Bogart Wealth LLC Grows Holdings in AbbVie Inc (ABBV)
Bogart Wealth LLC grew its holdings in AbbVie Inc (NYSE:ABBV) by 36.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,439 shares of the company’s stock after purchasing an additional 6,491 shares during the quarter. AbbVie comprises approximately 1.1% of Bogart Wealth LLC’s portfolio, making the stock its 14th largest holding. Bogart Wealth LLC’s holdings in AbbVie were worth $1,772,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. MPS Loria Financial Planners LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth approximately $1,581,000. Frontier Investment Mgmt Co. increased its holdings in shares of AbbVie by 34.8% during the 2nd quarter. Frontier Investment Mgmt Co. now owns 9,979 shares of the company’s stock worth $724,000 after buying an additional 2,574 shares during the last quarter. W. E. Donoghue & Co. LLC acquired a new stake in AbbVie in the 2nd quarter valued at approximately $16,696,000. Intl Fcstone Inc. increased its holdings in AbbVie by 188.4% in the 2nd quarter. Intl Fcstone Inc. now owns 30,430 shares of the company’s stock valued at $2,206,000 after purchasing an additional 19,878 shares during the last quarter. Finally, M Holdings Securities Inc. increased its holdings in AbbVie by 51.5% in the 2nd quarter. M Holdings Securities Inc. now owns 11,010 shares of the company’s stock valued at $798,000 after purchasing an additional 3,745 shares during the last quarter. 69.32% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently weighed in on ABBV. Leerink Swann set a $106.00 target price on shares of AbbVie and gave the company a “buy” rating in a report on Tuesday, December 5th. UBS downgraded shares of AbbVie from a “buy” rating to a “neutral” rating and lifted their target price for the company from $79.00 to $92.00 in a report on Monday, September 25th. SunTrust Banks reiterated a “buy” rating and issued a $95.00 target price on shares of AbbVie in a report on Wednesday, September 13th. Argus lifted their target price on shares of AbbVie from $90.00 to $110.00 and gave the company a “buy” rating in a report on Friday, September 29th. Finally, Jefferies Group reiterated a “buy” rating and issued a $107.00 target price on shares of AbbVie in a report on Thursday, September 28th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $97.96.
In other AbbVie news, insider Laura J. Schumacher sold 145,510 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $96.71, for a total value of $14,072,272.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert A. Michael sold 6,699 shares of the business’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $88.00, for a total transaction of $589,512.00. Following the completion of the transaction, the vice president now owns 10,007 shares of the company’s stock, valued at approximately $880,616. The disclosure for this sale can be found here. In the last 90 days, insiders sold 414,335 shares of company stock valued at $39,258,362. Insiders own 0.23% of the company’s stock.
AbbVie Inc (ABBV) opened at $97.45 on Friday. The company has a market cap of $155,572.11, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 1.36 and a beta of 1.52. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. AbbVie Inc has a 12 month low of $59.27 and a 12 month high of $98.87.
AbbVie (NYSE:ABBV) last posted its quarterly 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. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.21 earnings per share. sell-side analysts forecast that AbbVie Inc will post 5.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a $0.71 dividend. This is an increase from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, January 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.91%. AbbVie’s payout ratio is 62.29%.
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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