Whitnell & Co. boosted its position in AbbVie Inc (NYSE:ABBV) by 4.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,869 shares of the company’s stock after acquiring an additional 2,180 shares during the period. AbbVie accounts for 1.2% of Whitnell & Co.’s investment portfolio, making the stock its 26th biggest position. Whitnell & Co.’s holdings in AbbVie were worth $3,700,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Arbor Wealth Management LLC bought a new stake in shares of AbbVie during the 2nd quarter valued at about $28,000. Lowe Wealth Advisors LLC boosted its stake in shares of AbbVie by 206.7% during the 2nd 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. bought a new stake in shares of AbbVie during the 2nd quarter valued at about $33,000. TD Capital Management LLC bought a new stake in shares of AbbVie during the 2nd quarter valued at about $33,000. Finally, Financial Gravity Wealth Inc. boosted its stake in shares of AbbVie by 82.9% during the 2nd 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. 68.38% of the stock is currently owned by institutional investors and hedge funds.
AbbVie stock traded up $3.20 during trading hours on Friday, hitting $85.21. The stock had a trading volume of 11,307,381 shares, compared to its average volume of 7,972,123. The stock has a market capitalization of $121.00 billion, a P/E ratio of 10.77, a price-to-earnings-growth ratio of 2.04 and a beta of 0.98. AbbVie Inc has a 12-month low of $62.66 and a 12-month high of $94.98. The stock’s 50-day moving average price is $76.28 and its 200-day moving average price is $73.49.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, November 1st. The company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.04. The business had revenue of $8.48 billion during the quarter, compared to analysts’ expectations of $8.37 billion. AbbVie had a net margin of 9.90% and a negative return on equity of 155.71%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.14 earnings per share. As a group, equities analysts forecast that AbbVie Inc will post 8.93 earnings per share for the current fiscal year.
The company also recently announced a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $1.07 dividend. The ex-dividend date is Friday, October 11th. This represents a yield of 6.4%. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.
In other news, major shareholder Istar Inc. bought 40,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of $28.52 per share, with a total value of $1,140,800.00. Also, SVP Jeffrey Ryan Stewart bought 15,552 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was purchased at an average cost of $64.44 per share, with a total value of $1,002,170.88. Following the completion of the acquisition, the senior vice president now directly owns 65,304 shares of the company’s stock, valued at approximately $4,208,189.76. The disclosure for this purchase can be found here. Insiders acquired 88,077 shares of company stock valued at $4,401,551 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.
ABBV has been the topic of a number of research reports. TheStreet lowered shares of AbbVie from a “b-” rating to a “c” rating in a research note on Monday, August 26th. ValuEngine raised shares of AbbVie from a “strong sell” rating to a “sell” rating in a research report on Monday, September 30th. Cowen set a $90.00 price target on shares of AbbVie and gave the company a “buy” rating in a research report on Tuesday, September 24th. UBS Group raised shares of AbbVie from a “neutral” rating to a “buy” rating and lowered their price target for the company from $85.00 to $79.00 in a research report on Thursday, September 12th. Finally, Piper Jaffray Companies lifted their price target on shares of AbbVie from $81.00 to $90.00 in a research report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $84.88.
AbbVie Company 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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