Arthur M. Cohen & Associates LLC Acquires 340 Shares of AbbVie Inc. (ABBV)
Arthur M. Cohen & Associates LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,562 shares of the company’s stock after purchasing an additional 340 shares during the period. Arthur M. Cohen & Associates LLC’s holdings in AbbVie were worth $476,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Acropolis Investment Management LLC bought a new stake in AbbVie during the 2nd quarter worth approximately $106,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in AbbVie during the 1st quarter worth approximately $108,000. Atwood & Palmer Inc. raised its stake in AbbVie by 1,333.3% during the 1st quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock worth $140,000 after acquiring an additional 2,000 shares during the period. Tradewinds Capital Management LLC raised its stake in AbbVie by 87.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock worth $148,000 after acquiring an additional 1,057 shares during the period. Finally, Exane Asset Management bought a new stake in AbbVie during the 2nd quarter worth approximately $181,000. Hedge funds and other institutional investors own 68.26% of the company’s stock.
AbbVie Inc. (ABBV) opened at 89.90 on Thursday. The company has a 50 day moving average of $81.10 and a 200-day moving average of $71.64. The stock has a market capitalization of $143.31 billion, a price-to-earnings ratio of 22.11 and a beta of 1.51. AbbVie Inc. has a 12-month low of $55.06 and a 12-month high of $90.95. AbbVie also was the target of unusually large options trading on Monday. Investors acquired 278 put options on the stock. This is an increase of 121% compared to the typical volume of 126 put options.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the company posted $1.26 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities research analysts forecast that AbbVie Inc. will post $5.52 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s dividend payout ratio is currently 62.90%.
A number of equities research analysts have commented on ABBV shares. Societe Generale upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Vetr upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $74.86 target price on the stock in a research note on Thursday, July 6th. Jefferies Group LLC restated a “buy” rating and set a $94.00 target price (up previously from $92.00) on shares of AbbVie in a research note on Monday, July 17th. BidaskClub cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $85.00 target price on shares of AbbVie in a research note on Thursday, August 3rd. Nine analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. AbbVie presently has an average rating of “Buy” and an average target price of $89.90.
In related news, insider Henry O. Gosebruch sold 18,000 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $70.09, for a total value of $1,261,620.00. Following the completion of the transaction, the insider now directly owns 96,074 shares of the company’s stock, valued at approximately $6,733,826.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Robert A. Michael sold 6,699 shares of the stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the transaction, the vice president now directly owns 10,007 shares of the company’s stock, valued at $880,616. The disclosure for this sale can be found here. Over the last three months, insiders sold 379,890 shares of company stock valued at $27,187,817. 0.23% of the stock is owned by corporate insiders.
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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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