Trading Report: The Financial Counselors Inc. Raises it position for AbbVie Inc. (ABBV)

The Financial Counselors Inc. Raises it position for AbbVie Inc. (ABBV)

Financial Counselors Inc. increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 4.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 227,196 shares of the company’s stock after buying an additional 9,544 shares during the period. AbbVie accounts for about 0.8% of Financial Counselors Inc.’s portfolio, making the stock its 25th largest position. Financial Counselors Inc.’s holdings in AbbVie were worth $14,066,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Commonwealth Equity Services Inc boosted its stake in shares of AbbVie by 13.4% in the first quarter. Commonwealth Equity Services Inc now owns 557,267 shares of the company’s stock worth $31,831,000 after buying an additional 66,017 shares during the period. River Wealth Advisors LLC boosted its stake in shares of AbbVie by 3.1% in the first quarter. River Wealth Advisors LLC now owns 10,164 shares of the company’s stock worth $581,000 after buying an additional 309 shares during the period. Telemus Capital LLC acquired a new stake in shares of AbbVie during the first quarter worth approximately $1,138,000. Factory Mutual Insurance Co. boosted its stake in shares of AbbVie by 41.6% in the first quarter. Factory Mutual Insurance Co. now owns 524,100 shares of the company’s stock worth $29,937,000 after buying an additional 154,000 shares during the period. Finally, Sanders Morris Harris Inc. acquired a new stake in shares of AbbVie during the first quarter worth approximately $1,004,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Inc. (NYSE:ABBV) traded up 0.03% during mid-day trading on Friday, reaching $61.17. 528,132 shares of the company’s stock were exchanged. AbbVie Inc. has a 52 week low of $45.45 and a 52 week high of $68.12. The company has a market capitalization of $99.62 billion, a P/E ratio of 17.64 and a beta of 1.50. The company’s 50 day moving average price is $63.63 and its 200-day moving average price is $62.65.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 29th. The company reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.06. AbbVie had a net margin of 23.11% and a return on equity of 161.46%. The company earned $6.43 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same quarter in the prior year, the company posted $1.08 EPS. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, equities research analysts expect that AbbVie Inc. will post $4.81 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Wednesday, October 12th. AbbVie’s dividend payout ratio is currently 65.71%.

Several research firms recently issued reports on ABBV. Credit Suisse Group AG restated a “buy” rating on shares of AbbVie in a research report on Sunday, July 10th. Vetr cut shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.78 price objective for the company. in a research report on Thursday, June 16th. Argus restated a “buy” rating and set a $85.00 price objective on shares of AbbVie in a research report on Monday, August 8th. Zacks Investment Research upgraded shares of AbbVie from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th. Finally, Barclays PLC restated an “equal weight” rating and set a $68.00 price objective on shares of AbbVie in a research report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $70.68.

In related news, insider Laura J. Schumacher sold 50,000 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $65.00, for a total transaction of $3,250,000.00. Following the completion of the sale, the insider now owns 144,138 shares of the company’s stock, valued at approximately $9,368,970. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.11% of the company’s stock.

AbbVie Company Profile

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