Westside Investment Management Inc. Makes New $305,000 Investment in AbbVie Inc (NYSE:ABBV)

Westside Investment Management Inc. purchased a new stake in AbbVie Inc (NYSE:ABBV) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,206 shares of the company’s stock, valued at approximately $305,000.

Several other large investors have also modified their holdings of ABBV. Northern Trust Corp lifted its stake in AbbVie by 1.1% during the fourth quarter. Northern Trust Corp now owns 21,029,665 shares of the company’s stock worth $1,938,725,000 after purchasing an additional 227,408 shares during the period. Geode Capital Management LLC lifted its stake in AbbVie by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 17,582,527 shares of the company’s stock worth $1,617,957,000 after purchasing an additional 880,288 shares during the period. Bank of New York Mellon Corp lifted its stake in AbbVie by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 15,921,433 shares of the company’s stock worth $1,467,797,000 after purchasing an additional 41,680 shares during the period. Norges Bank bought a new position in AbbVie during the fourth quarter worth about $1,300,469,000. Finally, FMR LLC lifted its stake in AbbVie by 56.5% during the first quarter. FMR LLC now owns 13,200,141 shares of the company’s stock worth $1,063,799,000 after purchasing an additional 4,765,946 shares during the period. 68.53% of the stock is currently owned by institutional investors.

In other AbbVie news, Director Roxanne S. Austin purchased 55,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was purchased at an average cost of $65.86 per share, for a total transaction of $3,622,300.00. Following the transaction, the director now owns 92,114 shares in the company, valued at approximately $6,066,628.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Roxanne S. Austin purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was acquired at an average price of $66.35 per share, with a total value of $663,500.00. Following the completion of the transaction, the director now owns 62,114 shares in the company, valued at approximately $4,121,263.90. The disclosure for this purchase can be found here. Insiders acquired a total of 136,900 shares of company stock valued at $9,126,370 in the last three months. Insiders own 0.08% of the company’s stock.

NYSE:ABBV traded down $0.12 on Monday, hitting $65.23. 6,024,695 shares of the company’s stock were exchanged, compared to its average volume of 11,007,136. The business has a 50-day simple moving average of $71.69. AbbVie Inc has a 52 week low of $65.03 and a 52 week high of $100.23. The stock has a market capitalization of $96.61 billion, a P/E ratio of 8.25, a P/E/G ratio of 1.56 and a beta of 0.96.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 26th. The company reported $2.26 EPS for the quarter, beating the Zacks’ consensus estimate of $2.21 by $0.05. AbbVie had a net margin of 12.62% and a negative return on equity of 198.18%. The business had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.09 billion. During the same quarter in the prior year, the business earned $2.00 EPS. AbbVie’s quarterly revenue was down .3% on a year-over-year basis. On average, analysts predict that AbbVie Inc will post 8.88 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 6.56%. The ex-dividend date is Friday, July 12th. AbbVie’s dividend payout ratio is currently 54.11%.

ABBV has been the subject of a number of analyst reports. Piper Jaffray Companies set a $80.00 price target on shares of AbbVie and gave the stock a “hold” rating in a research note on Friday, July 26th. Wolfe Research upgraded shares of AbbVie from an “underperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Credit Suisse Group set a $78.00 price target on shares of AbbVie and gave the stock a “sell” rating in a research note on Friday, April 26th. Goldman Sachs Group started coverage on shares of AbbVie in a research note on Tuesday, May 28th. They set a “neutral” rating and a $84.00 price target for the company. Finally, Citigroup reaffirmed a “hold” rating on shares of AbbVie in a report on Wednesday, June 26th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. AbbVie currently has an average rating of “Hold” and a consensus price target of $92.05.

AbbVie 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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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