AR Asset Management Inc. Continues to Hold Holdings in AbbVie Inc. (ABBV)
AR Asset Management Inc. maintained its stake in AbbVie Inc. (NYSE:ABBV) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,200 shares of the company’s stock at the close of the second quarter. AR Asset Management Inc.’s holdings in AbbVie were worth $885,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the stock. Hanson McClain Inc. lifted its position in AbbVie by 5.0% during the second quarter. Hanson McClain Inc. now owns 3,968 shares of the company’s stock worth $288,000 after buying an additional 190 shares in the last quarter. Burt Wealth Advisors lifted its position in AbbVie by 14.8% during the second quarter. Burt Wealth Advisors now owns 3,106 shares of the company’s stock worth $225,000 after buying an additional 400 shares in the last quarter. Mastrapasqua Asset Management Inc. lifted its position in AbbVie by 5.5% during the second quarter. Mastrapasqua Asset Management Inc. now owns 12,755 shares of the company’s stock worth $925,000 after buying an additional 660 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its position in AbbVie by 11.1% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 11,127 shares of the company’s stock worth $807,000 after buying an additional 1,116 shares in the last quarter. Finally, TRUE Private Wealth Advisors lifted its position in AbbVie by 0.6% during the second quarter. TRUE Private Wealth Advisors now owns 4,814 shares of the company’s stock worth $349,000 after buying an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 67.65% of the company’s stock.
ABBV has been the topic of a number of research analyst reports. Zacks Investment Research downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 11th. BMO Capital Markets set a $66.00 target price on AbbVie and gave the company a “hold” rating in a research report on Friday, October 27th. Leerink Swann reduced their target price on AbbVie from $108.00 to $107.00 and set an “outperform” rating on the stock in a research report on Monday, October 30th. Finally, SunTrust Banks, Inc. restated a “buy” rating on shares of AbbVie in a research report on Monday, October 30th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. AbbVie has a consensus rating of “Buy” and an average target price of $93.68.
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In related news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $85.02, for a total transaction of $705,666.00. Following the completion of the transaction, the senior vice president now directly owns 93,099 shares of the company’s stock, valued at approximately $7,915,276.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Severino sold 25,633 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $94.69, for a total value of $2,427,188.77. Following the transaction, the executive vice president now directly owns 114,922 shares of the company’s stock, valued at $10,881,964.18. The disclosure for this sale can be found here. Insiders have sold a total of 58,932 shares of company stock valued at $5,379,432 over the last three months. 0.23% of the stock is currently owned by insiders.
AbbVie Inc. (ABBV) opened at $93.61 on Monday. AbbVie Inc. has a one year low of $58.60 and a one year high of $98.26. The company has a market capitalization of $149,220.00, a price-to-earnings ratio of 17.63, a P/E/G ratio of 1.30 and a beta of 1.52. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the firm posted $1.21 EPS. AbbVie’s revenue for the quarter was up 8.8% on a year-over-year basis. analysts anticipate that AbbVie Inc. will post 5.55 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.03%. This is a boost from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s payout ratio is presently 61.84%.
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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