares in the company, valued at approximately $866,427.10. The disclosure for this purchase can be found here. Insiders purchased a total of 183,077 shares of company stock worth $10,705,751 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

A number of research analysts have weighed in on the company. Wolfe Research raised AbbVie from an “underperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Svb Leerink raised AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price target on the stock in a research note on Wednesday, June 26th. Cowen set a $90.00 price target on AbbVie and gave the stock a “buy” rating in a research note on Tuesday, September 24th. TheStreet lowered AbbVie from a “b-” rating to a “c” rating in a research note on Monday, August 26th. Finally, Citigroup raised AbbVie from a “neutral” rating to a “buy” rating and increased their price target for the stock from $87.00 to $90.00 in a research note on Thursday, September 26th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. AbbVie currently has an average rating of “Hold” and a consensus target price of $89.97.

Shares of ABBV traded down $0.82 during trading hours on Friday, hitting $73.63. The stock had a trading volume of 7,151,276 shares, compared to its average volume of 7,972,179. The firm has a market cap of $108.71 billion, a P/E ratio of 9.31, a P/E/G ratio of 1.50 and a beta of 0.99. The company’s fifty day simple moving average is $70.30 and its 200 day simple moving average is $73.90. AbbVie Inc has a 12-month low of $62.66 and a 12-month high of $94.98.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 26th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.05. The business had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.09 billion. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the company posted $2.00 EPS. As a group, sell-side analysts expect that AbbVie Inc will post 8.9 EPS for the current year.

The company also recently announced a — dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a $1.07 dividend. This represents a dividend yield of 6.4%. The ex-dividend date is Friday, October 11th. AbbVie’s dividend payout ratio (DPR) is currently 54.11%.

About AbbVie

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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