Pathstone Family Office LLC boosted its stake in AbbVie Inc (NYSE:ABBV) by 18.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,164 shares of the company’s stock after acquiring an additional 1,282 shares during the period. Pathstone Family Office LLC’s holdings in AbbVie were worth $595,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Weaver Consulting Group purchased a new stake in AbbVie in the first quarter valued at $25,000. Arbor Wealth Management LLC purchased a new stake in AbbVie in the second quarter valued at $28,000. Lowe Wealth Advisors LLC lifted its position in AbbVie by 206.7% in the second quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock valued at $33,000 after acquiring an additional 310 shares during the last quarter. Horrell Capital Management Inc. purchased a new stake in AbbVie in the second quarter valued at $33,000. Finally, TD Capital Management LLC purchased a new stake in AbbVie in the second quarter valued at $33,000. 68.15% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Roxanne S. Austin purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were acquired at an average cost of $66.35 per share, for a total transaction of $663,500.00. Following the completion of the purchase, the director now directly owns 62,114 shares in the company, valued at approximately $4,121,263.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP William J. Chase purchased 30,400 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were purchased at an average price of $67.30 per share, for a total transaction of $2,045,920.00. Following the completion of the purchase, the executive vice president now owns 169,552 shares of the company’s stock, valued at $11,410,849.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 159,977 shares of company stock worth $10,626,621. Company insiders own 0.08% of the company’s stock.
Shares of NYSE:ABBV traded up $0.07 on Monday, reaching $70.58. The company’s stock had a trading volume of 5,945,658 shares, compared to its average volume of 7,800,573. The stock’s 50-day moving average is $66.20 and its two-hundred day moving average is $74.77. AbbVie Inc has a 52-week low of $62.66 and a 52-week high of $96.60. The stock has a market capitalization of $104.72 billion, a P/E ratio of 8.92, a PEG ratio of 1.68 and a beta of 0.95.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 26th. The company reported $2.26 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 business had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.09 billion. During the same period in the prior year, the company earned $2.00 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. On average, sell-side analysts forecast that AbbVie Inc will post 8.9 earnings per share for the current year.
The company also recently declared a — dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a dividend yield of 6.4%. AbbVie’s dividend payout ratio (DPR) is 54.11%.
A number of equities research analysts recently weighed in on ABBV shares. Piper Jaffray Companies boosted their price target on shares of AbbVie from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Citigroup reaffirmed a “hold” rating on shares of AbbVie in a report on Wednesday, June 26th. Goldman Sachs Group started coverage on shares of AbbVie in a report on Tuesday, May 28th. They issued a “neutral” rating and a $84.00 target price for the company. TheStreet cut shares of AbbVie from a “b-” rating to a “c” rating in a report on Monday, August 26th. Finally, Svb Leerink raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 target price for the company in a report on Wednesday, June 26th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. AbbVie presently has a consensus rating of “Hold” and a consensus target price of $91.20.
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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