Columbia Asset Management raised its holdings in AbbVie Inc. (NYSE:ABBV) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,889 shares of the company’s stock after purchasing an additional 300 shares during the period. Columbia Asset Management’s holdings in AbbVie were worth $1,947,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. First Command Financial Services Inc. lifted its position in AbbVie by 6.8% during the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock valued at $102,000 after purchasing an additional 99 shares during the last quarter. Atwood & Palmer Inc. lifted its holdings in shares of AbbVie by 1,333.3% in the 1st quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock worth $140,000 after acquiring an additional 2,000 shares during the last quarter. Tradewinds Capital Management LLC lifted its holdings in shares of AbbVie by 87.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock worth $148,000 after acquiring an additional 1,057 shares during the last quarter. American National Bank lifted its holdings in shares of AbbVie by 13.8% in the 1st quarter. American National Bank now owns 2,471 shares of the company’s stock worth $161,000 after acquiring an additional 299 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC bought a new stake in shares of AbbVie in the 1st quarter worth approximately $183,000. Hedge funds and other institutional investors own 68.29% of the company’s stock.
A number of research firms recently commented on ABBV. Zacks Investment Research lowered shares of AbbVie from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Vetr upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 price target for the company in a report on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $100.00 price target (up from $85.00) on shares of AbbVie in a report on Friday, September 8th. Jefferies Group LLC reissued a “buy” rating on shares of AbbVie in a research report on Friday, May 26th. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $95.00 target price (up from $70.00) on shares of AbbVie in a research report on Monday. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $82.38.
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Shares of AbbVie Inc. (ABBV) traded down 2.19% during trading on Friday, hitting $87.27. 9,104,044 shares of the stock traded hands. The stock has a 50 day moving average of $74.42 and a 200 day moving average of $69.26. AbbVie Inc. has a 52-week low of $55.06 and a 52-week high of $89.69. The firm has a market cap of $139.12 billion, a price-to-earnings ratio of 21.46 and a beta of 1.48.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 28th. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.40 by $0.02. The business had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.93 billion. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm earned $1.26 EPS. Analysts expect that AbbVie Inc. will post $5.52 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a $0.64 dividend. The ex-dividend date is Thursday, October 12th. This represents a $2.56 annualized dividend and a dividend yield of 2.87%. AbbVie’s dividend payout ratio is currently 62.90%.
In related news, Chairman Richard A. Gonzalez sold 87,899 shares of AbbVie stock in a transaction on Friday, August 4th. The stock was sold at an average price of $71.02, for a total transaction of $6,242,586.98. Following the completion of the transaction, the chairman now directly owns 342,353 shares of the company’s stock, valued at $24,313,910.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Edward J. Rapp acquired 4,000 shares of AbbVie stock in a transaction that occurred on Monday, July 31st. The shares were purchased at an average cost of $70.45 per share, with a total value of $281,800.00. Following the completion of the acquisition, the director now owns 15,498 shares of the company’s stock, valued at approximately $1,091,834.10. The disclosure for this purchase can be found here. Insiders sold a total of 373,191 shares of company stock valued at $26,598,305 over the last three months. Insiders own 0.23% of the company’s stock.
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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