Alpha Omega Wealth Management LLC continued to hold its stake in AbbVie Inc. (NYSE:ABBV) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,786 shares of the company’s stock at the end of the first quarter. Alpha Omega Wealth Management LLC’s holdings in AbbVie were worth $768,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in ABBV. Bollard Group LLC increased its stake in shares of AbbVie by 0.5% in the first quarter. Bollard Group LLC now owns 3,745 shares of the company’s stock valued at $244,000 after buying an additional 20 shares in the last quarter. TRUE Private Wealth Advisors increased its stake in shares of AbbVie by 0.5% in the first quarter. TRUE Private Wealth Advisors now owns 4,787 shares of the company’s stock valued at $313,000 after buying an additional 24 shares in the last quarter. Country Club Trust Company n.a. increased its stake in shares of AbbVie by 0.6% in the first quarter. Country Club Trust Company n.a. now owns 4,434 shares of the company’s stock valued at $289,000 after buying an additional 26 shares in the last quarter. Stratford Consulting LLC increased its stake in shares of AbbVie by 0.7% in the first quarter. Stratford Consulting LLC now owns 3,959 shares of the company’s stock valued at $258,000 after buying an additional 29 shares in the last quarter. Finally, K.J. Harrison & Partners Inc increased its stake in shares of AbbVie by 0.6% in the first quarter. K.J. Harrison & Partners Inc now owns 5,031 shares of the company’s stock valued at $328,000 after buying an additional 31 shares in the last quarter. 68.04% of the stock is currently owned by institutional investors.
AbbVie Inc. (ABBV) opened at 72.77 on Thursday. The firm’s 50-day moving average is $70.98 and its 200 day moving average is $65.70. AbbVie Inc. has a one year low of $55.06 and a one year high of $73.67. The company has a market capitalization of $115.82 billion, a PE ratio of 18.86 and a beta of 1.51.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, April 27th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.02. The company had revenue of $6.54 billion for the quarter, compared to analyst estimates of $6.49 billion. AbbVie had a net margin of 24.07% and a return on equity of 148.83%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.15 earnings per share. On average, equities analysts expect that AbbVie Inc. will post $5.53 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be paid a dividend of $0.64 per share. The ex-dividend date is Wednesday, July 12th. This represents a $2.56 dividend on an annualized basis and a yield of 3.52%. AbbVie’s dividend payout ratio (DPR) is presently 66.32%.
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Several equities research analysts have recently weighed in on ABBV shares. BMO Capital Markets reissued a “hold” rating and issued a $63.00 target price on shares of AbbVie in a research note on Wednesday, March 22nd. Societe Generale raised shares of AbbVie from a “sell” rating to a “hold” rating in a research note on Wednesday, March 22nd. Leerink Swann set a $71.00 target price on shares of AbbVie and gave the company a “hold” rating in a research note on Thursday, April 20th. Deutsche Bank AG increased their target price on shares of AbbVie from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Finally, Vetr downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $74.98 target price on the stock. in a research note on Thursday, May 4th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $73.78.
In related news, EVP Carlos Alban sold 43,000 shares of the company’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $67.00, for a total transaction of $2,881,000.00. Following the sale, the executive vice president now directly owns 114,745 shares in the company, valued at $7,687,915. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Laura J. Schumacher sold 79,800 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $70.00, for a total transaction of $5,586,000.00. Following the sale, the insider now owns 187,625 shares in the company, valued at $13,133,750. The disclosure for this sale can be found here. Insiders have sold 278,135 shares of company stock worth $18,841,085 over the last quarter. 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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