Hamlin Capital Management LLC trimmed its stake in AbbVie Inc. (NYSE:ABBV) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,234,795 shares of the company’s stock after selling 10,071 shares during the period. AbbVie accounts for approximately 3.7% of Hamlin Capital Management LLC’s holdings, making the stock its 7th largest position. Hamlin Capital Management LLC owned about 0.08% of AbbVie worth $89,535,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of ABBV. Mn Services Vermogensbeheer B.V. increased its stake in shares of AbbVie by 2.8% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 43,346 shares of the company’s stock worth $2,641,000 after purchasing an additional 1,190 shares in the last quarter. Sippican Capital Advisors increased its stake in shares of AbbVie by 13.9% in the 1st quarter. Sippican Capital Advisors now owns 22,394 shares of the company’s stock worth $1,459,000 after purchasing an additional 2,730 shares in the last quarter. Guinness Asset Management Ltd increased its stake in shares of AbbVie by 9.9% in the 1st quarter. Guinness Asset Management Ltd now owns 151,020 shares of the company’s stock worth $9,840,000 after purchasing an additional 13,620 shares in the last quarter. Waldron LP increased its stake in shares of AbbVie by 31.0% in the 1st quarter. Waldron LP now owns 6,984 shares of the company’s stock worth $446,000 after purchasing an additional 1,653 shares in the last quarter. Finally, First Manhattan Co. increased its stake in shares of AbbVie by 0.5% in the 1st quarter. First Manhattan Co. now owns 200,582 shares of the company’s stock worth $12,650,000 after purchasing an additional 956 shares in the last quarter. Hedge funds and other institutional investors own 68.26% of the company’s stock.
ABBV has been the subject of a number of analyst reports. Cowen and Company upgraded AbbVie from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $91.17 to $105.00 in a research note on Wednesday. Piper Jaffray Companies reiterated a “buy” rating and issued a $100.00 price target on shares of AbbVie in a research note on Friday, September 15th. Jefferies Group LLC reiterated a “buy” rating and issued a $107.00 price target (up previously from $94.00) on shares of AbbVie in a research note on Friday, September 15th. Barclays PLC reiterated a “hold” rating and issued a $68.00 price target on shares of AbbVie in a research note on Thursday, September 28th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $66.00 price target on shares of AbbVie in a research note on Thursday, September 28th. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. AbbVie presently has an average rating of “Buy” and a consensus price target of $90.49.
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In other AbbVie news, Director Edward J. Rapp acquired 4,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was bought at an average price of $70.45 per share, with a total value of $281,800.00. Following the purchase, the director now owns 15,498 shares in the company, valued at $1,091,834.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Henry O. Gosebruch sold 18,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $70.09, for a total transaction of $1,261,620.00. Following the sale, the insider now directly owns 96,074 shares of the company’s stock, valued at approximately $6,733,826.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 379,890 shares of company stock valued at $27,187,817. 0.23% of the stock is owned by corporate insiders.
AbbVie Inc. (ABBV) opened at 91.42 on Friday. The company has a market cap of $145.73 billion, a P/E ratio of 22.48 and a beta of 1.51. AbbVie Inc. has a 12-month low of $55.06 and a 12-month high of $92.61. The firm’s 50 day moving average is $84.59 and its 200 day moving average is $72.69.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.02. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The company had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter in the prior year, the company earned $1.26 EPS. AbbVie’s revenue was up 7.6% compared to the same quarter last year. Equities research analysts anticipate that AbbVie Inc. will post $5.53 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be paid a dividend of $0.64 per share. The ex-dividend date is Thursday, October 12th. This represents a $2.56 annualized dividend and a yield of 2.80%. AbbVie’s dividend payout ratio is presently 62.90%.
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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