Jaffetilchin Investment Partners LLC Buys 810 Shares of AbbVie Inc. (ABBV)
Jaffetilchin Investment Partners LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 7.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,535 shares of the company’s stock after buying an additional 810 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in AbbVie were worth $836,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Acropolis Investment Management LLC bought a new position in AbbVie during the 2nd quarter worth $106,000. Franklin Parlapiano Turner & Welch LLC bought a new position in AbbVie during the 1st quarter worth $108,000. Atwood & Palmer Inc. grew 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 buying an additional 2,000 shares during the last quarter. Tradewinds Capital Management LLC grew 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 buying an additional 1,057 shares during the last quarter. Finally, Exane Asset Management acquired a new position in AbbVie during the 2nd quarter worth $181,000. Hedge funds and other institutional investors own 68.52% of the company’s stock.
ABBV has been the subject of a number of analyst reports. Zacks Investment Research upgraded AbbVie from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Jefferies Group LLC reiterated a “buy” rating and set a $94.00 price target (up previously from $92.00) on shares of AbbVie in a research report on Monday, July 17th. Deutsche Bank AG reiterated a “hold” rating and set a $66.00 price target (up previously from $65.00) on shares of AbbVie in a research report on Monday, July 17th. Credit Suisse Group reiterated a “neutral” rating and set a $74.00 price target (up previously from $65.00) on shares of AbbVie in a research report on Thursday, July 20th. Finally, Vetr lowered AbbVie from a “buy” rating to a “hold” rating and set a $76.28 price target for the company. in a research report on Thursday, July 20th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $93.68.
In other 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 sale, the senior vice president now directly owns 93,099 shares of the company’s stock, valued at $7,915,276.98. The sale was disclosed in a legal 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 business’s stock in a transaction on 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 in the company, valued at $880,616. The disclosure for this sale can be found here. Insiders have sold 33,299 shares of company stock worth $2,952,243 over the last ninety days. 0.23% of the stock is owned by insiders.
Shares of AbbVie Inc. (NYSE:ABBV) opened at $92.96 on Tuesday. The stock has a market capitalization of $147,150.91, a price-to-earnings ratio of 17.38, a PEG ratio of 1.28 and a beta of 1.51. The company has a current ratio of 1.38, a quick ratio of 1.25 and a debt-to-equity ratio of 5.63. AbbVie Inc. has a 52-week low of $55.87 and a 52-week high of $98.26.
AbbVie (NYSE:ABBV) last announced its earnings results 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 company had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. AbbVie had a return on equity of 164.66% and a net margin of 24.38%. AbbVie’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.21 earnings per share. research analysts anticipate that AbbVie Inc. will post 5.55 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be given a dividend of $0.71 per share. The ex-dividend date is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.06%. 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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