AbbVie Inc. (ABBV) Holdings Cut by Capstone Asset Management Co.
Capstone Asset Management Co. trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 214,609 shares of the company’s stock after selling 3,373 shares during the period. Capstone Asset Management Co.’s holdings in AbbVie were worth $15,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. Accident Compensation Corp lifted its holdings in AbbVie by 24.7% during the 1st quarter. Accident Compensation Corp now owns 66,200 shares of the company’s stock worth $4,314,000 after buying an additional 13,100 shares during the last quarter. Investec Asset Management LTD lifted its holdings in AbbVie by 3.6% during the 1st quarter. Investec Asset Management LTD now owns 166,978 shares of the company’s stock worth $10,880,000 after buying an additional 5,801 shares during the last quarter. Comerica Securities Inc. lifted its holdings in AbbVie by 832.7% during the 1st quarter. Comerica Securities Inc. now owns 66,443 shares of the company’s stock worth $4,329,000 after buying an additional 59,319 shares during the last quarter. Clean Yield Group lifted its holdings in AbbVie by 25.0% during the 1st quarter. Clean Yield Group now owns 9,598 shares of the company’s stock worth $625,000 after buying an additional 1,920 shares during the last quarter. Finally, Suntrust Banks Inc. lifted its holdings in AbbVie by 3.7% during the 1st quarter. Suntrust Banks Inc. now owns 1,216,484 shares of the company’s stock worth $79,265,000 after buying an additional 43,617 shares during the last quarter. 68.25% of the stock is owned by institutional investors.
Shares of AbbVie Inc. (NYSE:ABBV) traded up 0.077% during trading on Thursday, reaching $87.477. The company had a trading volume of 2,870,388 shares. The stock has a market capitalization of $139.45 billion, a price-to-earnings ratio of 21.514 and a beta of 1.48. AbbVie Inc. has a 52-week low of $55.06 and a 52-week high of $89.69. The stock has a 50 day moving average of $75.76 and a 200 day moving average of $69.87. AbbVie also saw some unusual options trading activity on Monday. Investors bought 278 put options on the stock. This represents an increase of approximately 121% compared to the average volume of 126 put options.
AbbVie (NYSE:ABBV) last announced 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. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The company had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the business earned $1.26 earnings per share. AbbVie’s revenue was up 7.6% compared to the same quarter last year. Equities research analysts forecast that AbbVie Inc. will post $5.52 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be paid a $0.64 dividend. The ex-dividend date is Thursday, October 12th. This represents a $2.56 annualized dividend and a dividend yield of 2.93%. AbbVie’s payout ratio is currently 62.90%.
A number of analysts have recently commented on ABBV shares. Deutsche Bank AG reiterated a “hold” rating and set a $66.00 target price (up previously from $65.00) on shares of AbbVie in a research report on Monday, July 17th. Vetr upgraded AbbVie from a “hold” rating to a “buy” rating and set a $76.28 target price on the stock in a research report on Wednesday, July 26th. BidaskClub cut AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Jefferies Group LLC reiterated a “buy” rating and set a $94.00 target price (up previously from $92.00) on shares of AbbVie in a research report on Monday, July 17th. Finally, Zacks Investment Research upgraded AbbVie from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $82.38.
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In other AbbVie news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $85.02, for a total value of $705,666.00. Following the sale, the senior vice president now owns 93,099 shares in the company, valued at $7,915,276.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward J. Rapp purchased 4,000 shares of the company’s stock in a transaction on Monday, July 31st. The stock was purchased at an average price of $70.45 per share, for a total transaction of $281,800.00. Following the purchase, the director now directly 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 373,191 shares of company stock worth $26,598,305 in the last 90 days. 0.23% of the stock is owned by company insiders.
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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