NewSquare Capital LLC boosted its stake in AbbVie Inc. (NYSE:ABBV) by 14.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,446 shares of the company’s stock after buying an additional 1,596 shares during the period. NewSquare Capital LLC’s holdings in AbbVie were worth $771,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. CapWealth Advisors LLC raised its position in AbbVie by 55.2% in the first quarter. CapWealth Advisors LLC now owns 1,797 shares of the company’s stock worth $103,000 after buying an additional 639 shares during the last quarter. Acropolis Investment Management LLC acquired a new position in shares of AbbVie during the second quarter valued at approximately $106,000. 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 last quarter. Americafirst Capital Management LLC acquired a new position in shares of AbbVie during the second quarter valued at approximately $122,000. Finally, D. Scott Neal Inc. raised its position in shares of AbbVie by 107.4% in the second quarter. D. Scott Neal Inc. now owns 1,999 shares of the company’s stock valued at $124,000 after buying an additional 1,035 shares during the last quarter. 68.36% of the stock is owned by institutional investors.
AbbVie Inc. (NYSE:ABBV) traded down 1.60% during trading on Friday, hitting $60.17. The stock had a trading volume of 5,606,474 shares. The stock has a 50 day moving average price of $63.50 and a 200-day moving average price of $62.68. The stock has a market cap of $97.99 billion, a price-to-earnings ratio of 17.36 and a beta of 1.50. AbbVie Inc. has a 12 month low of $45.45 and a 12 month high of $68.12.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 29th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.06. The business earned $6.43 billion during the quarter, compared to analysts’ expectations of $6.20 billion. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 EPS. On average, equities analysts predict that AbbVie Inc. will post $4.81 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Wednesday, October 12th. AbbVie’s dividend payout ratio is presently 65.71%.
Several brokerages have recently commented on ABBV. Jefferies Group reissued a “buy” rating and set a $90.00 price objective on shares of AbbVie in a report on Wednesday, October 5th. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Wednesday, September 28th. Goldman Sachs Group Inc. reissued a “buy” rating and set a $78.00 price objective on shares of AbbVie in a report on Tuesday, September 27th. Vetr raised AbbVie from a “buy” rating to a “strong-buy” rating and set a $72.59 price objective for the company in a report on Thursday, September 8th. Finally, JPMorgan Chase & Co. lowered AbbVie from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $75.00 to $73.00 in a report on Thursday, September 8th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. AbbVie has an average rating of “Buy” and an average price target of $70.68.
In other AbbVie news, insider Laura J. Schumacher sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 144,138 shares in the company, valued at approximately $9,368,970. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.11% of the company’s stock.
AbbVie Company Profile
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.