United Capital Financial Advisers LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 522,179 shares of the company’s stock after buying an additional 13,104 shares during the period. United Capital Financial Advisers LLC’s holdings in AbbVie were worth $58,818,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Tudor Investment Corp Et Al purchased a new stake in shares of AbbVie in the 1st quarter worth about $1,835,000. Schroder Investment Management Group increased its stake in shares of AbbVie by 6.0% in the 1st quarter. Schroder Investment Management Group now owns 1,826,123 shares of the company’s stock worth $197,623,000 after acquiring an additional 103,972 shares in the last quarter. CLARET ASSET MANAGEMENT Corp increased its stake in shares of AbbVie by 7.1% in the 2nd quarter. CLARET ASSET MANAGEMENT Corp now owns 157,384 shares of the company’s stock worth $17,728,000 after acquiring an additional 10,455 shares in the last quarter. Crawford Investment Counsel Inc. increased its stake in shares of AbbVie by 5.6% in the 1st quarter. Crawford Investment Counsel Inc. now owns 1,121,058 shares of the company’s stock worth $121,321,000 after acquiring an additional 59,078 shares in the last quarter. Finally, MML Investors Services LLC increased its stake in shares of AbbVie by 1.7% in the 1st quarter. MML Investors Services LLC now owns 309,313 shares of the company’s stock worth $33,474,000 after acquiring an additional 5,121 shares in the last quarter. 65.82% of the stock is owned by institutional investors and hedge funds.
A number of analysts have weighed in on the stock. Daiwa Capital Markets assumed coverage on shares of AbbVie in a research note on Friday, July 2nd. They set an “outperform” rating for the company. Barclays raised their price objective on shares of AbbVie from $105.00 to $112.00 and gave the company an “equal weight” rating in a research note on Monday, August 2nd. Argus raised their price objective on shares of AbbVie from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 5th. Morgan Stanley reiterated a “buy” rating and issued a $116.00 price target on shares of AbbVie in a research note on Friday, August 20th. Finally, Cowen lifted their price target on shares of AbbVie from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, August 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $125.29.
NYSE:ABBV traded up $0.21 during mid-day trading on Thursday, reaching $108.74. The company’s stock had a trading volume of 229,167 shares, compared to its average volume of 7,008,608. The firm has a market capitalization of $192.16 billion, a PE ratio of 29.30, a price-to-earnings-growth ratio of 2.01 and a beta of 0.82. The stock has a fifty day moving average of $112.16 and a 200-day moving average of $113.04. AbbVie Inc. has a 1 year low of $79.11 and a 1 year high of $121.53. The company has a quick ratio of 0.79, a current ratio of 0.91 and a debt-to-equity ratio of 5.89.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 29th. The company reported $3.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.09 by $0.02. AbbVie had a net margin of 12.40% and a return on equity of 154.24%. The company had revenue of $13.96 billion for the quarter, compared to the consensus estimate of $13.64 billion. During the same quarter in the prior year, the company earned $2.34 EPS. AbbVie’s quarterly revenue was up 33.9% on a year-over-year basis. On average, analysts expect that AbbVie Inc. will post 12.64 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Shareholders of record on Friday, October 15th will be issued a $1.30 dividend. The ex-dividend date is Thursday, October 14th. This represents a $5.20 dividend on an annualized basis and a yield of 4.78%. AbbVie’s payout ratio is currently 49.24%.
AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.
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