Vigilant Capital Management LLC Grows Holdings in AbbVie Inc (NYSE:ABBV)

Vigilant Capital Management LLC raised its position in AbbVie Inc (NYSE:ABBV) by 8.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 208,616 shares of the company’s stock after buying an additional 16,295 shares during the period. AbbVie comprises 2.0% of Vigilant Capital Management LLC’s investment portfolio, making the stock its 21st biggest position. Vigilant Capital Management LLC’s holdings in AbbVie were worth $15,171,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van Leeuwen & Company LLC lifted its holdings in shares of AbbVie by 4.1% in the 4th quarter. Van Leeuwen & Company LLC now owns 3,296 shares of the company’s stock worth $304,000 after acquiring an additional 130 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its holdings in shares of AbbVie by 0.3% in the 2nd 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 acquiring an additional 147 shares during the last quarter. Marathon Capital Management lifted its holdings in shares of AbbVie by 6.6% in the 4th quarter. Marathon Capital Management now owns 2,516 shares of the company’s stock worth $231,000 after acquiring an additional 155 shares during the last quarter. Graves Light Private Wealth Management Inc. lifted its holdings in shares of AbbVie by 2.2% in the 1st quarter. Graves Light Private Wealth Management Inc. now owns 7,181 shares of the company’s stock worth $579,000 after acquiring an additional 155 shares during the last quarter. Finally, Bangor Savings Bank lifted its holdings in shares of AbbVie by 2.3% in the 2nd quarter. Bangor Savings Bank now owns 7,470 shares of the company’s stock worth $544,000 after acquiring an additional 171 shares during the last quarter. 68.52% of the stock is owned by institutional investors.

In other news, EVP William J. Chase acquired 30,400 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were bought at an average cost of $67.30 per share, with a total value of $2,045,920.00. Following the transaction, the executive vice president now owns 169,552 shares in the company, valued at approximately $11,410,849.60. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Roxanne S. Austin acquired 11,500 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was purchased at an average cost of $67.50 per share, for a total transaction of $776,250.00. Following the completion of the transaction, the director now owns 52,114 shares in the company, valued at approximately $3,517,695. The disclosure for this purchase can be found here. Corporate insiders own 0.08% of the company’s stock.

ABBV traded down $0.47 during trading hours on Wednesday, hitting $66.71. 4,268,744 shares of the company’s stock were exchanged, compared to its average volume of 10,793,975. AbbVie Inc has a 12-month low of $65.06 and a 12-month high of $100.23. The stock’s 50 day moving average price is $72.45. The stock has a market cap of $100.17 billion, a price-to-earnings ratio of 8.43, a P/E/G ratio of 1.37 and a beta of 0.99.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 26th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.05. AbbVie had a net margin of 12.62% and a negative return on equity of 198.18%. The firm had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same period in the prior year, the firm earned $2.00 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. As a group, sell-side analysts predict that AbbVie Inc will post 8.9 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 6.42%. The ex-dividend date of this dividend is Friday, July 12th. AbbVie’s dividend payout ratio is presently 54.11%.

Several brokerages have recently commented on ABBV. Piper Jaffray Companies set a $265.00 price objective on shares of SVB Financial Group and gave the stock a “buy” rating in a report on Friday, July 26th. ValuEngine lowered shares of Yirendai from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 26th. Wolfe Research upgraded shares of AbbVie from an “underperform” rating to a “peer perform” rating in a report on Thursday, June 27th. Svb Leerink upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price objective on the stock in a report on Wednesday, June 26th. Finally, Goldman Sachs Group set a $27.00 target price on shares of Melco Resorts & Entertainment and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. AbbVie presently has an average rating of “Hold” and a consensus price target of $92.05.

AbbVie Company Profile

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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