OmniStar Financial Group Inc. boosted its position in shares of AbbVie Inc (NYSE:ABBV) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,656 shares of the company’s stock after buying an additional 1,042 shares during the period. AbbVie makes up about 2.2% of OmniStar Financial Group Inc.’s portfolio, making the stock its 8th biggest holding. OmniStar Financial Group Inc.’s holdings in AbbVie were worth $2,548,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Pure Financial Advisors Inc. raised its holdings in shares of AbbVie by 1.2% in the third quarter. Pure Financial Advisors Inc. now owns 11,846 shares of the company’s stock worth $897,000 after buying an additional 142 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its holdings in shares of AbbVie by 0.3% in the second quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 44,147 shares of the company’s stock worth $3,210,000 after buying an additional 147 shares during the period. Adirondack Trust Co. raised its holdings in shares of AbbVie by 1.2% in the third quarter. Adirondack Trust Co. now owns 12,569 shares of the company’s stock worth $952,000 after buying an additional 150 shares during the period. Weatherly Asset Management L. P. raised its holdings in shares of AbbVie by 1.8% in the second quarter. Weatherly Asset Management L. P. now owns 8,317 shares of the company’s stock worth $605,000 after buying an additional 151 shares during the period. Finally, Golden State Wealth Management LLC raised its holdings in shares of AbbVie by 4.2% in the second quarter. Golden State Wealth Management LLC now owns 3,833 shares of the company’s stock worth $278,000 after buying an additional 153 shares during the period. 68.14% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on ABBV shares. TheStreet downgraded AbbVie from a “b-” rating to a “c” rating in a report on Monday, August 26th. Wolfe Research upgraded AbbVie from an “underperform” rating to a “peer perform” rating in a report on Thursday, June 27th. Piper Jaffray Companies increased their price target on AbbVie from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Citigroup upgraded AbbVie from a “neutral” rating to a “buy” rating and increased their price target for the stock from $87.00 to $90.00 in a report on Thursday, September 26th. Finally, Cowen set a $90.00 price target on AbbVie and gave the stock a “buy” rating in a report on Tuesday, September 24th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $89.97.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 26th. The company reported $2.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.05. The firm had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.09 billion. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter last year, the firm earned $2.00 EPS. As a group, research analysts anticipate that AbbVie Inc will post 8.9 EPS for the current year.
The firm also recently disclosed a — dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $1.07 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a dividend yield of 6.4%. AbbVie’s payout ratio is 54.11%.
In other AbbVie news, major shareholder Istar Inc. acquired 40,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of $28.52 per share, with a total value of $1,140,800.00. Also, Director Roxanne S. Austin acquired 55,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was acquired at an average cost of $65.86 per share, with a total value of $3,622,300.00. Following the transaction, the director now directly owns 92,114 shares in the company, valued at $6,066,628.04. The disclosure for this purchase can be found here. Insiders bought a total of 183,077 shares of company stock valued at $10,705,751 in the last three months. Insiders own 0.08% of the company’s stock.
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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