Crossvault Capital Management LLC grew its holdings in AbbVie Inc (NYSE:ABBV) by 9.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,252 shares of the company’s stock after acquiring an additional 5,655 shares during the period. AbbVie accounts for approximately 2.9% of Crossvault Capital Management LLC’s holdings, making the stock its 13th largest position. Crossvault Capital Management LLC’s holdings in AbbVie were worth $6,210,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of ABBV. Capstone Financial Group Inc. acquired a new stake in shares of AbbVie in the second quarter worth $25,000. Lion Street Advisors LLC acquired a new position in AbbVie during the 1st quarter valued at $29,000. Horrell Capital Management Inc. acquired a new position in AbbVie during the 1st quarter valued at $34,000. Lake Point Wealth Management raised its stake in AbbVie by 179.4% during the 1st quarter. Lake Point Wealth Management now owns 475 shares of the company’s stock valued at $36,000 after purchasing an additional 305 shares during the last quarter. Finally, NWK Group Inc. acquired a new position in AbbVie during the 1st quarter valued at $42,000. 72.40% of the stock is owned by institutional investors.
NYSE:ABBV traded down $0.83 during mid-day trading on Thursday, reaching $94.68. 6,002,426 shares of the company were exchanged, compared to its average volume of 10,502,634. AbbVie Inc has a 12 month low of $62.55 and a 12 month high of $101.28. The company has a fifty day moving average of $96.98 and a 200 day moving average of $88.72. The company has a quick ratio of 0.70, a current ratio of 0.86 and a debt-to-equity ratio of 5.57. The stock has a market cap of $167.09 billion, a PE ratio of 20.16, a PEG ratio of 1.48 and a beta of 0.83.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be issued a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date of this dividend is Tuesday, July 14th. AbbVie’s dividend payout ratio is currently 52.80%.
In other AbbVie news, Vice Chairman Carlos Alban sold 53,325 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $100.00, for a total transaction of $5,332,500.00. Following the sale, the insider now owns 137,899 shares of the company’s stock, valued at approximately $13,789,900. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is owned by corporate insiders.
Several research firms recently commented on ABBV. Royal Bank of Canada upped their target price on shares of AbbVie from $125.00 to $127.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Mizuho upped their target price on shares of AbbVie from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating and upped their target price for the company from $91.40 to $115.00 in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. upgraded shares of AbbVie from a “neutral” rating to an “overweight” rating and set a $105.00 target price for the company in a research note on Tuesday, May 12th. Finally, ValuEngine lowered shares of AbbVie from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company. AbbVie presently has an average rating of “Buy” and a consensus price target of $107.00.
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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