Trust Co. of Oklahoma Has $487,000 Position in AbbVie Inc. (ABBV)
Trust Co. of Oklahoma held its position in shares of AbbVie Inc. (NYSE:ABBV) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,720 shares of the company’s stock at the end of the 2nd quarter. Trust Co. of Oklahoma’s holdings in AbbVie were worth $487,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. St. Louis Trust Co increased its stake in AbbVie by 0.7% during the first quarter. St. Louis Trust Co now owns 3,388 shares of the company’s stock valued at $221,000 after purchasing an additional 25 shares during the last quarter. Stratford Consulting LLC increased its stake in AbbVie by 0.7% during the first quarter. Stratford Consulting LLC now owns 3,959 shares of the company’s stock valued at $258,000 after purchasing an additional 29 shares during the last quarter. K.J. Harrison & Partners Inc increased its stake in AbbVie by 0.6% during the first quarter. K.J. Harrison & Partners Inc now owns 5,031 shares of the company’s stock valued at $328,000 after purchasing an additional 31 shares during the last quarter. Weatherly Asset Management L. P. increased its stake in AbbVie by 0.3% during the first quarter. Weatherly Asset Management L. P. now owns 11,537 shares of the company’s stock valued at $752,000 after purchasing an additional 31 shares during the last quarter. Finally, Wagner Bowman Management Corp increased its stake in AbbVie by 0.3% during the first quarter. Wagner Bowman Management Corp now owns 16,341 shares of the company’s stock valued at $1,064,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 68.26% of the company’s stock.
Several brokerages have recently issued reports on ABBV. Piper Jaffray Companies reissued a “buy” rating and set a $100.00 price target on shares of AbbVie in a report on Friday, September 15th. Jefferies Group LLC reissued a “buy” rating and set a $107.00 price target (up previously from $94.00) on shares of AbbVie in a report on Friday, September 15th. Barclays PLC reissued a “hold” rating and set a $68.00 price target on shares of AbbVie in a report on Thursday, September 28th. BMO Capital Markets reissued a “hold” rating and set a $66.00 price target on shares of AbbVie in a report on Thursday, September 28th. Finally, Deutsche Bank AG boosted their price target on shares of AbbVie to $88.00 and gave the company a “hold” rating in a report on Thursday, September 28th. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $89.90.
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In other AbbVie news, Director Edward J. Rapp bought 4,000 shares of the stock in a transaction dated Monday, July 31st. The stock was bought at an average cost of $70.45 per share, for a total transaction of $281,800.00. Following the completion of the purchase, the director now owns 15,498 shares in the company, valued at approximately $1,091,834.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard A. Gonzalez sold 193,131 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $71.00, for a total value of $13,712,301.00. Following the completion of the sale, the chairman now owns 469,623 shares of the company’s stock, valued at $33,343,233. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 379,890 shares of company stock valued at $27,187,817. 0.23% of the stock is currently owned by corporate insiders.
AbbVie Inc. (NYSE:ABBV) traded down 0.07% during midday trading on Friday, reaching $90.12. 1,941,908 shares of the company traded hands. The company has a market cap of $143.66 billion, a price-to-earnings ratio of 22.16 and a beta of 1.51. AbbVie Inc. has a 12-month low of $55.06 and a 12-month high of $91.33. The company has a 50-day moving average price of $81.66 and a 200-day moving average price of $71.77.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $6.94 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period last year, the company posted $1.26 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, analysts predict that AbbVie Inc. will post $5.52 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be paid a $0.64 dividend. The ex-dividend date is Thursday, October 12th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.84%. AbbVie’s dividend payout ratio (DPR) is presently 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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