Buckley Wealth Management LLC raised its stake in AbbVie Inc (NYSE:ABBV) by 29.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,060 shares of the company’s stock after purchasing an additional 1,826 shares during the quarter. Buckley Wealth Management LLC’s holdings in AbbVie were worth $610,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Weaver Consulting Group bought a new position in AbbVie in the first quarter valued at approximately $25,000. Arbor Wealth Management LLC bought a new position in AbbVie in the second quarter valued at approximately $28,000. Horrell Capital Management Inc. bought a new position in shares of AbbVie during the 2nd quarter worth approximately $33,000. TD Capital Management LLC bought a new position in shares of AbbVie during the 2nd quarter worth approximately $33,000. Finally, Lowe Wealth Advisors LLC boosted its stake in shares of AbbVie by 206.7% during the 2nd quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock worth $33,000 after acquiring an additional 310 shares during the period. Hedge funds and other institutional investors own 68.14% of the company’s stock.
Several research analysts have recently commented on the company. Svb Leerink upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 target price for the company in a research note on Wednesday, June 26th. Leerink Swann upgraded AbbVie to a “buy” rating in a research note on Tuesday, July 2nd. ValuEngine upgraded AbbVie from a “strong sell” rating to a “sell” rating in a research note on Monday, September 30th. Piper Jaffray Companies lifted their target price on AbbVie from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Finally, TheStreet downgraded AbbVie from a “b-” rating to a “c” rating in a research note on Monday, August 26th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. AbbVie has an average rating of “Hold” and an average target price of $89.97.
In related news, EVP Timothy J. Richmond sold 15,515 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $75.02, for a total value of $1,163,935.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Henry O. Gosebruch purchased 30,000 shares of AbbVie stock in a transaction that occurred on Monday, July 29th. The stock was purchased at an average price of $67.28 per share, with a total value of $2,018,400.00. Following the completion of the purchase, the executive vice president now directly owns 75,763 shares in the company, valued at $5,097,334.64. The disclosure for this purchase can be found here. Insiders purchased a total of 183,077 shares of company stock valued at $10,705,751 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.
Shares of NYSE ABBV traded down $0.83 during midday trading on Friday, hitting $73.62. 494,377 shares of the company’s stock were exchanged, compared to its average volume of 7,972,179. The company’s 50 day moving average price is $70.30 and its 200 day moving average price is $73.90. The firm has a market capitalization of $108.71 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 1.50 and a beta of 0.99. AbbVie Inc has a 12 month low of $62.66 and a 12 month high of $94.98.
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 the Thomson Reuters’ consensus estimate of $2.21 by $0.05. The business had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.09 billion. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the company posted $2.00 EPS. As a group, equities analysts forecast that AbbVie Inc will post 8.9 EPS for the current fiscal year.
The company also recently declared a — dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a $1.07 dividend. The ex-dividend date is Friday, October 11th. This represents a yield of 6.4%. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.
AbbVie Company 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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