Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in AbbVie Inc. (NYSE:ABBV) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,281 shares of the company’s stock after buying an additional 1,474 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in AbbVie were worth $7,920,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. WealthTrust Axiom LLC increased its position in shares of AbbVie by 0.3% during the second quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock worth $312,000 after acquiring an additional 15 shares in the last quarter. Abner Herrman & Brock LLC grew its position in AbbVie by 0.3% in the 2nd quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock worth $456,000 after purchasing an additional 18 shares in the last quarter. Bollard Group LLC grew its position in AbbVie by 0.5% in the 2nd quarter. Bollard Group LLC now owns 3,764 shares of the company’s stock worth $273,000 after purchasing an additional 19 shares in the last quarter. St. Louis Trust Co grew its position in AbbVie by 0.7% in the 2nd quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock worth $248,000 after purchasing an additional 23 shares in the last quarter. Finally, TRUE Private Wealth Advisors grew its position in AbbVie by 0.6% in the 2nd quarter. TRUE Private Wealth Advisors now owns 4,814 shares of the company’s stock worth $349,000 after purchasing an additional 27 shares in the last quarter. 69.32% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on the stock. Leerink Swann set a $106.00 target price on shares of AbbVie and gave the company a “buy” rating in a research note on Tuesday. BMO Capital Markets set a $84.00 price target on shares of AbbVie and gave the company a “hold” rating in a research note on Monday. ValuEngine cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Societe Generale increased their target price on shares of AbbVie in a research note on Tuesday, November 21st. Finally, BidaskClub upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 11th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $96.66.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period last year, the company posted $1.21 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. equities research analysts expect that AbbVie Inc. will post 5.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.71 per share. This is a boost from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio (DPR) is 62.14%.
In other AbbVie news, Chairman Richard A. Gonzalez sold 218,193 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the completion of the sale, the chairman now directly owns 492,030 shares in the company, valued at approximately $46,255,740.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $85.02, for a total transaction of $705,666.00. Following the sale, the senior vice president now owns 93,099 shares of the company’s stock, valued at $7,915,276.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 277,125 shares of company stock valued at $25,891,756. 0.23% of the stock is currently owned by corporate insiders.
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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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