Park Avenue Securities LLC grew its position in shares of AbbVie Inc (NYSE:ABBV) by 25.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,337 shares of the company’s stock after purchasing an additional 3,127 shares during the quarter. Park Avenue Securities LLC’s holdings in AbbVie were worth $1,115,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Botty Investors LLC grew its position in shares of AbbVie by 13.7% during the 2nd quarter. Botty Investors LLC now owns 6,585 shares of the company’s stock worth $479,000 after buying an additional 795 shares during the period. Oak Asset Management LLC grew its position in shares of AbbVie by 2.8% during the 2nd quarter. Oak Asset Management LLC now owns 46,848 shares of the company’s stock worth $3,186,000 after buying an additional 1,258 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of AbbVie by 4.0% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 106,682 shares of the company’s stock worth $7,757,000 after buying an additional 4,075 shares during the period. Bridgeworth LLC grew its position in shares of AbbVie by 4.4% during the 2nd quarter. Bridgeworth LLC now owns 5,764 shares of the company’s stock worth $419,000 after buying an additional 241 shares during the period. Finally, Edge Capital Group LLC grew its position in shares of AbbVie by 5.3% during the 2nd quarter. Edge Capital Group LLC now owns 6,364 shares of the company’s stock worth $463,000 after buying an additional 320 shares during the period. Hedge funds and other institutional investors own 68.53% of the company’s stock.
NYSE ABBV traded down $0.69 during mid-day trading on Wednesday, hitting $64.08. The company’s stock had a trading volume of 362,364 shares, compared to its average volume of 10,947,081. The firm’s 50 day moving average price is $70.62. AbbVie Inc has a twelve month low of $64.29 and a twelve month high of $100.23. The stock has a market capitalization of $96.61 billion, a price-to-earnings ratio of 8.10, a price-to-earnings-growth ratio of 1.56 and a beta of 0.96.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 6.68%. The ex-dividend date of this dividend is Friday, July 12th. AbbVie’s payout ratio is currently 54.11%.
Several analysts have recently commented on ABBV shares. Credit Suisse Group set a $78.00 price objective on shares of AbbVie and gave the stock a “sell” rating in a research report on Friday, April 26th. Piper Jaffray Companies set a $80.00 price objective on shares of AbbVie and gave the stock a “hold” rating in a research report on Friday, July 26th. Leerink Swann raised shares of AbbVie to a “buy” rating in a research report on Tuesday, July 2nd. BMO Capital Markets raised shares of AbbVie from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $71.00 to $79.00 in a research report on Sunday, April 28th. Finally, Citigroup reaffirmed a “hold” rating on shares of AbbVie in a research report on Wednesday, June 26th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $92.05.
In other news, EVP William J. Chase acquired 30,400 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were purchased at an average cost of $67.30 per share, with a total value of $2,045,920.00. Following the acquisition, the executive vice president now directly owns 169,552 shares of the company’s stock, valued at $11,410,849.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Roxanne S. Austin acquired 11,500 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were purchased at an average cost of $67.50 per share, for a total transaction of $776,250.00. Following the completion of the acquisition, the director now directly owns 52,114 shares in the company, valued at $3,517,695. The disclosure for this purchase can be found here. In the last three months, insiders purchased 136,900 shares of company stock valued at $9,126,370. 0.08% of the stock is currently owned by insiders.
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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