Professional Advisory Services Inc. Acquires Shares of 3,000 AbbVie Inc. (ABBV)
Professional Advisory Services Inc. acquired a new stake in AbbVie Inc. (NYSE:ABBV) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,000 shares of the company’s stock, valued at approximately $218,000.
Several other large investors also recently added to or reduced their stakes in ABBV. Forte Capital LLC ADV raised its position in shares of AbbVie by 13.6% in the second quarter. Forte Capital LLC ADV now owns 15,511 shares of the company’s stock valued at $1,125,000 after purchasing an additional 1,860 shares during the period. National Pension Service lifted its stake in shares of AbbVie by 12.0% during the 2nd quarter. National Pension Service now owns 1,218,446 shares of the company’s stock worth $88,313,000 after buying an additional 130,262 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of AbbVie during the 2nd quarter worth about $1,163,000. Fisher Asset Management LLC lifted its stake in shares of AbbVie by 0.5% during the 2nd quarter. Fisher Asset Management LLC now owns 686,519 shares of the company’s stock worth $49,780,000 after buying an additional 3,604 shares during the last quarter. Finally, Peak Capital Management LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth about $1,129,000. Hedge funds and other institutional investors own 68.26% of the company’s stock.
AbbVie Inc. (NYSE ABBV) traded down 0.07% during trading on Wednesday, reaching $89.64. 1,579,749 shares of the company’s stock traded hands. The company’s 50 day moving average is $80.54 and its 200-day moving average is $71.50. The stock has a market cap of $142.89 billion, a price-to-earnings ratio of 22.05 and a beta of 1.51. AbbVie Inc. has a 52-week low of $55.06 and a 52-week high of $90.95. AbbVie also was the target of some unusual options trading on Monday. Traders acquired 278 put options on the company. This is an increase of approximately 121% compared to the average daily volume of 126 put options.
AbbVie (NYSE:ABBV) last announced its quarterly 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. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The firm had revenue of $6.94 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the prior year, the business posted $1.26 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. On average, analysts anticipate that AbbVie Inc. will post $5.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be given a $0.64 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.85%. AbbVie’s dividend payout ratio (DPR) is currently 62.90%.
In related news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $85.02, for a total transaction of $705,666.00. Following the sale, the senior vice president now owns 93,099 shares of the company’s stock, valued at approximately $7,915,276.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert A. Michael sold 6,699 shares of the stock in a transaction that occurred 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 sale, the vice president now owns 10,007 shares in the company, valued at $880,616. The disclosure for this sale can be found here. Insiders sold 379,890 shares of company stock valued at $27,187,817 over the last 90 days. 0.23% of the stock is owned by company insiders.
Several analysts recently commented on the stock. Credit Suisse Group reaffirmed a “hold” rating and set a $65.00 target price on shares of AbbVie in a report on Wednesday, June 7th. BidaskClub upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Vetr cut shares of AbbVie from a “buy” rating to a “hold” rating and set a $72.72 price target on the stock. in a report on Wednesday, June 14th. Societe Generale raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Finally, Leerink Swann restated a “market perform” rating on shares of AbbVie in a research report on Thursday, June 22nd. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. AbbVie currently has a consensus rating of “Buy” and a consensus price target of $89.90.
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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