DG Capital Management Inc. decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 63.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,464 shares of the company’s stock after selling 23,880 shares during the period. DG Capital Management Inc.’s holdings in AbbVie were worth $834,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ABBV. Alexandria Capital LLC boosted its position in AbbVie by 0.3% in the second quarter. Alexandria Capital LLC now owns 4,543 shares of the company’s stock valued at $281,000 after buying an additional 14 shares during the period. Bollard Group LLC boosted its position in AbbVie by 0.5% in the second quarter. Bollard Group LLC now owns 3,693 shares of the company’s stock valued at $229,000 after buying an additional 17 shares during the period. Lathrop Investment Management Corp boosted its position in AbbVie by 0.3% in the second quarter. Lathrop Investment Management Corp now owns 6,335 shares of the company’s stock valued at $392,000 after buying an additional 21 shares during the period. Regent Investment Management LLC boosted its position in AbbVie by 0.3% in the first quarter. Regent Investment Management LLC now owns 11,929 shares of the company’s stock valued at $681,000 after buying an additional 30 shares during the period. Finally, Texan Capital Management boosted its position in AbbVie by 0.4% in the second quarter. Texan Capital Management now owns 8,312 shares of the company’s stock valued at $515,000 after buying an additional 33 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.
AbbVie Inc. (NYSE:ABBV) traded up 0.16% during mid-day trading on Friday, reaching $62.93. 3,812,671 shares of the company’s stock traded hands. The company has a 50 day moving average price of $64.13 and a 200-day moving average price of $62.54. AbbVie Inc. has a 12 month low of $45.45 and a 12 month high of $68.12. The stock has a market cap of $102.48 billion, a P/E ratio of 18.15 and a beta of 1.50.
AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 company earned $6.43 billion during the quarter, compared to analyst estimates of $6.20 billion. AbbVie had a net margin of 23.11% and a return on equity of 161.46%. AbbVie’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.08 EPS. On average, analysts anticipate that AbbVie Inc. will post $4.81 EPS for the current 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 $0.57 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $2.28 annualized dividend and a dividend yield of 3.62%. AbbVie’s dividend payout ratio is currently 65.71%.
Several research firms have recently weighed in on ABBV. Credit Suisse Group AG reiterated a “buy” rating on shares of AbbVie in a 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 target for the company. in a report on Thursday, June 16th. Argus reiterated a “buy” rating and issued a $85.00 price target on shares of AbbVie in a report on Monday, August 8th. Zacks Investment Research upgraded shares of AbbVie from a “sell” rating to a “hold” rating in a report on Wednesday, June 29th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $68.00 price target on shares of AbbVie in a report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $70.68.
In other news, insider Laura J. Schumacher sold 50,000 shares of AbbVie stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $65.00, for a total value of $3,250,000.00. Following the completion of the sale, 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 hyperlink. 0.11% of the stock is currently owned by 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.