Supplemental Annuity Collective Trust of NJ Raises Stake in AbbVie Inc (NYSE:ABBV)

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.

In other news, SVP Jeffrey Ryan Stewart sold 23,024 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $90.00, for a total transaction of $2,072,160.00. Following the sale, the senior vice president now owns 52,760 shares of the company’s stock, valued at approximately $4,748,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Carlos Alban sold 53,325 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 137,899 shares in the company, valued at approximately $13,789,900. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

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 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.

See Also: Fundamental Analysis – How It Helps Investors

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc (NYSE:ABBV).

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.