SVA Wealth Management LLC decreased its position in AbbVie Inc (NYSE:ABBV) by 2.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 10,376 shares of the company’s stock after selling 216 shares during the period. SVA Wealth Management LLC’s holdings in AbbVie were worth $755,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of AbbVie by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 17,582,527 shares of the company’s stock worth $1,617,957,000 after acquiring an additional 880,288 shares during the last quarter. Lido Advisors LLC increased its holdings in shares of AbbVie by 8.4% during the 4th quarter. Lido Advisors LLC now owns 26,668 shares of the company’s stock worth $2,458,000 after acquiring an additional 2,060 shares during the last quarter. Jefferies Financial Group Inc. increased its holdings in shares of AbbVie by 1.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 40,805 shares of the company’s stock worth $3,762,000 after acquiring an additional 725 shares during the last quarter. Avalon Advisors LLC increased its holdings in shares of AbbVie by 121.0% during the 4th quarter. Avalon Advisors LLC now owns 405,159 shares of the company’s stock worth $37,352,000 after acquiring an additional 221,819 shares during the last quarter. Finally, Campbell Wealth Management acquired a new position in shares of AbbVie during the 4th quarter worth approximately $204,000. Hedge funds and other institutional investors own 68.15% of the company’s stock.
In related news, Director Roxanne S. Austin acquired 11,500 shares of the stock in a transaction dated Wednesday, June 26th. The stock was bought 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 directly owns 52,114 shares of the company’s stock, valued at $3,517,695. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jeffrey Ryan Stewart acquired 15,552 shares of the stock in a transaction dated Friday, August 16th. The shares were bought at an average price of $64.44 per share, with a total value of $1,002,170.88. Following the completion of the transaction, the senior vice president now directly owns 65,304 shares of the company’s stock, valued at $4,208,189.76. The disclosure for this purchase can be found here. Insiders acquired 159,977 shares of company stock valued at $10,626,621 over the last quarter. Corporate insiders own 0.08% of the company’s stock.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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 negative return on equity of 182.70% and a net margin of 12.62%. The business 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 for the quarter was down .3% on a year-over-year basis. As a group, analysts predict that AbbVie Inc will post 8.9 EPS for the current fiscal year.
The company also recently announced a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $1.07 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a yield of 6.4%. AbbVie’s dividend payout ratio is presently 54.11%.
A number of research analysts have commented on ABBV shares. Wolfe Research raised AbbVie from an “underperform” rating to a “peer perform” rating in a report on Thursday, June 27th. Citigroup reaffirmed a “hold” rating on shares of AbbVie in a report on Wednesday, June 26th. UBS Group raised AbbVie from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $85.00 to $79.00 in a report on Thursday. Goldman Sachs Group started coverage on AbbVie in a report on Tuesday, May 28th. They issued a “neutral” rating and a $84.00 price objective on the stock. Finally, TheStreet lowered AbbVie from a “b-” rating to a “c” rating in a report on Monday, August 26th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $91.20.
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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