LVW Advisors LLC increased its holdings in AbbVie Inc (NYSE:ABBV) by 30.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 50,723 shares of the company’s stock after acquiring an additional 11,712 shares during the quarter. AbbVie accounts for 1.0% of LVW Advisors LLC’s portfolio, making the stock its 24th largest position. LVW Advisors LLC’s holdings in AbbVie were worth $3,841,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of ABBV. Arbor Wealth Management LLC purchased a new position in AbbVie during the second quarter valued at approximately $28,000. Lowe Wealth Advisors LLC lifted its holdings in AbbVie by 206.7% during the second quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock valued at $33,000 after purchasing an additional 310 shares in the last quarter. Horrell Capital Management Inc. purchased a new position in AbbVie during the second quarter valued at approximately $33,000. TD Capital Management LLC purchased a new position in AbbVie during the second quarter valued at approximately $33,000. Finally, Financial Gravity Wealth Inc. lifted its holdings in AbbVie by 82.9% during the second quarter. Financial Gravity Wealth Inc. now owns 503 shares of the company’s stock valued at $37,000 after purchasing an additional 228 shares in the last quarter. 68.22% of the stock is currently owned by institutional investors.
In other AbbVie news, Director Roxanne S. Austin purchased 10,000 shares of AbbVie stock in a transaction that occurred on Tuesday, July 30th. The shares were bought at an average price of $66.35 per share, for a total transaction of $663,500.00. Following the completion of the transaction, the director now owns 62,114 shares of the company’s stock, valued at approximately $4,121,263.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy J. Richmond sold 15,515 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $75.02, for a total transaction of $1,163,935.30. The disclosure for this sale can be found here. Insiders bought 183,077 shares of company stock worth $10,705,751 in the last three months. Insiders own 0.08% of the company’s stock.
Shares of ABBV stock traded up $0.81 during mid-day trading on Tuesday, hitting $78.11. The company had a trading volume of 4,362,712 shares, compared to its average volume of 7,524,211. AbbVie Inc has a 52-week low of $62.66 and a 52-week high of $94.98. The stock’s 50 day moving average price is $72.25 and its 200-day moving average price is $73.62. The company has a market capitalization of $113.04 billion, a P/E ratio of 9.87, a P/E/G ratio of 1.56 and a beta of 0.99.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 26th. The company reported $2.26 EPS 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 182.70%. The firm had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same quarter in the previous year, the firm earned $2.00 earnings per share. The company’s quarterly revenue was down .3% compared to the same quarter last year. As a group, equities analysts expect that AbbVie Inc will post 8.93 earnings per share for the current year.
The business also recently announced a — dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $1.07 dividend. This represents a dividend yield of 6.4%. The ex-dividend date is Friday, October 11th. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.
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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