Supplemental Annuity Collective Trust of NJ boosted its position in AbbVie Inc (NYSE:ABBV) by 37.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,062 shares of the company’s stock after buying an additional 6,062 shares during the period. AbbVie makes up approximately 1.0% of Supplemental Annuity Collective Trust of NJ’s investment portfolio, making the stock its 17th largest holding. Supplemental Annuity Collective Trust of NJ’s holdings in AbbVie were worth $2,166,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in ABBV. Guggenheim Capital LLC boosted its position in AbbVie by 14.2% in the 4th quarter. Guggenheim Capital LLC now owns 734,809 shares of the company’s stock worth $65,060,000 after purchasing an additional 91,269 shares in the last quarter. Lake Street Financial LLC raised its stake in shares of AbbVie by 126.3% during the 1st quarter. Lake Street Financial LLC now owns 5,180 shares of the company’s stock worth $395,000 after buying an additional 2,891 shares during the period. Marquette Asset Management LLC raised 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 worth $34,000 after buying an additional 300 shares during the period. Mountain Pacific Investment Advisers Inc. ID raised its stake in shares of AbbVie by 3.6% during the 1st quarter. Mountain Pacific Investment Advisers Inc. ID now owns 23,621 shares of the company’s stock worth $1,800,000 after buying an additional 820 shares during the period. Finally, Clarus Wealth Advisors acquired a new position in shares of AbbVie during the 1st quarter worth approximately $236,000. Institutional investors and hedge funds own 72.40% of the company’s stock.
ABBV has been the subject of several research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $95.00 target price on shares of AbbVie in a research note on Monday, May 11th. Atlantic Securities raised AbbVie from a “neutral” rating to an “overweight” rating and set a $115.00 target price for the company in a research note on Tuesday, June 23rd. Royal Bank of Canada increased their price objective on AbbVie from $125.00 to $127.00 and gave the company an “outperform” rating in a research note on Monday. UBS Group increased their price objective on AbbVie from $96.00 to $109.00 in a research note on Wednesday, June 17th. Finally, Mizuho increased their price objective on AbbVie from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Monday. One 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. The company presently has a consensus rating of “Buy” and a consensus target price of $107.00.
ABBV stock traded down $0.68 during mid-day trading on Thursday, reaching $92.57. The company had a trading volume of 7,264,986 shares, compared to its average volume of 10,596,959. The company has a market capitalization of $136.32 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 1.82 and a beta of 0.83. The firm has a fifty day simple moving average of $97.49 and a 200 day simple moving average of $88.56. AbbVie Inc has a fifty-two week low of $62.55 and a fifty-two week high of $101.28.
AbbVie (NYSE:ABBV) last posted its quarterly 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 company had revenue of $10.43 billion for the quarter, compared to analyst estimates of $10.14 billion. AbbVie had a negative return on equity of 179.78% and a net margin of 19.20%. AbbVie’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.26 EPS. Sell-side analysts predict that AbbVie Inc will post 10.46 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be given a dividend of $1.18 per share. This represents a $4.72 annualized dividend and a dividend yield of 5.10%. The ex-dividend date is Tuesday, July 14th. AbbVie’s dividend payout ratio (DPR) is presently 52.80%.
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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