Zacks Investment Management boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 1.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 574,748 shares of the company’s stock after purchasing an additional 9,771 shares during the quarter. AbbVie comprises approximately 1.0% of Zacks Investment Management’s portfolio, making the stock its 28th biggest position. Zacks Investment Management’s holdings in AbbVie were worth $41,675,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in ABBV. Acropolis Investment Management LLC acquired a new stake in shares of AbbVie in the second quarter valued at approximately $106,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of AbbVie in the first quarter valued at approximately $108,000. Hudock Capital Group LLC boosted its holdings in shares of AbbVie by 109.5% in the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after acquiring an additional 806 shares during the period. Ffcm LLC boosted its holdings in shares of AbbVie by 167.2% in the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after acquiring an additional 963 shares during the period. Finally, BDO Wealth Advisors LLC acquired a new stake in shares of AbbVie in the second quarter valued at approximately $115,000. 69.32% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the company. Leerink Swann set a $106.00 price objective on AbbVie and gave the company a “buy” rating in a report on Tuesday. BMO Capital Markets set a $84.00 price objective on AbbVie and gave the company a “hold” rating in a report on Monday, December 4th. ValuEngine downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Societe Generale increased their price objective on AbbVie in a report on Tuesday, November 21st. Finally, BidaskClub raised AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 11th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $97.96.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The business had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. research analysts forecast that AbbVie Inc. will post 5.55 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Thursday, January 11th. This is a boost from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio is 62.29%.
In other AbbVie news, VP Robert A. Michael sold 6,699 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the transaction, the vice president now owns 10,007 shares in the company, valued at $880,616. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $85.02, for a total value of $705,666.00. Following the completion of the transaction, the senior vice president now owns 93,099 shares of the company’s stock, valued at approximately $7,915,276.98. The disclosure for this sale can be found here. Insiders have sold 277,125 shares of company stock valued at $25,891,756 in the last 90 days. Company insiders own 0.23% of the company’s stock.
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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