RFG Advisory Group LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 55.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,886 shares of the company’s stock after purchasing an additional 8,836 shares during the period. RFG Advisory Group LLC’s holdings in AbbVie were worth $1,797,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Point View Wealth Management Inc. raised its position in AbbVie by 2.4% during the 2nd quarter. Point View Wealth Management Inc. now owns 5,000 shares of the company’s stock valued at $363,000 after purchasing an additional 117 shares during the last quarter. ProVise Management Group LLC raised its position in AbbVie by 56.8% during the 2nd quarter. ProVise Management Group LLC now owns 46,127 shares of the company’s stock valued at $3,344,000 after purchasing an additional 16,712 shares during the last quarter. Victory Capital Management Inc. raised its position in AbbVie by 7.3% during the 2nd quarter. Victory Capital Management Inc. now owns 172,980 shares of the company’s stock valued at $12,543,000 after purchasing an additional 11,773 shares during the last quarter. MAI Capital Management raised its position in AbbVie by 0.3% during the 2nd quarter. MAI Capital Management now owns 37,865 shares of the company’s stock valued at $2,746,000 after purchasing an additional 114 shares during the last quarter. Finally, First National Trust Co. raised its position in AbbVie by 3.7% during the 2nd quarter. First National Trust Co. now owns 130,860 shares of the company’s stock valued at $9,488,000 after purchasing an additional 4,663 shares during the last quarter. 68.16% of the stock is owned by institutional investors and hedge funds.
Shares of AbbVie Inc. (NYSE ABBV) opened at $94.47 on Friday. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. The firm has a market capitalization of $149,681.28, a P/E ratio of 17.66, a P/E/G ratio of 1.30 and a beta of 1.51. AbbVie Inc. has a 52 week low of $58.60 and a 52 week high of $98.26.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. During the same period last year, the business posted $1.21 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. analysts forecast that AbbVie Inc. will post 5.55 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.01%. This is an increase from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio (DPR) is currently 62.29%.
In other AbbVie news, VP Robert A. Michael sold 6,699 shares of the 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 sale, the vice president now directly owns 10,007 shares in the company, valued at approximately $880,616. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $85.02, for a total value of $705,666.00. Following the sale, the senior vice president now owns 93,099 shares in the company, valued at $7,915,276.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,932 shares of company stock worth $5,379,432. Company insiders own 0.23% of the company’s stock.
A number of research analysts have commented on ABBV shares. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $100.00 price target (up previously from $85.00) on shares of AbbVie in a research report on Friday, September 8th. Jefferies Group LLC reissued a “buy” rating and issued a $94.00 target price on shares of AbbVie in a research report on Friday, September 8th. BidaskClub lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Vetr raised AbbVie from a “hold” rating to a “buy” rating and set a $76.28 target price for the company in a research report on Wednesday, July 26th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $85.00 target price on shares of AbbVie in a research report on Thursday, August 3rd. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $93.68.
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AbbVie Company Profile
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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