Doliver Capital Advisors LP Invests $775,000 in AbbVie Inc. (ABBV) Stock
Doliver Capital Advisors LP bought a new position in AbbVie Inc. (NYSE:ABBV) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,687 shares of the company’s stock, valued at approximately $775,000.
Other institutional investors have also recently made changes to their positions in the company. Formidable Asset Management LLC grew its stake in shares of AbbVie by 0.3% during the second quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock worth $285,000 after acquiring an additional 10 shares during the last quarter. WealthTrust Axiom LLC grew its stake in shares of AbbVie by 0.3% during the second quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock worth $312,000 after acquiring an additional 15 shares during the last quarter. Abner Herrman & Brock LLC grew its stake in shares of AbbVie by 0.3% during the second quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock worth $456,000 after acquiring an additional 18 shares during the last quarter. Bollard Group LLC grew its stake in shares of AbbVie by 0.5% during the second quarter. Bollard Group LLC now owns 3,764 shares of the company’s stock worth $273,000 after acquiring an additional 19 shares during the last quarter. Finally, St. Louis Trust Co grew its stake in shares of AbbVie by 0.7% during the second quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock worth $248,000 after acquiring an additional 23 shares during the last quarter. Institutional investors and hedge funds own 69.32% of the company’s stock.
Shares of AbbVie Inc. (NYSE ABBV) opened at $95.95 on Friday. 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 52-week low of $59.27 and a 52-week high of $98.52. The company has a market capitalization of $153,177.45, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 1.33 and a beta of 1.52.
AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 business had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. During the same quarter in the prior year, the firm posted $1.21 EPS. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. sell-side analysts forecast that AbbVie Inc. will post 5.55 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.96%. The ex-dividend date is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio is currently 62.29%.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. ValuEngine lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. BMO Capital Markets set a $84.00 target price on AbbVie and gave the company a “hold” rating in a research report on Monday, December 4th. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 11th. Finally, Leerink Swann set a $106.00 target price on AbbVie and gave the company a “buy” rating in a research report on Tuesday, December 5th. Seven equities 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. The stock has an average rating of “Buy” and an average target price of $97.96.
In other news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the transaction, the chairman now directly owns 492,030 shares of the company’s stock, valued at $46,255,740.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 277,125 shares of company stock worth $25,891,756. Insiders own 0.23% of the company’s stock.
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AbbVie Company Profile
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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