AbbVie Inc (NYSE:ABBV) Shares Purchased by Berkeley Capital Partners LLC

Berkeley Capital Partners LLC boosted its holdings in AbbVie Inc (NYSE:ABBV) by 3.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,099 shares of the company’s stock after acquiring an additional 195 shares during the period. Berkeley Capital Partners LLC’s holdings in AbbVie were worth $599,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ABBV. Capstone Financial Group Inc. purchased a new stake in shares of AbbVie during the 2nd quarter valued at $25,000. Efficient Wealth Management LLC purchased a new stake in shares of AbbVie during the 1st quarter valued at $27,000. Lion Street Advisors LLC purchased a new stake in shares of AbbVie during the 1st quarter valued at $29,000. Marquette Asset Management LLC grew its stake in shares of AbbVie by 200.0% during the 1st quarter. Marquette Asset Management LLC now owns 450 shares of the company’s stock valued at $34,000 after buying an additional 300 shares during the period. Finally, Horrell Capital Management Inc. purchased a new stake in shares of AbbVie during the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 72.40% of the company’s stock.

In other AbbVie news, Vice Chairman Carlos Alban sold 53,325 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now owns 137,899 shares in the company, valued at approximately $13,789,900. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Timothy J. Richmond sold 19,445 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $85.00, for a total transaction of $1,652,825.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,794 shares of company stock valued at $9,057,485. Insiders own 0.09% of the company’s stock.

Shares of AbbVie stock traded down $1.13 during trading on Friday, reaching $94.91. The company had a trading volume of 14,614,332 shares, compared to its average volume of 5,717,843. The company has a market cap of $141.83 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 1.65 and a beta of 0.86. The firm’s fifty day moving average is $97.25 and its 200-day moving average is $88.40. AbbVie Inc has a fifty-two week low of $62.55 and a fifty-two week high of $101.28.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 31st. The company reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.14. The business had revenue of $10.43 billion for the quarter, compared to analyst estimates of $10.14 billion. AbbVie had a net margin of 24.77% and a negative return on equity of 169.80%. The company’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.26 EPS. On average, equities analysts forecast that AbbVie Inc will post 10.45 EPS for the current fiscal 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 given a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend is Tuesday, July 14th. AbbVie’s dividend payout ratio is presently 52.80%.

ABBV has been the subject of several research reports. Royal Bank of Canada boosted their price objective on shares of AbbVie from $102.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, June 25th. They noted that the move was a valuation call. ValuEngine lowered shares of AbbVie from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 27th. Bank of America initiated coverage on shares of AbbVie in a report on Monday, May 18th. They set a “neutral” rating and a $95.00 target price on the stock. JPMorgan Chase & Co. upgraded shares of AbbVie from a “neutral” rating to an “overweight” rating and set a $105.00 target price on the stock in a report on Tuesday, May 12th. Finally, Morgan Stanley restated an “overweight” rating and set a $95.00 target price on shares of AbbVie in a report on Monday, May 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $106.80.

AbbVie 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.

See Also: Equity Income

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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