Buckingham Asset Management LLC Has $1.72 Million Stake in AbbVie Inc. (ABBV)
Buckingham Asset Management LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 57.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,680 shares of the company’s stock after purchasing an additional 8,645 shares during the quarter. Buckingham Asset Management LLC’s holdings in AbbVie were worth $1,717,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of ABBV. Savant Capital LLC lifted its position in shares of AbbVie by 1.3% during the 2nd quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock valued at $4,433,000 after buying an additional 793 shares in the last quarter. Princeton Capital Management Inc. purchased a new position in shares of AbbVie during the 2nd quarter valued at approximately $1,394,000. Accident Compensation Corp lifted its position in shares of AbbVie by 24.7% during the 1st quarter. Accident Compensation Corp now owns 66,200 shares of the company’s stock valued at $4,314,000 after buying an additional 13,100 shares in the last quarter. Investec Asset Management LTD lifted its position in shares of AbbVie by 3.6% during the 1st quarter. Investec Asset Management LTD now owns 166,978 shares of the company’s stock valued at $10,880,000 after buying an additional 5,801 shares in the last quarter. Finally, Palisade Asset Management LLC lifted its position in shares of AbbVie by 17.9% during the 2nd quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock valued at $4,953,000 after buying an additional 10,381 shares in the last quarter. 67.65% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Michael Severino sold 25,633 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $94.69, for a total transaction of $2,427,188.77. Following the completion of the sale, the executive vice president now directly owns 114,922 shares of the company’s stock, valued at approximately $10,881,964.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert A. Michael sold 6,699 shares of the firm’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $88.00, for a total value of $589,512.00. Following the sale, 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. Insiders have sold a total of 58,932 shares of company stock valued at $5,379,432 over the last three months. Corporate insiders own 0.23% of the company’s stock.
Shares of AbbVie Inc. (NYSE ABBV) opened at $94.47 on Thursday. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08. The stock has a market capitalization of $151,149.98, a PE ratio of 17.83, a P/E/G ratio of 1.31 and a beta of 1.51. AbbVie Inc. has a 52-week low of $58.60 and a 52-week high of $98.26.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the company earned $1.21 EPS. analysts predict that AbbVie Inc. will post 5.55 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.01%. This is an increase from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio (DPR) is presently 62.29%.
A number of research analysts have weighed in on ABBV shares. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Evercore ISI restated an “outperform” rating and issued a $100.00 price objective (up previously from $95.00) on shares of AbbVie in a report on Saturday, September 30th. Societe Generale raised their price objective on AbbVie in a report on Tuesday. Barclays PLC restated a “hold” rating and issued a $68.00 price objective on shares of AbbVie in a report on Thursday, September 28th. Finally, Cowen and Company upgraded AbbVie from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $91.17 to $105.00 in a report on Wednesday, October 11th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. AbbVie presently has an average rating of “Buy” and an average target price of $94.68.
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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