TCI Wealth Advisors Inc. raised its position in AbbVie Inc. (NYSE:ABBV) by 3.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,893 shares of the company’s stock after buying an additional 571 shares during the period. TCI Wealth Advisors Inc.’s holdings in AbbVie were worth $1,232,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of ABBV. Nisa Investment Advisors LLC boosted its stake in shares of AbbVie by 18.9% in the second quarter. Nisa Investment Advisors LLC now owns 631,940 shares of the company’s stock worth $39,123,000 after buying an additional 100,674 shares in the last quarter. BB&T Securities LLC boosted its stake in AbbVie by 46.4% in the first quarter. BB&T Securities LLC now owns 1,379,549 shares of the company’s stock valued at $78,799,000 after buying an additional 436,945 shares during the period. AXA boosted its stake in AbbVie by 74.3% in the first quarter. AXA now owns 3,061,184 shares of the company’s stock valued at $174,855,000 after buying an additional 1,304,557 shares during the period. RNC Capital Management LLC boosted its stake in AbbVie by 1.2% in the second quarter. RNC Capital Management LLC now owns 620,340 shares of the company’s stock valued at $38,405,000 after buying an additional 7,057 shares during the period. Finally, Orbis Allan Gray Ltd purchased a new stake in AbbVie during the first quarter valued at approximately $281,766,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.
Shares of AbbVie Inc. (NYSE:ABBV) opened at 61.34 on Friday. The firm has a market capitalization of $99.89 billion, a PE ratio of 17.69 and a beta of 1.50. AbbVie Inc. has a 1-year low of $45.45 and a 1-year high of $68.12. The firm’s 50 day moving average is $63.63 and its 200 day moving average is $62.65.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 29th. The company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.06. The firm 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 company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.08 EPS. Analysts anticipate that AbbVie Inc. will post $4.81 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $2.28 annualized dividend and a yield of 3.73%. AbbVie’s dividend payout ratio is presently 65.71%.
ABBV has been the subject of several recent analyst reports. Vetr cut shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.78 target price for the company. in a research note on Thursday, June 23rd. Credit Suisse Group AG restated a “buy” rating on shares of AbbVie in a research note on Sunday, July 10th. Argus restated a “buy” rating and issued a $85.00 target price on shares of AbbVie in a research note on Monday, August 8th. Jefferies Group restated a “buy” rating on shares of AbbVie in a research note on Thursday, August 4th. Finally, Goldman Sachs Group Inc. restated a “buy” rating and issued a $78.00 target price on shares of AbbVie in a research note on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s 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 AbbVie stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $65.00, for a total value of $3,250,000.00. Following the completion of the transaction, the insider now directly owns 144,138 shares of the company’s stock, valued at approximately $9,368,970. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by company insiders.
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.