AbbVie Inc. (ABBV) Position Maintained by Reilly Financial Advisors LLC
Reilly Financial Advisors LLC maintained its stake in AbbVie Inc. (NYSE:ABBV) during the second quarter, Holdings Channel reports. The firm owned 3,448 shares of the company’s stock at the end of the second quarter. Reilly Financial Advisors LLC’s holdings in AbbVie were worth $250,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in AbbVie during the fourth quarter worth about $823,984,000. State Street Corp raised its position in AbbVie by 2.4% in the first quarter. State Street Corp now owns 72,969,530 shares of the company’s stock worth $4,754,696,000 after buying an additional 1,696,042 shares during the period. Wedge Capital Management L L P NC purchased a new position in AbbVie during the first quarter worth about $46,744,000. Orbis Allan Gray Ltd raised its position in AbbVie by 11.8% in the fourth quarter. Orbis Allan Gray Ltd now owns 5,485,407 shares of the company’s stock worth $343,496,000 after buying an additional 579,378 shares during the period. Finally, Bank of Nova Scotia raised its position in AbbVie by 297.9% in the first quarter. Bank of Nova Scotia now owns 606,321 shares of the company’s stock worth $39,507,000 after buying an additional 453,955 shares during the period. Institutional investors and hedge funds own 67.69% of the company’s stock.
AbbVie Inc. (ABBV) traded up 0.37% on Monday, hitting $70.89. 842,895 shares of the stock were exchanged. The company has a market cap of $113.01 billion, a PE ratio of 17.43 and a beta of 1.50. The company’s 50-day moving average is $72.05 and its 200-day moving average is $66.76. AbbVie Inc. has a 52 week low of $55.06 and a 52 week high of $75.04.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 28th. The company reported $1.42 EPS for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.02. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The firm had revenue of $6.94 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period last year, the company posted $1.26 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, analysts predict that AbbVie Inc. will post $5.52 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $2.56 dividend on an annualized basis and a yield of 3.62%. AbbVie’s payout ratio is presently 62.90%.
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A number of research analysts have issued reports on the stock. BidaskClub lowered shares of AbbVie from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Piper Jaffray Companies restated a “buy” rating and issued a $85.00 target price on shares of AbbVie in a report on Thursday, August 3rd. Cowen and Company set a $70.00 target price on shares of AbbVie and gave the company a “hold” rating in a report on Sunday, July 30th. Vetr upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 target price on the stock in a report on Wednesday, July 26th. Finally, Credit Suisse Group restated a “neutral” rating and issued a $74.00 target price (up from $65.00) on shares of AbbVie in a report on Thursday, July 20th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. AbbVie presently has a consensus rating of “Buy” and a consensus price target of $74.66.
In other news, Chairman Richard A. Gonzalez sold 87,899 shares of AbbVie stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $71.02, for a total transaction of $6,242,586.98. Following the completion of the sale, the chairman now directly owns 342,353 shares in the company, valued at approximately $24,313,910.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Edward J. Rapp purchased 4,000 shares of AbbVie stock in a transaction dated Monday, July 31st. The shares were purchased at an average price of $70.45 per share, with a total value of $281,800.00. Following the completion of the acquisition, the director now owns 15,498 shares in the company, valued at $1,091,834.10. The disclosure for this purchase can be found here. Insiders have sold a total of 600,026 shares of company stock valued at $41,852,724 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.
AbbVie Company Profile
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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