Stolper Co lessened its position in shares of AbbVie Inc (NYSE:ABBV) by 7.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,610 shares of the company’s stock after selling 1,549 shares during the period. AbbVie comprises 1.3% of Stolper Co’s holdings, making the stock its 27th largest position. Stolper Co’s holdings in AbbVie were worth $2,023,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Orser Capital Management LLC grew its holdings in shares of AbbVie by 3,735.5% during the fourth quarter. Orser Capital Management LLC now owns 7,671 shares of the company’s stock valued at $679,000 after buying an additional 7,471 shares in the last quarter. Quadrant Capital Group LLC grew its position in AbbVie by 18.0% in the 4th quarter. Quadrant Capital Group LLC now owns 18,015 shares of the company’s stock worth $1,554,000 after purchasing an additional 2,749 shares in the last quarter. NumerixS Investment Technologies Inc bought a new stake in AbbVie in the 4th quarter worth about $245,000. Capital Analysts LLC grew its position in AbbVie by 5.9% in the 4th quarter. Capital Analysts LLC now owns 4,096 shares of the company’s stock worth $363,000 after purchasing an additional 227 shares in the last quarter. Finally, AlphaCrest Capital Management LLC grew its position in AbbVie by 260.7% in the 4th quarter. AlphaCrest Capital Management LLC now owns 17,673 shares of the company’s stock worth $1,565,000 after purchasing an additional 12,773 shares in the last quarter. Hedge funds and other institutional investors own 72.44% of the company’s stock.
In other AbbVie news, EVP Timothy J. Richmond sold 19,445 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $85.00, for a total value of $1,652,825.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Carlos Alban sold 53,325 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $100.00, for a total transaction of $5,332,500.00. Following the completion of the sale, the insider now owns 137,899 shares in the company, valued at $13,789,900. The disclosure for this sale can be found here. Insiders sold a total of 95,794 shares of company stock worth $9,057,485 over the last quarter. Corporate insiders own 0.09% of the company’s stock.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, May 1st. The company reported $2.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.25 by $0.17. The company had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.31 billion. AbbVie had a net margin of 24.77% and a negative return on equity of 169.80%. AbbVie’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the firm earned $2.14 EPS. Research analysts anticipate that AbbVie Inc will post 10.54 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be issued a $1.18 dividend. This represents a $4.72 annualized dividend and a yield of 4.84%. The ex-dividend date of this dividend is Tuesday, July 14th. AbbVie’s dividend payout ratio (DPR) is presently 52.80%.
A number of equities research analysts have issued reports on the stock. Bank of America assumed coverage on shares of AbbVie in a research report on Monday, May 18th. They issued a “neutral” rating and a $95.00 price objective for the company. Piper Sandler increased their target price on shares of AbbVie from $97.00 to $110.00 in a research report on Wednesday, June 10th. UBS Group increased their target price on shares of AbbVie from $96.00 to $109.00 in a research report on Wednesday, June 17th. Mizuho increased their target price on shares of AbbVie from $101.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Finally, Atlantic Securities raised shares of AbbVie from a “neutral” rating to an “overweight” rating and set a $115.00 target price for the company in a research report on Tuesday, June 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $106.80.
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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