Peoples Financial Services CORP. maintained its position in shares of AbbVie Inc. (NYSE:ABBV) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,380 shares of the company’s stock at the end of the second quarter. AbbVie accounts for about 1.0% of Peoples Financial Services CORP.’s investment portfolio, making the stock its 27th largest position. Peoples Financial Services CORP.’s holdings in AbbVie were worth $1,768,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. First Command Financial Services Inc. raised its stake in AbbVie by 6.8% in the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock valued at $102,000 after buying an additional 99 shares during the last quarter. Acropolis Investment Management LLC purchased a new position in shares of AbbVie during the second quarter valued at $106,000. Franklin Parlapiano Turner & Welch LLC purchased a new position in shares of AbbVie during the first quarter valued at $108,000. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of AbbVie during the fourth quarter valued at $137,000. Finally, Atwood & Palmer Inc. increased its position in shares of AbbVie by 1,333.3% in the first quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock valued at $140,000 after buying an additional 2,000 shares during the period. 67.89% of the stock is owned by hedge funds and other institutional investors.
Shares of AbbVie Inc. (ABBV) traded up 0.27% during trading on Friday, hitting $70.63. 3,248,300 shares of the stock traded hands. The company has a market cap of $112.59 billion, a PE ratio of 17.37 and a beta of 1.50. AbbVie Inc. has a 1-year low of $55.06 and a 1-year high of $75.04. The company has a 50 day moving average of $72.05 and a 200-day moving average of $66.76.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.02. The company had revenue of $6.94 billion for the quarter, compared to analysts’ expectations of $6.93 billion. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. AbbVie’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.26 earnings per share. On average, equities analysts anticipate that AbbVie Inc. will post $5.52 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be given a dividend of $0.64 per share. The ex-dividend date is Wednesday, July 12th. This represents a $2.56 annualized dividend and a dividend yield of 3.62%. AbbVie’s payout ratio is 62.90%.
Several research analysts have recently weighed in on the stock. Piper Jaffray Companies restated a “buy” rating and issued a $85.00 target price on shares of AbbVie in a research note on Thursday, August 3rd. BidaskClub downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Vetr upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 price objective on the stock in a research note on Wednesday, July 26th. Cowen and Company set a $70.00 price objective on shares of AbbVie and gave the company a “hold” rating in a research note on Sunday, July 30th. Finally, Leerink Swann set a $71.00 price target on shares of AbbVie and gave the stock a “hold” rating in a research report on Thursday, April 20th. Nine equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $74.66.
In other AbbVie news, EVP Carlos Alban sold 45,800 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $70.00, for a total value of $3,206,000.00. Following the transaction, the executive vice president now owns 160,545 shares of the company’s stock, valued at $11,238,150. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO William J. Chase sold 38,300 shares of the business’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $65.35, for a total value of $2,502,905.00. Following the completion of the transaction, the chief financial officer now directly owns 209,043 shares in the company, valued at approximately $13,660,960.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 600,026 shares of company stock worth $41,852,724. 0.23% of the stock is owned by insiders.
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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