Alerus Financial NA raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 35,236 shares of the company’s stock after buying an additional 273 shares during the period. Alerus Financial NA’s holdings in AbbVie were worth $2,296,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in ABBV. First Command Financial Services Inc. boosted its position in shares of AbbVie by 6.8% in the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock worth $102,000 after buying an additional 99 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of AbbVie during the fourth quarter worth approximately $137,000. American National Bank boosted its position in shares of AbbVie by 13.8% in the first quarter. American National Bank now owns 2,471 shares of the company’s stock worth $161,000 after buying an additional 299 shares during the last quarter. Cable Hill Partners LLC boosted its position in shares of AbbVie by 7.4% in the first quarter. Cable Hill Partners LLC now owns 2,711 shares of the company’s stock worth $177,000 after buying an additional 186 shares during the last quarter. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in shares of AbbVie by 5,766.3% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 178,217 shares of the company’s stock worth $178,000 after buying an additional 175,179 shares during the last quarter. 68.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of AbbVie Inc. (ABBV) opened at 72.03 on Monday. The stock has a market capitalization of $114.64 billion, a price-to-earnings ratio of 18.67 and a beta of 1.51. AbbVie Inc. has a 12 month low of $55.06 and a 12 month high of $73.67. The firm’s 50 day moving average is $68.61 and its 200 day moving average is $64.71.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, April 27th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.02. The company had revenue of $6.54 billion for the quarter, compared to analyst estimates of $6.49 billion. AbbVie had a return on equity of 148.83% and a net margin of 24.07%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company earned $1.15 earnings per share. On average, equities analysts predict that AbbVie Inc. will post $5.53 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Wednesday, July 12th. AbbVie’s dividend payout ratio (DPR) is 66.32%.
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A number of research firms recently weighed in on ABBV. Jefferies Group LLC reiterated a “buy” rating on shares of AbbVie in a research report on Friday, May 26th. Vetr lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $71.84 price objective on the stock. in a research report on Monday, May 15th. Societe Generale upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Deutsche Bank AG lifted their price objective on shares of AbbVie from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Finally, BMO Capital Markets set a $63.00 price objective on shares of AbbVie and gave the company a “hold” rating in a research report on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $73.42.
In other news, EVP Carlos Alban sold 43,000 shares of the firm’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $67.00, for a total transaction of $2,881,000.00. Following the transaction, the executive vice president now directly owns 114,745 shares of the company’s stock, valued at $7,687,915. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laura J. Schumacher sold 79,800 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $70.00, for a total value of $5,586,000.00. Following the transaction, the insider now directly owns 187,625 shares in the company, valued at $13,133,750. The disclosure for this sale can be found here. Insiders have sold 278,135 shares of company stock worth $18,841,085 over the last three months. Corporate insiders own 0.23% of the company’s stock.
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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