AbbVie Inc. (ABBV) Stake Reduced by Opus Capital Group LLC
Opus Capital Group LLC cut its stake in AbbVie Inc. (NYSE:ABBV) by 4.9% during the second quarter, Holdings Channel reports. The institutional investor owned 15,890 shares of the company’s stock after selling 824 shares during the period. Opus Capital Group LLC’s holdings in AbbVie were worth $983,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of ABBV. Acropolis Investment Management LLC acquired a new stake in shares of AbbVie during the second quarter valued at $106,000. CapWealth Advisors LLC increased its stake in shares of AbbVie by 55.2% in the first quarter. CapWealth Advisors LLC now owns 1,797 shares of the company’s stock valued at $103,000 after buying an additional 639 shares in the last quarter. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie during the second quarter valued at $114,000. Hartford Financial Management Inc. increased its stake in shares of AbbVie by 100.0% in the second quarter. Hartford Financial Management Inc. now owns 1,958 shares of the company’s stock valued at $115,000 after buying an additional 979 shares in the last quarter. Finally, Americafirst Capital Management LLC acquired a new stake in shares of AbbVie during the second quarter valued at $122,000. 68.38% of the stock is owned by institutional investors and hedge funds.
AbbVie Inc. (NYSE:ABBV) traded down 0.57% during mid-day trading on Monday, hitting $62.91. The stock had a trading volume of 7,896,617 shares. The stock has a 50-day moving average price of $65.56 and a 200 day moving average price of $61.66. AbbVie Inc. has a 12-month low of $45.45 and a 12-month high of $68.12. The firm has a market cap of $102.45 billion, a P/E ratio of 18.15 and a beta of 1.49.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.06. The business earned $6.43 billion during the quarter, compared to analysts’ expectations of $6.20 billion. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.08 EPS. Equities analysts anticipate that AbbVie Inc. will post $4.81 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be given a dividend of $0.57 per share. The ex-dividend date is Wednesday, October 12th. This represents a $2.28 annualized dividend and a dividend yield of 3.62%. AbbVie’s dividend payout ratio is currently 65.71%.
Several equities research analysts have weighed in on the company. Credit Suisse Group AG reissued a “buy” rating on shares of AbbVie in a report on Sunday, July 10th. Vetr cut AbbVie from a “buy” rating to a “hold” rating and set a $67.01 price objective for the company. in a research note on Tuesday, July 26th. Jefferies Group restated a “buy” rating on shares of AbbVie in a research note on Monday, June 6th. BMO Capital Markets restated a “market perform” rating and issued a $66.00 price objective on shares of AbbVie in a research note on Friday, July 29th. Finally, Zacks Investment Research upgraded AbbVie from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $70.39.
In related news, insider Laura J. Schumacher sold 50,000 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $65.00, for a total value of $3,250,000.00. Following the completion of the sale, the insider now directly owns 144,138 shares of the company’s stock, valued at approximately $9,368,970. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Laura J. Schumacher sold 186,106 shares of the company’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $60.03, for a total value of $11,171,943.18. Following the completion of the sale, the executive vice president now directly owns 260,438 shares of the company’s stock, valued at $15,634,093.14. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company operates in pharmaceutical products segment. 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 (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions.
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