Xact Kapitalforvaltning AB grew its stake in AbbVie Inc. (NYSE:ABBV) by 5.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 293,342 shares of the company’s stock after purchasing an additional 14,788 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in AbbVie were worth $21,270,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Accident Compensation Corp raised its holdings in AbbVie by 24.7% in the 1st quarter. Accident Compensation Corp now owns 66,200 shares of the company’s stock worth $4,314,000 after purchasing an additional 13,100 shares in the last quarter. Investec Asset Management LTD raised its holdings in AbbVie by 3.6% in the 1st quarter. Investec Asset Management LTD now owns 166,978 shares of the company’s stock worth $10,880,000 after purchasing an additional 5,801 shares in the last quarter. Clean Yield Group raised its holdings in AbbVie by 25.0% in the 1st quarter. Clean Yield Group now owns 9,598 shares of the company’s stock worth $625,000 after purchasing an additional 1,920 shares in the last quarter. Comerica Securities Inc. raised its holdings in AbbVie by 832.7% in the 1st quarter. Comerica Securities Inc. now owns 66,443 shares of the company’s stock worth $4,329,000 after purchasing an additional 59,319 shares in the last quarter. Finally, Suntrust Banks Inc. raised its holdings in AbbVie by 3.7% in the 1st quarter. Suntrust Banks Inc. now owns 1,216,484 shares of the company’s stock worth $79,265,000 after purchasing an additional 43,617 shares in the last quarter. Institutional investors and hedge funds own 68.29% of the company’s stock.
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In other AbbVie news, insider Henry O. Gosebruch sold 18,000 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $70.09, for a total value of $1,261,620.00. Following the completion of the transaction, the insider now directly owns 96,074 shares in the company, valued at $6,733,826.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $85.02, for a total transaction of $705,666.00. Following the completion of the transaction, the senior vice president now owns 93,099 shares of the company’s stock, valued at $7,915,276.98. The disclosure for this sale can be found here. Insiders sold 373,191 shares of company stock valued at $26,598,305 over the last quarter. 0.23% of the stock is currently owned by corporate insiders.
Shares of AbbVie Inc. (ABBV) traded down 2.07% during mid-day trading on Friday, reaching $87.37. 20,441,496 shares of the company traded hands. AbbVie Inc. has a 52 week low of $55.06 and a 52 week high of $89.69. The firm has a 50 day moving average of $74.86 and a 200-day moving average of $69.44. The stock has a market capitalization of $139.28 billion, a PE ratio of 21.49 and a beta of 1.48.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 28th. The company reported $1.42 EPS for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.02. The business had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.93 billion. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 earnings per share. On average, equities research analysts expect that AbbVie Inc. will post $5.52 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be issued a $0.64 dividend. The ex-dividend date is Thursday, October 12th. This represents a $2.56 dividend on an annualized basis and a yield of 2.93%. AbbVie’s dividend payout ratio is presently 62.90%.
ABBV has been the subject of several research reports. Jefferies Group LLC restated a “buy” rating on shares of AbbVie in a report on Friday, May 26th. Credit Suisse Group restated a “hold” rating and issued a $65.00 price objective 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 report on Saturday, June 10th. Vetr lowered shares of AbbVie from a “buy” rating to a “hold” rating and set a $72.72 price objective for the company. in a report on Wednesday, June 14th. Finally, Societe Generale upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. AbbVie has an average rating of “Buy” and an average price target of $82.38.
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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