Amica Retiree Medical Trust held its position in AbbVie Inc. (NYSE:ABBV) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,640 shares of the company’s stock at the end of the first quarter. Amica Retiree Medical Trust’s holdings in AbbVie were worth $628,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in ABBV. Webster Bank N. A. increased its position in AbbVie by 410.6% in the first quarter. Webster Bank N. A. now owns 58,413 shares of the company’s stock worth $3,806,000 after buying an additional 46,972 shares during the period. Commerzbank Aktiengesellschaft FI increased its position in AbbVie by 9.5% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 70,246 shares of the company’s stock worth $4,577,000 after buying an additional 6,097 shares during the period. DT Investment Partners LLC increased its position in AbbVie by 8.8% in the first quarter. DT Investment Partners LLC now owns 22,811 shares of the company’s stock worth $1,486,000 after buying an additional 1,843 shares during the period. Wedge Capital Management L L P NC purchased a new position in AbbVie during the first quarter worth approximately $46,744,000. Finally, Welch Investments LLC increased its stake in shares of AbbVie by 7.0% in the first quarter. Welch Investments LLC now owns 63,098 shares of the company’s stock valued at $4,111,000 after buying an additional 4,151 shares during the last quarter. Hedge funds and other institutional investors own 67.69% of the company’s stock.
AbbVie Inc. (ABBV) traded up 0.16% during mid-day trading on Friday, hitting $69.96. The stock had a trading volume of 4,016,367 shares. The stock has a 50 day moving average of $71.72 and a 200-day moving average of $67.10. AbbVie Inc. has a 1-year low of $55.06 and a 1-year high of $75.04. The firm has a market cap of $111.52 billion, a P/E ratio of 17.21 and a beta of 1.50.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $6.94 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the prior year, the business earned $1.26 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Analysts predict that AbbVie Inc. will post $5.52 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th were paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Wednesday, July 12th. AbbVie’s dividend payout ratio (DPR) is currently 62.90%.
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Several equities research analysts recently commented on ABBV shares. Vetr upgraded AbbVie from a “buy” rating to a “strong-buy” rating and set a $74.38 target price on the stock in a report on Monday, May 8th. Credit Suisse Group restated a “neutral” rating and set a $74.00 price objective (up previously from $65.00) on shares of AbbVie in a research note on Thursday, July 20th. BMO Capital Markets set a $63.00 price objective on AbbVie and gave the company a “hold” rating in a research note on Thursday, April 27th. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Finally, Leerink Swann restated a “market perform” rating on shares of AbbVie in a research note on Thursday, June 22nd. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. AbbVie has a consensus rating of “Buy” and an average price target of $76.02.
In other AbbVie news, Chairman Richard A. Gonzalez sold 87,899 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $71.02, for a total transaction of $6,242,586.98. Following the completion of the transaction, the chairman now owns 342,353 shares in the company, valued at approximately $24,313,910.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Richard A. Gonzalez sold 193,131 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $71.00, for a total value of $13,712,301.00. Following the transaction, the chairman now owns 469,623 shares of the company’s stock, valued at approximately $33,343,233. The disclosure for this sale can be found here. In the last three months, insiders sold 490,491 shares of company stock worth $34,684,639. 0.23% of the stock is currently owned by company 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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