Employers Holdings Inc. bought a new position in shares of AbbVie Inc (NYSE:ABBV) during the second quarter, HoldingsChannel.com reports. The firm bought 31,410 shares of the company’s stock, valued at approximately $2,284,000. AbbVie makes up about 1.3% of Employers Holdings Inc.’s portfolio, making the stock its 17th biggest position.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Lavaca Capital LLC lifted its holdings in shares of AbbVie by 69.2% during the 2nd quarter. Lavaca Capital LLC now owns 49,404 shares of the company’s stock valued at $3,593,000 after purchasing an additional 20,213 shares in the last quarter. Horseman Capital Management Ltd raised its position in 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 buying an additional 5,000 shares during the last quarter. Ironwood Investment Counsel LLC raised its position in AbbVie by 7.9% in the 2nd quarter. Ironwood Investment Counsel LLC now owns 9,171 shares of the company’s stock valued at $666,000 after buying an additional 675 shares during the last quarter. Cedar Wealth Management LLC acquired a new stake in AbbVie in the 2nd quarter valued at approximately $44,000. Finally, Ballentine Partners LLC raised its position in AbbVie by 52.1% in the 2nd quarter. Ballentine Partners LLC now owns 12,168 shares of the company’s stock valued at $886,000 after buying an additional 4,169 shares during the last quarter. Hedge funds and other institutional investors own 68.15% of the company’s stock.
Shares of ABBV stock traded up $1.77 during trading on Friday, reaching $64.75. 1,787,307 shares of the company’s stock were exchanged, compared to its average volume of 10,092,156. The stock has a market capitalization of $96.12 billion, a PE ratio of 8.19, a PEG ratio of 1.55 and a beta of 0.96. AbbVie Inc has a twelve month low of $62.66 and a twelve month high of $100.23. The firm’s fifty day moving average price is $68.63 and its 200-day moving average price is $76.58.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 6.61%. The ex-dividend date was Friday, July 12th. AbbVie’s payout ratio is presently 54.11%.
A number of equities research analysts recently issued reports on the company. Citigroup reissued a “hold” rating on shares of AbbVie in a research report on Wednesday, June 26th. Wolfe Research raised AbbVie from an “underperform” rating to a “peer perform” rating in a research report on Thursday, June 27th. Piper Jaffray Companies set a $80.00 target price on AbbVie and gave the company a “hold” rating in a research report on Friday, July 26th. BMO Capital Markets raised AbbVie from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $71.00 to $79.00 in a research report on Sunday, April 28th. Finally, Credit Suisse Group set a $78.00 target price on AbbVie and gave the company a “sell” rating in a research report on Friday, April 26th. Three research 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’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $92.05.
In other AbbVie news, Director Roxanne S. Austin bought 11,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were acquired at an average cost of $67.50 per share, with a total value of $776,250.00. Following the acquisition, the director now owns 52,114 shares of the company’s stock, valued at $3,517,695. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roxanne S. Austin bought 55,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average cost of $65.86 per share, for a total transaction of $3,622,300.00. Following the completion of the acquisition, the director now directly owns 92,114 shares in the company, valued at approximately $6,066,628.04. The disclosure for this purchase can be found here. Insiders have purchased a total of 136,900 shares of company stock worth $9,126,370 over the last three months. 0.08% of the stock is owned by insiders.
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.
Featured Story: Stochastic Momentum Index (SMI)
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc (NYSE:ABBV).
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.