NEXT Financial Group Inc Has $1.70 Million Position in AbbVie Inc. (ABBV)
NEXT Financial Group Inc trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 1.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 23,375 shares of the company’s stock after selling 284 shares during the period. NEXT Financial Group Inc’s holdings in AbbVie were worth $1,695,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. State Street Corp grew its position in AbbVie by 2.4% in the first quarter. State Street Corp now owns 72,969,530 shares of the company’s stock worth $4,754,696,000 after acquiring an additional 1,696,042 shares during the period. Legal & General Group Plc grew its position in AbbVie by 4.1% in the first quarter. Legal & General Group Plc now owns 7,918,192 shares of the company’s stock worth $515,956,000 after acquiring an additional 312,055 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in AbbVie by 2.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 5,136,674 shares of the company’s stock worth $334,706,000 after purchasing an additional 130,740 shares in the last quarter. Aristotle Capital Management LLC lifted its stake in AbbVie by 3.5% during the first quarter. Aristotle Capital Management LLC now owns 4,526,623 shares of the company’s stock worth $294,954,000 after purchasing an additional 154,719 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in AbbVie by 6.5% during the first quarter. Canada Pension Plan Investment Board now owns 3,151,990 shares of the company’s stock worth $205,384,000 after purchasing an additional 193,410 shares in the last quarter. Institutional investors own 68.25% of the company’s stock.
A number of research analysts have commented on the company. Evercore ISI restated an “outperform” rating and set a $100.00 price target (up from $95.00) on shares of AbbVie in a research note on Saturday. Barclays PLC restated a “hold” rating and set a $68.00 price target on shares of AbbVie in a research note on Thursday. BMO Capital Markets restated a “hold” rating and set a $66.00 price target on shares of AbbVie in a research note on Thursday. Argus upped their price target on AbbVie from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Morgan Stanley upped their price target on AbbVie from $70.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday. Ten analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. AbbVie presently has a consensus rating of “Buy” and an average target price of $86.66.
In other news, Director Edward J. Rapp acquired 4,000 shares of the business’s stock in a transaction on Monday, July 31st. The shares were purchased at an average price of $70.45 per share, for a total transaction of $281,800.00. Following the acquisition, the director now directly owns 15,498 shares of the company’s stock, valued at approximately $1,091,834.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 in the company, valued at approximately $880,616. The disclosure for this sale can be found here. Insiders have sold a total of 379,890 shares of company stock worth $27,187,817 in the last 90 days. Company insiders own 0.23% of the company’s stock.
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Shares of AbbVie Inc. (ABBV) traded down 0.11% during mid-day trading on Friday, hitting $88.86. The stock had a trading volume of 6,769,367 shares. The company’s 50 day moving average price is $75.76 and its 200 day moving average price is $69.87. The stock has a market cap of $141.65 billion, a P/E ratio of 21.85 and a beta of 1.48. AbbVie Inc. has a 12-month low of $55.06 and a 12-month high of $89.69.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.02. The business had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.93 billion. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.26 EPS. Equities research analysts predict that AbbVie Inc. will post $5.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be issued a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $2.56 annualized dividend and a dividend yield of 2.88%. AbbVie’s payout ratio is 62.90%.
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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