Advisor OS LLC Invests $683,000 in AbbVie Inc (NYSE:ABBV)

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Advisor OS LLC bought a new position in AbbVie Inc (NYSE:ABBV) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 6,956 shares of the company’s stock, valued at approximately $683,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of AbbVie by 17.3% in the 2nd quarter. Vanguard Group Inc. now owns 147,386,808 shares of the company’s stock worth $14,470,438,000 after acquiring an additional 21,786,239 shares in the last quarter. BlackRock Inc. grew its position in AbbVie by 21.7% during the second quarter. BlackRock Inc. now owns 123,356,424 shares of the company’s stock valued at $12,111,133,000 after buying an additional 21,974,440 shares during the period. Geode Capital Management LLC grew its position in AbbVie by 5.5% during the first quarter. Geode Capital Management LLC now owns 25,773,505 shares of the company’s stock valued at $1,960,934,000 after buying an additional 1,344,728 shares during the period. Nuveen Asset Management LLC grew its position in AbbVie by 46.4% during the second quarter. Nuveen Asset Management LLC now owns 22,124,489 shares of the company’s stock valued at $2,172,182,000 after buying an additional 7,007,887 shares during the period. Finally, Bank of New York Mellon Corp grew its position in AbbVie by 15.0% during the second quarter. Bank of New York Mellon Corp now owns 21,387,563 shares of the company’s stock valued at $2,099,832,000 after buying an additional 2,797,448 shares during the period. Hedge funds and other institutional investors own 68.23% of the company’s stock.

ABBV has been the subject of several research reports. Wolfe Research upgraded shares of AbbVie from a “peer perform” rating to an “outperform” rating in a research report on Tuesday, June 9th. Citigroup increased their price target on shares of AbbVie from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Evercore ISI initiated coverage on shares of AbbVie in a research report on Wednesday, June 10th. They set a “buy” rating and a $111.00 price target for the company. Bank of America initiated coverage on shares of AbbVie in a research report on Monday, May 18th. They set a “neutral” rating and a $95.00 price target for the company. Finally, Mizuho increased their price target on shares of AbbVie from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the stock. AbbVie has an average rating of “Buy” and a consensus target price of $108.33.

In other news, Vice Chairman Carlos Alban sold 53,325 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $100.00, for a total value of $5,332,500.00. Following the transaction, the insider now owns 137,899 shares in the company, valued at $13,789,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by company insiders.

Shares of AbbVie stock traded up $0.42 on Tuesday, reaching $90.91. The stock had a trading volume of 266,463 shares, compared to its average volume of 10,106,435. AbbVie Inc has a 1 year low of $62.55 and a 1 year high of $101.28. The company has a market cap of $159.70 billion, a P/E ratio of 19.43, a price-to-earnings-growth ratio of 1.44 and a beta of 0.75. The company has a current ratio of 0.86, a quick ratio of 0.70 and a debt-to-equity ratio of 5.57. The business’s 50 day moving average is $93.82 and its two-hundred day moving average is $89.39.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 31st. The company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.14. AbbVie had a net margin of 19.20% and a negative return on equity of 628.57%. The business had revenue of $10.43 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same period last year, the firm posted $2.26 earnings per share. AbbVie’s quarterly revenue was up 26.3% on a year-over-year basis. On average, equities analysts anticipate that AbbVie Inc will post 10.46 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be given a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date of this dividend is Wednesday, October 14th. AbbVie’s payout ratio is currently 52.80%.

About AbbVie

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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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