Securian Asset Management Inc increased its position in shares of AbbVie Inc (NYSE:ABBV) by 1.0% during the second quarter, HoldingsChannel.com reports. The fund owned 154,161 shares of the company’s stock after acquiring an additional 1,546 shares during the period. Securian Asset Management Inc’s holdings in AbbVie were worth $11,211,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Lavaca Capital LLC increased its holdings in shares of AbbVie by 69.2% in the 2nd quarter. Lavaca Capital LLC now owns 49,404 shares of the company’s stock worth $3,593,000 after buying an additional 20,213 shares during the last quarter. Horseman Capital Management Ltd increased its holdings in shares of AbbVie by 45.5% in the 2nd quarter. Horseman Capital Management Ltd now owns 16,000 shares of the company’s stock worth $1,164,000 after buying an additional 5,000 shares during the last quarter. Ironwood Investment Counsel LLC increased its holdings in shares of AbbVie by 7.9% in the 2nd quarter. Ironwood Investment Counsel LLC now owns 9,171 shares of the company’s stock worth $666,000 after buying an additional 675 shares during the last quarter. Cedar Wealth Management LLC bought a new position in shares of AbbVie in the 2nd quarter worth $44,000. Finally, Ballentine Partners LLC increased its holdings in shares of AbbVie by 52.1% in the 2nd quarter. Ballentine Partners LLC now owns 12,168 shares of the company’s stock worth $886,000 after buying an additional 4,169 shares during the last quarter. 70.03% of the stock is currently owned by institutional investors and hedge funds.
In other AbbVie news, EVP William J. Chase acquired 30,400 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was bought at an average price of $67.30 per share, with a total value of $2,045,920.00. Following the purchase, the executive vice president now owns 169,552 shares of the company’s stock, valued at $11,410,849.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roxanne S. Austin acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was acquired at an average cost of $66.35 per share, with a total value of $663,500.00. Following the purchase, the director now directly owns 62,114 shares in the company, valued at approximately $4,121,263.90. The disclosure for this purchase can be found here. Insiders bought a total of 136,900 shares of company stock valued at $9,126,370 in the last ninety days. 0.08% of the stock is owned by corporate insiders.
A number of equities analysts have recently commented on the stock. ValuEngine lowered shares of AbbVie from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 26th. Goldman Sachs Group assumed coverage on shares of AbbVie in a report on Tuesday, May 28th. They issued a “neutral” rating and a $84.00 price target on the stock. Leerink Swann raised shares of AbbVie to a “buy” rating in a report on Tuesday, July 2nd. Wolfe Research raised shares of AbbVie from an “underperform” rating to a “peer perform” rating in a report on Thursday, June 27th. Finally, BMO Capital Markets raised shares of AbbVie from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $71.00 to $79.00 in a report on Sunday, April 28th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. AbbVie currently has a consensus rating of “Hold” and a consensus target price of $92.05.
Shares of AbbVie stock traded up $0.41 during trading on Tuesday, reaching $66.98. The company’s stock had a trading volume of 6,248,333 shares, compared to its average volume of 9,908,758. AbbVie Inc has a 52-week low of $62.66 and a 52-week high of $100.23. The company has a market cap of $95.26 billion, a price-to-earnings ratio of 8.47, a PEG ratio of 1.53 and a beta of 0.96. The firm’s 50-day moving average is $68.07 and its two-hundred day moving average is $76.35.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.21 by $0.05. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The company had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.09 billion. During the same quarter in the prior year, the company earned $2.00 EPS. The firm’s revenue was down .3% on a year-over-year basis. As a group, analysts predict that AbbVie Inc will post 8.88 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were paid a $1.07 dividend. The ex-dividend date of this dividend was Friday, July 12th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 6.39%. AbbVie’s dividend payout ratio (DPR) is 54.11%.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
Further Reading: Are all No-Load Funds Equal?
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc (NYSE:ABBV).
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.