Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of AbbVie Inc (NYSE:ABBV) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,223,323 shares of the company’s stock after selling 16,503 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.08% of AbbVie worth $85,633,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in ABBV. Van Leeuwen & Company LLC lifted its holdings in AbbVie by 4.1% in the fourth quarter. Van Leeuwen & Company LLC now owns 3,296 shares of the company’s stock worth $304,000 after purchasing an additional 130 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its holdings in AbbVie by 0.3% in the second quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 44,147 shares of the company’s stock worth $3,210,000 after purchasing an additional 147 shares during the period. Weatherly Asset Management L. P. lifted its holdings in AbbVie by 1.8% in the second quarter. Weatherly Asset Management L. P. now owns 8,317 shares of the company’s stock worth $605,000 after purchasing an additional 151 shares during the period. BTIM Corp. lifted its holdings in AbbVie by 0.6% in the second quarter. BTIM Corp. now owns 27,263 shares of the company’s stock worth $1,983,000 after purchasing an additional 154 shares during the period. Finally, Verus Financial Partners Inc. lifted its holdings in AbbVie by 5.9% in the second quarter. Verus Financial Partners Inc. now owns 2,786 shares of the company’s stock worth $203,000 after purchasing an additional 154 shares during the period. Hedge funds and other institutional investors own 70.03% of the company’s stock.
ABBV has been the subject of several research analyst reports. Svb Leerink raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a report on Wednesday, June 26th. 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. Piper Jaffray Companies raised shares of AbbVie from a “neutral” rating to an “overweight” rating and set a $80.00 price target for the company in a report on Tuesday, August 20th. Finally, ValuEngine downgraded shares of AbbVie from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 26th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $92.05.
In other news, Director Roxanne S. Austin acquired 11,500 shares of AbbVie stock in a transaction on Wednesday, June 26th. The stock was bought at an average cost of $67.50 per share, with a total value of $776,250.00. Following the completion of the purchase, the director now owns 52,114 shares of the company’s stock, valued at $3,517,695. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Roxanne S. Austin acquired 55,000 shares of AbbVie stock in a transaction on Thursday, August 1st. The shares were purchased at an average cost of $65.86 per share, with a total value of $3,622,300.00. Following the completion of the purchase, the director now directly owns 92,114 shares of the company’s stock, valued at approximately $6,066,628.04. The disclosure for this purchase can be found here. Insiders have acquired 152,452 shares of company stock valued at $10,128,541 over the last ninety days. Insiders own 0.08% of the company’s stock.
NYSE ABBV traded down $1.55 on Friday, reaching $65.97. The company’s stock had a trading volume of 7,180,763 shares, compared to its average volume of 9,558,582. AbbVie Inc has a twelve month low of $62.66 and a twelve month high of $98.70. The stock has a market cap of $99.83 billion, a PE ratio of 8.34, a PEG ratio of 1.61 and a beta of 0.96. The firm’s 50 day moving average is $67.51 and its two-hundred day moving average is $76.08.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 26th. The company reported $2.26 earnings per share 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 the consensus estimate of $8.09 billion. During the same period in the prior year, the company earned $2.00 EPS. AbbVie’s revenue was down .3% on a year-over-year basis. As a group, sell-side analysts anticipate that AbbVie Inc will post 8.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 6.49%. The ex-dividend date of this dividend was Friday, July 12th. AbbVie’s dividend payout ratio is presently 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.
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