KLCM Advisors Inc. Buys 9,706 Shares of AbbVie Inc (ABBV)
KLCM Advisors Inc. boosted its stake in AbbVie Inc (NYSE:ABBV) by 252.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,550 shares of the company’s stock after buying an additional 9,706 shares during the quarter. KLCM Advisors Inc.’s holdings in AbbVie were worth $983,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Acropolis Investment Management LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth $106,000. Ffcm LLC increased its holdings in shares of AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after buying an additional 963 shares during the last quarter. Hudock Capital Group LLC increased its holdings in shares of AbbVie by 109.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after buying an additional 806 shares during the last quarter. BDO Wealth Advisors LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth $115,000. Finally, Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of AbbVie during the 1st quarter worth $108,000. 69.32% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on ABBV shares. Jefferies Group increased their price target on AbbVie from $107.00 to $115.00 and gave the company a “buy” rating in a report on Monday, October 16th. BMO Capital Markets set a $66.00 price target on AbbVie and gave the company a “hold” rating in a report on Friday, October 27th. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Piper Jaffray Companies increased their price target on AbbVie to $115.00 and gave the company an “overweight” rating in a report on Friday, October 27th. Finally, SunTrust Banks reiterated a “buy” rating on shares of AbbVie in a report on Monday, October 30th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $97.96.
In related news, VP Robert A. Michael sold 6,699 shares of the firm’s stock in a transaction that occurred 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 owns 10,007 shares of the company’s stock, valued at approximately $880,616. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Henry O. Gosebruch sold 18,300 shares of AbbVie stock in a transaction on Monday, October 30th. The shares were sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the sale, the insider now directly owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The disclosure for this sale can be found here. Insiders have sold 268,825 shares of company stock valued at $25,186,090 over the last 90 days. 0.23% of the stock is currently owned by insiders.
AbbVie Inc (NYSE ABBV) opened at $96.47 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. AbbVie Inc has a twelve month low of $59.27 and a twelve month high of $98.52. The stock has a market cap of $153,177.45, a PE ratio of 18.07, a price-to-earnings-growth ratio of 1.33 and a beta of 1.52.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter last year, the company posted $1.21 earnings per share. AbbVie’s revenue was up 8.8% on a year-over-year basis. equities analysts expect that AbbVie Inc will post 5.55 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.94%. 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 (DPR) is currently 62.29%.
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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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