Today: The Buckingham Asset Management LLC Boosts Position in AbbVie Inc. (ABBV)

The Buckingham Asset Management LLC Boosts Position in AbbVie Inc. (ABBV)

Buckingham Asset Management LLC increased its position in AbbVie Inc. (NYSE:ABBV) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,579 shares of the company’s stock after buying an additional 45 shares during the period. Buckingham Asset Management LLC’s holdings in AbbVie were worth $903,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. CapWealth Advisors LLC raised its position in shares of AbbVie by 55.2% in the first quarter. CapWealth Advisors LLC now owns 1,797 shares of the company’s stock valued at $103,000 after buying an additional 639 shares during the period. Acropolis Investment Management LLC acquired a new position in shares of AbbVie during the second quarter valued at approximately $106,000. Cypress Capital Management LLC WY acquired a new position in shares of AbbVie during the second quarter valued at approximately $114,000. Hartford Financial Management Inc. raised its position in shares of AbbVie by 100.0% in the second quarter. Hartford Financial Management Inc. now owns 1,958 shares of the company’s stock valued at $115,000 after buying an additional 979 shares during the period. Finally, Americafirst Capital Management LLC acquired a new position in shares of AbbVie during the second quarter valued at approximately $122,000. 68.35% of the stock is currently owned by institutional investors.

AbbVie Inc. (NYSE:ABBV) traded down 6.28% during mid-day trading on Friday, reaching $57.60. The company’s stock had a trading volume of 24,865,263 shares. The firm has a 50-day moving average of $62.56 and a 200-day moving average of $62.86. AbbVie Inc. has a 52 week low of $50.71 and a 52 week high of $68.12. The stock has a market capitalization of $93.80 billion, a price-to-earnings ratio of 15.57 and a beta of 1.50.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 28th. The company reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.01. The company had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.55 billion. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.13 earnings per share. On average, equities research analysts expect that AbbVie Inc. will post $4.81 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Friday, January 13th 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 4.44%. The ex-dividend date is Wednesday, January 11th. This is a boost from AbbVie’s previous quarterly dividend of $0.57. AbbVie’s payout ratio is currently 61.62%.

Several equities research analysts recently issued reports on the company. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $78.00 price objective on shares of AbbVie in a report on Tuesday, September 27th. Vetr upgraded AbbVie from a “hold” rating to a “buy” rating and set a $67.14 price target on the stock in a report on Monday, July 18th. BMO Capital Markets restated a “market perform” rating and set a $66.00 price target on shares of AbbVie in a report on Friday, July 29th. Credit Suisse Group AG restated a “buy” rating on shares of AbbVie in a report on Sunday, July 10th. Finally, Jefferies Group restated a “buy” rating and set a $90.00 price target on shares of AbbVie in a report on Wednesday, October 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $70.64.

In other news, insider Laura J. Schumacher sold 50,000 shares of AbbVie stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $65.00, for a total transaction of $3,250,000.00. Following the sale, the insider now directly owns 144,138 shares of the company’s stock, valued at $9,368,970. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.11% of the company’s stock.

About AbbVie

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company operates in pharmaceutical products segment. 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 (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions.

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