Tandem Investment Advisors Inc. Has $31.20 Million Holdings in AbbVie Inc (NYSE:ABBV)

Tandem Investment Advisors Inc. grew its position in AbbVie Inc (NYSE:ABBV) by 5.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 317,743 shares of the company’s stock after acquiring an additional 17,601 shares during the quarter. AbbVie accounts for about 4.2% of Tandem Investment Advisors Inc.’s holdings, making the stock its 4th largest position. Tandem Investment Advisors Inc.’s holdings in AbbVie were worth $31,196,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ABBV. Capstone Financial Group Inc. bought a new stake in shares of AbbVie in the 2nd quarter worth about $25,000. Efficient Wealth Management LLC bought a new stake in shares of AbbVie in the 1st quarter worth about $27,000. Lion Street Advisors LLC bought a new stake in shares of AbbVie in the 1st quarter worth about $29,000. Marquette Asset Management LLC grew its holdings in shares of AbbVie by 200.0% in the 1st quarter. Marquette Asset Management LLC now owns 450 shares of the company’s stock worth $34,000 after purchasing an additional 300 shares during the last quarter. Finally, Horrell Capital Management Inc. bought a new stake in shares of AbbVie in the 1st quarter worth about $34,000. Institutional investors own 72.40% of the company’s stock.

AbbVie stock traded down $1.13 during mid-day 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 $140.16 billion, a P/E ratio of 16.80, a P/E/G ratio of 1.63 and a beta of 0.86. AbbVie Inc has a fifty-two week low of $62.55 and a fifty-two week high of $101.28. The business has a fifty day simple moving average of $97.25 and a 200 day simple moving average of $88.40.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 31st. The company reported $2.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.14. AbbVie had a negative return on equity of 169.80% and a net margin of 24.77%. The business had revenue of $10.43 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the previous year, the business earned $2.26 earnings per share. The business’s revenue was up 26.3% on a year-over-year basis. Sell-side analysts predict that AbbVie Inc will post 10.4 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be paid a $1.18 dividend. This represents a $4.72 annualized dividend and a yield of 4.97%. The ex-dividend date is Tuesday, July 14th. AbbVie’s payout ratio is currently 52.80%.

In related news, EVP Timothy J. Richmond sold 19,445 shares of the firm’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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Carlos Alban sold 53,325 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $100.00, for a total value of $5,332,500.00. Following the completion of the sale, the insider now owns 137,899 shares in the company, valued at approximately $13,789,900. The disclosure for this sale can be found here. Insiders have sold a total of 95,794 shares of company stock worth $9,057,485 over the last ninety days. Insiders own 0.09% of the company’s stock.

Several research analysts recently issued reports on ABBV shares. Atlantic Securities upgraded shares of AbbVie from a “neutral” rating to an “overweight” rating and set a $115.00 target price on the stock in a research report on Tuesday, June 23rd. TheStreet raised AbbVie from a “c+” rating to a “b-” rating in a research note on Friday, June 12th. Mizuho increased their target price on AbbVie from $101.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Bank of America initiated coverage on AbbVie in a research note on Monday, May 18th. They set a “neutral” rating and a $95.00 target price for the company. Finally, Wolfe Research raised AbbVie from a “peer perform” rating to an “outperform” rating in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. AbbVie presently has a consensus rating of “Buy” and an average target price 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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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