Vivaldi Capital Management LLC Boosts Position in AbbVie Inc (NYSE:ABBV)

Vivaldi Capital Management LLC boosted its stake in AbbVie Inc (NYSE:ABBV) by 7.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,953 shares of the company’s stock after buying an additional 1,140 shares during the period. Vivaldi Capital Management LLC’s holdings in AbbVie were worth $1,160,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ABBV. Weaver Consulting Group acquired a new position in AbbVie in the 1st quarter valued at about $25,000. Arbor Wealth Management LLC acquired a new position in shares of AbbVie during the second quarter worth about $28,000. Lowe Wealth Advisors LLC grew its position in shares of AbbVie by 206.7% during the second quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock worth $33,000 after buying an additional 310 shares in the last quarter. Horrell Capital Management Inc. acquired a new position in shares of AbbVie during the second quarter worth about $33,000. Finally, TD Capital Management LLC acquired a new position in shares of AbbVie during the second quarter worth about $33,000. Hedge funds and other institutional investors own 68.15% of the company’s stock.

ABBV traded up $0.99 on Friday, reaching $72.66. The company’s stock had a trading volume of 7,584,614 shares, compared to its average volume of 7,447,479. The stock has a 50 day moving average of $66.65 and a two-hundred day moving average of $74.50. The company has a market capitalization of $105.86 billion, a price-to-earnings ratio of 9.19, a P/E/G ratio of 1.70 and a beta of 0.95. AbbVie Inc has a fifty-two week low of $62.66 and a fifty-two week high of $96.60.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.21 by $0.05. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.09 billion. During the same period in the prior year, the company posted $2.00 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. On average, research analysts forecast that AbbVie Inc will post 8.9 EPS for the current year.

The company also recently disclosed a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $1.07 dividend. This represents a yield of 6.4%. The ex-dividend date of this dividend is Friday, October 11th. AbbVie’s dividend payout ratio is currently 54.11%.

In other news, Vice Chairman Laura J. Schumacher acquired 25,000 shares of AbbVie stock in a transaction on Monday, September 16th. The stock was bought at an average price of $70.42 per share, for a total transaction of $1,760,500.00. Following the completion of the purchase, the insider now owns 164,838 shares in the company, valued at $11,607,891.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nicholas Donoghoe acquired 7,525 shares of AbbVie stock in a transaction on Thursday, August 29th. The stock was purchased at an average price of $66.19 per share, with a total value of $498,079.75. Following the purchase, the senior vice president now owns 13,090 shares of the company’s stock, valued at approximately $866,427.10. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 184,977 shares of company stock valued at $12,387,121. 0.08% of the stock is owned by company insiders.

A number of equities analysts have recently commented on ABBV shares. UBS Group raised AbbVie from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $85.00 to $79.00 in a research report on Thursday, September 12th. Citigroup reissued a “hold” rating on shares of AbbVie in a research report on Wednesday, June 26th. Leerink Swann raised AbbVie to a “buy” rating in a research report on Tuesday, July 2nd. TheStreet downgraded AbbVie from a “b-” rating to a “c” rating in a research report on Monday, August 26th. Finally, Wolfe Research raised AbbVie from an “underperform” rating to a “peer perform” rating in a research report on Thursday, June 27th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $91.20.

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)