Carnegie Capital Asset Management LLC increased its position in AbbVie Inc (NYSE:ABBV) by 6.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148,153 shares of the company’s stock after purchasing an additional 9,211 shares during the period. AbbVie accounts for 1.3% of Carnegie Capital Asset Management LLC’s portfolio, making the stock its 18th biggest position. Carnegie Capital Asset Management LLC’s holdings in AbbVie were worth $10,469,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Savant Capital LLC boosted its position in shares of AbbVie by 1.3% during the second quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock valued at $4,433,000 after buying an additional 793 shares during the last quarter. Princeton Capital Management Inc. purchased a new stake in shares of AbbVie during the second quarter valued at $1,394,000. Accident Compensation Corp boosted its position in shares of AbbVie by 24.7% during the first quarter. Accident Compensation Corp now owns 66,200 shares of the company’s stock valued at $4,314,000 after buying an additional 13,100 shares during the last quarter. Investec Asset Management LTD boosted its position in shares of AbbVie by 3.6% during the first quarter. Investec Asset Management LTD now owns 166,978 shares of the company’s stock valued at $10,880,000 after buying an additional 5,801 shares during the last quarter. Finally, Palisade Asset Management LLC boosted its position in shares of AbbVie by 17.9% during the second quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock valued at $4,953,000 after buying an additional 10,381 shares during the last quarter. 69.18% of the stock is currently owned by institutional investors.
In related news, SVP Timothy J. Richmond sold 87,040 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the completion of the sale, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Henry O. Gosebruch sold 18,300 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $90.55, for a total value of $1,657,065.00. Following the sale, the insider now directly owns 81,287 shares of the company’s stock, valued at $7,360,537.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 494,676 shares of company stock valued at $47,237,938. Company insiders own 0.23% of the company’s stock.
AbbVie Inc (NYSE:ABBV) traded up $1.70 during midday trading on Tuesday, reaching $98.41. The company’s stock had a trading volume of 4,559,700 shares, compared to its average volume of 4,230,000. The stock has a market cap of $156,870.00, a PE ratio of 23.89, a PEG ratio of 1.34 and a beta of 1.53. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. AbbVie Inc has a fifty-two week low of $59.27 and a fifty-two week high of $99.10.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.02. The business had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 EPS. equities analysts predict that AbbVie Inc will post 5.55 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a $0.71 dividend. This is a boost from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.89%. AbbVie’s payout ratio is 62.14%.
A number of research firms have weighed in on ABBV. BidaskClub raised AbbVie from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Jefferies Group reissued a “buy” rating and issued a $94.00 target price on shares of AbbVie in a report on Friday, September 8th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $100.00 price objective (up previously from $85.00) on shares of AbbVie in a research note on Friday, September 8th. Cowen reaffirmed a “hold” rating and issued a $95.00 price objective (up previously from $70.00) on shares of AbbVie in a research note on Monday, September 11th. Finally, Leerink Swann reaffirmed a “market perform” rating on shares of AbbVie in a research note on Tuesday, September 12th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $100.63.
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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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