Gyroscope Capital Management Group LLC raised its stake in shares of AbbVie Inc (NYSE:ABBV) by 26,575.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,473 shares of the company’s stock after purchasing an additional 19,400 shares during the quarter. Gyroscope Capital Management Group LLC’s holdings in AbbVie were worth $1,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in the business. Legacy Capital Partners Inc. increased its holdings in shares of AbbVie by 3.4% during the first quarter. Legacy Capital Partners Inc. now owns 59,234 shares of the company’s stock worth $4,774,000 after buying an additional 1,955 shares in the last quarter. Centric Wealth Management increased its holdings in shares of AbbVie by 20.1% during the first quarter. Centric Wealth Management now owns 3,184 shares of the company’s stock worth $257,000 after buying an additional 532 shares in the last quarter. Manning & Napier Group LLC increased its holdings in shares of AbbVie by 28.3% during the first quarter. Manning & Napier Group LLC now owns 379,320 shares of the company’s stock worth $30,569,000 after buying an additional 83,583 shares in the last quarter. Adams Asset Advisors LLC increased its holdings in shares of AbbVie by 1.4% during the first quarter. Adams Asset Advisors LLC now owns 69,748 shares of the company’s stock worth $5,620,000 after buying an additional 959 shares in the last quarter. Finally, Country Club Trust Company n.a. increased its holdings in shares of AbbVie by 15.2% during the first quarter. Country Club Trust Company n.a. now owns 5,625 shares of the company’s stock worth $453,000 after buying an additional 743 shares in the last quarter. Institutional investors and hedge funds own 68.14% of the company’s stock.
Shares of AbbVie stock traded down $0.36 during midday trading on Friday, reaching $74.09. The company had a trading volume of 4,603,419 shares, compared to its average volume of 7,972,179. The company has a market capitalization of $108.71 billion, a price-to-earnings ratio of 9.37, a price-to-earnings-growth ratio of 1.50 and a beta of 0.99. The stock has a fifty day simple moving average of $70.30 and a 200 day simple moving average of $73.90. AbbVie Inc has a 1-year low of $62.66 and a 1-year high of $94.98.
The firm also recently announced a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $1.07 per share. This represents a yield of 6.4%. The ex-dividend date is Friday, October 11th. AbbVie’s dividend payout ratio is presently 54.11%.
In other AbbVie news, EVP Timothy J. Richmond sold 15,515 shares of AbbVie stock in a transaction on Friday, September 27th. The shares were sold at an average price of $75.02, for a total transaction of $1,163,935.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Laura J. Schumacher bought 25,000 shares of the stock in a transaction on Monday, September 16th. The shares were acquired at an average cost of $70.42 per share, with a total value of $1,760,500.00. Following the acquisition, the insider now directly owns 164,838 shares in the company, valued at approximately $11,607,891.96. The disclosure for this purchase can be found here. Insiders have acquired a total of 183,077 shares of company stock valued at $10,705,751 in the last ninety days. Company insiders own 0.08% of the company’s stock.
Several analysts have recently weighed in on the stock. UBS Group raised shares of AbbVie from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $85.00 to $79.00 in a report on Thursday, September 12th. Cowen set a $90.00 price target on shares of AbbVie and gave the company a “buy” rating in a report on Tuesday, September 24th. TheStreet lowered shares of AbbVie from a “b-” rating to a “c” rating in a report on Monday, August 26th. Piper Jaffray Companies raised their price target on shares of AbbVie from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Finally, ValuEngine raised shares of AbbVie from a “strong sell” rating to a “sell” rating in a report on Monday, September 30th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. AbbVie presently has an average rating of “Hold” and an average target price of $89.97.
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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