Trust Co. of Vermont Has $14.73 Million Stock Holdings in AbbVie Inc (NYSE:ABBV)

Trust Co. of Vermont lifted its holdings in shares of AbbVie Inc (NYSE:ABBV) by 0.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 202,614 shares of the company’s stock after buying an additional 277 shares during the period. AbbVie comprises 1.2% of Trust Co. of Vermont’s holdings, making the stock its 19th largest position. Trust Co. of Vermont’s holdings in AbbVie were worth $14,734,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Horseman Capital Management Ltd raised its holdings in shares of AbbVie by 45.5% in the 2nd quarter. Horseman Capital Management Ltd now owns 16,000 shares of the company’s stock valued at $1,164,000 after purchasing an additional 5,000 shares during the period. Cedar Wealth Management LLC bought a new stake in shares of AbbVie in the 2nd quarter valued at about $44,000. Trust Co. of Oklahoma raised its holdings in shares of AbbVie by 2.9% in the 1st quarter. Trust Co. of Oklahoma now owns 6,710 shares of the company’s stock valued at $541,000 after purchasing an additional 190 shares during the period. Retirement Systems of Alabama raised its holdings in shares of AbbVie by 13.0% in the 2nd quarter. Retirement Systems of Alabama now owns 1,319,034 shares of the company’s stock valued at $95,920,000 after purchasing an additional 151,470 shares during the period. Finally, First National Bank of Mount Dora Trust Investment Services raised its holdings in shares of AbbVie by 1.7% in the 2nd quarter. First National Bank of Mount Dora Trust Investment Services now owns 58,547 shares of the company’s stock valued at $4,257,000 after purchasing an additional 995 shares during the period. Institutional investors own 68.53% of the company’s stock.

In other AbbVie news, Director Roxanne S. Austin bought 55,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were purchased at an average price of $65.86 per share, for a total transaction of $3,622,300.00. Following the transaction, the director now directly 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 can be accessed through the SEC website. Also, EVP William J. Chase bought 30,400 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were acquired at an average price of $67.30 per share, for a total transaction of $2,045,920.00. Following the transaction, the executive vice president now owns 169,552 shares in the company, valued at $11,410,849.60. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 136,900 shares of company stock worth $9,126,370. Company insiders own 0.08% of the company’s stock.

Several research analysts have weighed in on the stock. Goldman Sachs Group assumed coverage on shares of AbbVie in a report on Tuesday, May 28th. They issued a “neutral” rating and a $84.00 price target on the stock. BMO Capital Markets raised shares of AbbVie from an “underperform” rating to a “market perform” rating and increased their price target for the company from $71.00 to $79.00 in a report on Sunday, April 28th. Citigroup reissued a “hold” rating on shares of AbbVie in a report on Wednesday, June 26th. Svb Leerink raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price target on the stock in a report on Wednesday, June 26th. Finally, Piper Jaffray Companies set a $80.00 price target on shares of AbbVie and gave the company a “hold” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. AbbVie has an average rating of “Hold” and an average price target of $92.05.

AbbVie stock traded down $0.72 during trading hours on Wednesday, hitting $64.05. The company had a trading volume of 375,148 shares, compared to its average volume of 10,947,081. The stock has a market capitalization of $96.61 billion, a price-to-earnings ratio of 8.11, a PEG ratio of 1.56 and a beta of 0.96. AbbVie Inc has a one year low of $64.29 and a one year high of $100.23. The business’s 50-day moving average is $70.62.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 26th. The company reported $2.26 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.09 billion. During the same period in the prior year, the firm earned $2.00 EPS. The business’s revenue was down .3% on a year-over-year basis. As a group, equities research analysts forecast that AbbVie Inc will post 8.88 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a dividend of $1.07 per share. The ex-dividend date is Friday, July 12th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 6.68%. AbbVie’s payout ratio is presently 54.11%.

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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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