UNIVEST FINANCIAL Corp reduced its stake in shares of AbbVie Inc (NYSE:ABBV) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 42,370 shares of the company’s stock after selling 416 shares during the quarter. AbbVie accounts for approximately 1.4% of UNIVEST FINANCIAL Corp’s holdings, making the stock its 26th largest holding. UNIVEST FINANCIAL Corp’s holdings in AbbVie were worth $4,160,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Efficient Wealth Management LLC purchased a new stake in shares of AbbVie during the 1st quarter valued at about $27,000. Lion Street Advisors LLC purchased a new stake in shares of AbbVie during the 1st quarter valued at about $29,000. Americana Partners LLC purchased a new stake in shares of AbbVie during the 4th quarter valued at about $32,000. Virtus ETF Advisers LLC purchased a new stake in shares of AbbVie during the 4th quarter valued at about $33,000. Finally, Marquette Asset Management LLC raised its holdings in shares of AbbVie by 200.0% during the 1st quarter. Marquette Asset Management LLC now owns 450 shares of the company’s stock valued at $34,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 72.44% of the company’s stock.
In related news, SVP Jeffrey Ryan Stewart sold 23,024 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $90.00, for a total transaction of $2,072,160.00. Following the completion of the transaction, the senior vice president now owns 52,760 shares in the company, valued at approximately $4,748,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Carlos Alban sold 53,325 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $100.00, for a total value of $5,332,500.00. Following the transaction, the insider now owns 137,899 shares of the company’s stock, valued at approximately $13,789,900. The disclosure for this sale can be found here. Insiders have sold a total of 95,794 shares of company stock valued at $9,057,485 in the last 90 days. Insiders own 0.09% of the company’s stock.
Several brokerages recently commented on ABBV. Bank of America began coverage on AbbVie in a report on Monday, May 18th. They set a “neutral” rating and a $95.00 target price on the stock. ValuEngine downgraded AbbVie from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 27th. Piper Sandler lifted their price objective on AbbVie from $97.00 to $110.00 in a report on Wednesday, June 10th. Wolfe Research upgraded AbbVie from a “peer perform” rating to an “outperform” rating in a report on Tuesday, June 9th. Finally, JPMorgan Chase & Co. upgraded AbbVie from a “neutral” rating to an “overweight” rating and set a $105.00 price objective on the stock in a report on Tuesday, May 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $106.80.
Shares of ABBV traded down $0.79 during mid-day trading on Thursday, hitting $98.49. The stock had a trading volume of 50,274 shares, compared to its average volume of 7,589,935. The company has a market cap of $146.71 billion, a PE ratio of 17.57, a PEG ratio of 2.13 and a beta of 0.86. The company’s fifty day simple moving average is $94.62 and its two-hundred day simple moving average is $87.37. AbbVie Inc has a fifty-two week low of $62.55 and a fifty-two week high of $100.69.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, May 1st. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.25 by $0.17. The company had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.31 billion. AbbVie had a negative return on equity of 169.80% and a net margin of 24.77%. The business’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.14 EPS. On average, equities analysts anticipate that AbbVie Inc will post 10.54 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be given a dividend of $1.18 per share. The ex-dividend date of this dividend is Tuesday, July 14th. This represents a $4.72 dividend on an annualized basis and a yield of 4.79%. AbbVie’s dividend payout ratio is currently 52.80%.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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