Hemenway Trust Co LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 30,011 shares of the company’s stock after selling 84 shares during the period. Hemenway Trust Co LLC’s holdings in AbbVie were worth $1,858,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in AbbVie by 0.7% in the first quarter. Geode Capital Management LLC now owns 13,051,181 shares of the company’s stock valued at $743,963,000 after buying an additional 93,719 shares during the period. Ameriprise Financial Inc. boosted its stake in AbbVie by 52.4% in the second quarter. Ameriprise Financial Inc. now owns 10,364,784 shares of the company’s stock valued at $641,739,000 after buying an additional 3,562,980 shares during the period. Franklin Resources Inc. boosted its stake in AbbVie by 2.1% in the first quarter. Franklin Resources Inc. now owns 5,623,069 shares of the company’s stock valued at $321,188,000 after buying an additional 115,458 shares during the period. Orbis Allan Gray Ltd acquired a new stake in AbbVie during the first quarter valued at about $281,766,000. Finally, Swiss National Bank boosted its stake in AbbVie by 6.3% in the second quarter. Swiss National Bank now owns 4,516,229 shares of the company’s stock valued at $279,600,000 after buying an additional 269,100 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.
Shares of AbbVie Inc. (NYSE:ABBV) traded down 0.29% during mid-day trading on Friday, reaching $62.65. The company had a trading volume of 1,633,260 shares. The company has a market capitalization of $102.03 billion, a PE ratio of 18.07 and a beta of 1.50. AbbVie Inc. has a 52-week low of $45.45 and a 52-week high of $68.12. The company’s 50-day moving average price is $64.24 and its 200-day moving average price is $62.49.
AbbVie (NYSE:ABBV) last announced 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. The business 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%. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 earnings per share. On average, analysts forecast 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 given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Wednesday, October 12th. AbbVie’s dividend payout ratio is currently 65.71%.
ABBV has been the topic of several analyst reports. BMO Capital Markets cut AbbVie from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $70.00 to $66.00 in a report on Friday, June 10th. Goldman Sachs Group Inc. restated a “buy” rating and set a $78.00 price objective on shares of AbbVie in a report on Tuesday, September 27th. Vetr cut AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.75 target price on the stock. in a report on Wednesday, June 29th. Credit Suisse Group AG reiterated a “buy” rating on shares of AbbVie in a report on Sunday, July 10th. Finally, Jefferies Group reiterated a “buy” rating and issued a $90.00 target price on shares of AbbVie in a report on Wednesday. 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 assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $70.68.
In other news, insider Laura J. Schumacher sold 50,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 144,138 shares of the company’s stock, valued at $9,368,970. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.11% of the company’s stock.
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.