Amica Pension Fund Board of Trustees held its stake in shares of AbbVie Inc. (NYSE:ABBV) during the first quarter, Holdings Channel reports. The institutional investor owned 62,492 shares of the company’s stock at the end of the first quarter. Amica Pension Fund Board of Trustees’ holdings in AbbVie were worth $4,072,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in ABBV. Bollard Group LLC raised its stake in shares of AbbVie by 0.5% in the first quarter. Bollard Group LLC now owns 3,745 shares of the company’s stock valued at $244,000 after buying an additional 20 shares during the period. TRUE Private Wealth Advisors raised its stake in shares of AbbVie by 0.5% in the first quarter. TRUE Private Wealth Advisors now owns 4,787 shares of the company’s stock valued at $313,000 after buying an additional 24 shares during the period. Country Club Trust Company n.a. raised its stake in shares of AbbVie by 0.6% in the first quarter. Country Club Trust Company n.a. now owns 4,434 shares of the company’s stock valued at $289,000 after buying an additional 26 shares during the period. Stratford Consulting LLC raised its stake in shares of AbbVie by 0.7% in the first quarter. Stratford Consulting LLC now owns 3,959 shares of the company’s stock valued at $258,000 after buying an additional 29 shares during the period. Finally, K.J. Harrison & Partners Inc raised its stake in shares of AbbVie by 0.6% in the first quarter. K.J. Harrison & Partners Inc now owns 5,031 shares of the company’s stock valued at $328,000 after buying an additional 31 shares during the period. 68.08% of the stock is currently owned by institutional investors.
Shares of AbbVie Inc. (NYSE ABBV) opened at 73.91 on Tuesday. AbbVie Inc. has a 1-year low of $55.06 and a 1-year high of $75.04. The stock has a market cap of $117.63 billion, a price-to-earnings ratio of 19.16 and a beta of 1.51. The company has a 50-day moving average price of $71.63 and a 200-day moving average price of $65.94. AbbVie also was the recipient of unusually large options trading activity on Monday. Traders bought 278 put options on the company. This is an increase of approximately 121% compared to the typical volume of 126 put options.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, April 27th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.02. AbbVie had a net margin of 24.07% and a return on equity of 148.83%. The firm had revenue of $6.54 billion during the quarter, compared to analyst estimates of $6.49 billion. During the same quarter last year, the business posted $1.15 EPS. The company’s revenue was up 9.7% on a year-over-year basis. On average, equities analysts expect that AbbVie Inc. will post $5.53 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Wednesday, July 12th. AbbVie’s dividend payout ratio (DPR) is currently 66.32%.
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ABBV has been the topic of several research analyst reports. Zacks Investment Research lowered AbbVie from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Vetr raised AbbVie from a “buy” rating to a “strong-buy” rating and set a $74.38 price target on the stock in a research note on Monday, May 8th. Deutsche Bank AG boosted their price target on AbbVie from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Jefferies Group LLC reissued a “buy” rating on shares of AbbVie in a research note on Friday, May 26th. Finally, Credit Suisse Group reissued a “hold” rating and set a $65.00 price target on shares of AbbVie in a research note on Wednesday, June 7th. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $74.52.
In other AbbVie news, EVP Carlos Alban sold 43,000 shares of AbbVie stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $67.00, for a total transaction of $2,881,000.00. Following the completion of the sale, the executive vice president now owns 114,745 shares of the company’s stock, valued at approximately $7,687,915. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO William J. Chase sold 38,300 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $65.35, for a total transaction of $2,502,905.00. Following the transaction, the chief financial officer now owns 209,043 shares in the company, valued at approximately $13,660,960.05. The disclosure for this sale can be found here. Insiders have sold a total of 278,135 shares of company stock valued at $18,841,085 in the last three months. Company insiders own 0.23% of the company’s stock.
About AbbVie
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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