D L Carlson Investment Group Inc. lifted its stake in AbbVie Inc. (NYSE:ABBV) by 89.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,508 shares of the company’s stock after purchasing an additional 25,811 shares during the period. D L Carlson Investment Group Inc.’s holdings in AbbVie were worth $3,952,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Acropolis Investment Management LLC acquired a new stake in AbbVie during the 2nd quarter worth $106,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in AbbVie during the 1st quarter worth $108,000. Hudock Capital Group LLC raised its stake in AbbVie by 109.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after buying an additional 806 shares during the period. BDO Wealth Advisors LLC acquired a new stake in AbbVie during the 2nd quarter worth $115,000. Finally, Tradewinds Capital Management LLC raised its stake in AbbVie by 87.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock worth $148,000 after buying an additional 1,057 shares during the period. Institutional investors and hedge funds own 69.32% of the company’s stock.
In related news, VP Robert A. Michael sold 6,699 shares of AbbVie stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $88.00, for a total transaction of $589,512.00. Following the completion of the transaction, the vice president now owns 10,007 shares in the company, valued at $880,616. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the transaction, the chairman now owns 492,030 shares of the company’s stock, valued at approximately $46,255,740.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 277,125 shares of company stock worth $25,891,756. 0.23% of the stock is owned by company insiders.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. AbbVie’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.21 earnings per share. research analysts expect that AbbVie Inc. will post 5.55 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a $0.71 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.98%. This is an increase from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s payout ratio is currently 62.29%.
Several brokerages recently commented on ABBV. UBS reaffirmed a “neutral” rating on shares of AbbVie in a research note on Friday, October 13th. Jefferies Group raised their price objective on AbbVie from $107.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, October 16th. Cowen reissued a “hold” rating and issued a $95.00 price target (up previously from $70.00) on shares of AbbVie in a research note on Monday, September 11th. Evercore ISI assumed coverage on AbbVie in a research note on Wednesday, August 16th. They issued an “outperform” rating and a $95.00 price target on the stock. Finally, BMO Capital Markets reissued a “hold” rating and issued a $84.00 price target on shares of AbbVie in a research note on Tuesday, November 21st. Seven research 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 company. The company has an average rating of “Buy” and an average price target of $96.66.
ILLEGAL ACTIVITY WARNING: This news story was first reported by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this news story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://stocknewstimes.com/2017/12/06/d-l-carlson-investment-group-inc-buys-25811-shares-of-abbvie-inc-abbv.html.
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.
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).
Receive News & Ratings for AbbVie Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie Inc. and related companies with MarketBeat.com's FREE daily email newsletter.