AbbVie Inc (NYSE:ABBV) Shares Bought by Stonebridge Capital Advisors LLC
Stonebridge Capital Advisors LLC raised its holdings in AbbVie Inc (NYSE:ABBV) by 2.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 92,627 shares of the company’s stock after purchasing an additional 2,319 shares during the quarter. AbbVie comprises approximately 1.2% of Stonebridge Capital Advisors LLC’s portfolio, making the stock its 29th largest holding. Stonebridge Capital Advisors LLC’s holdings in AbbVie were worth $6,736,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Outlook Wealth Advisors LLC increased its stake in shares of AbbVie by 8.0% during the second quarter. Outlook Wealth Advisors LLC now owns 9,493 shares of the company’s stock worth $690,000 after acquiring an additional 703 shares during the period. Nuveen Asset Management LLC increased its stake in shares of AbbVie by 1,715.8% during the second quarter. Nuveen Asset Management LLC now owns 9,593,845 shares of the company’s stock worth $697,664,000 after acquiring an additional 9,065,487 shares during the period. Andra AP fonden increased its stake in shares of AbbVie by 7.4% during the second quarter. Andra AP fonden now owns 89,800 shares of the company’s stock worth $6,530,000 after acquiring an additional 6,200 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of AbbVie by 81.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 5,176,070 shares of the company’s stock worth $376,404,000 after acquiring an additional 2,326,510 shares during the period. Finally, Hamilton Capital Management Inc. increased its stake in shares of AbbVie by 4,384.1% during the second quarter. Hamilton Capital Management Inc. now owns 313,800 shares of the company’s stock worth $22,820,000 after acquiring an additional 306,802 shares during the period. Institutional investors own 68.15% of the company’s stock.
A number of brokerages have recently issued reports on ABBV. Citigroup reiterated a “hold” rating on shares of AbbVie in a research note on Wednesday, June 26th. Piper Jaffray Companies boosted their price target on shares of AbbVie from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. ValuEngine lowered shares of AbbVie from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 26th. TheStreet lowered shares of AbbVie from a “b-” rating to a “c” rating in a research note on Monday, August 26th. Finally, Leerink Swann upgraded shares of AbbVie to a “buy” rating in a research note on Tuesday, July 2nd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $91.20.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 26th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.21 by $0.05. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The firm had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.09 billion. During the same quarter in the prior year, the business posted $2.00 earnings per share. AbbVie’s revenue for the quarter was down .3% compared to the same quarter last year. Sell-side analysts predict that AbbVie Inc will post 8.9 earnings per share for the current year.
The firm also recently disclosed a — dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $1.07 dividend. This represents a dividend yield of 6.4%. The ex-dividend date is Friday, October 11th. AbbVie’s payout ratio is currently 54.11%.
In other AbbVie news, Director Roxanne S. Austin acquired 55,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of $65.86 per share, with a total value of $3,622,300.00. Following the completion of the transaction, the director now directly owns 92,114 shares of the company’s stock, valued at $6,066,628.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Henry O. Gosebruch acquired 30,000 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was acquired at an average cost of $67.28 per share, with a total value of $2,018,400.00. Following the transaction, the executive vice president now directly owns 75,763 shares of the company’s stock, valued at $5,097,334.64. The disclosure for this purchase can be found here. Insiders bought 184,977 shares of company stock valued at $12,387,121 in the last three months. Company insiders own 0.08% of the company’s stock.
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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