Zevin Asset Management LLC boosted its stake in shares of AbbVie Inc (NYSE:ABBV) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,391 shares of the company’s stock after acquiring an additional 871 shares during the quarter. AbbVie comprises about 1.7% of Zevin Asset Management LLC’s investment portfolio, making the stock its 22nd biggest position. Zevin Asset Management LLC’s holdings in AbbVie were worth $5,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Arbor Wealth Management LLC bought a new position in shares of AbbVie during the second quarter valued at approximately $28,000. Horrell Capital Management Inc. bought a new position in AbbVie in the second quarter worth approximately $33,000. TD Capital Management LLC bought a new position in AbbVie in the second quarter worth approximately $33,000. Lowe Wealth Advisors LLC grew its stake in AbbVie by 206.7% in the second quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 310 shares in the last quarter. Finally, Financial Gravity Wealth Inc. grew its stake in AbbVie by 82.9% in the second quarter. Financial Gravity Wealth Inc. now owns 503 shares of the company’s stock worth $37,000 after purchasing an additional 228 shares in the last quarter. 68.38% of the stock is currently owned by institutional investors.
In other news, EVP Timothy J. Richmond sold 15,515 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $75.02, for a total transaction of $1,163,935.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Laura J. Schumacher acquired 25,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were acquired at an average price of $70.42 per share, with a total value of $1,760,500.00. Following the acquisition, the insider now owns 164,838 shares in the company, valued at approximately $11,607,891.96. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 88,077 shares of company stock valued at $4,401,551. 0.08% of the stock is owned by company insiders.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, November 1st. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.04. The company had revenue of $8.48 billion during the quarter, compared to analyst estimates of $8.37 billion. AbbVie had a negative return on equity of 155.71% and a net margin of 9.90%. AbbVie’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.14 earnings per share. As a group, equities research analysts predict that AbbVie Inc will post 8.93 EPS for the current fiscal year.
The business 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. The ex-dividend date of this dividend is Friday, October 11th. This represents a yield of 6.4%. AbbVie’s dividend payout ratio is currently 54.11%.
Several research analysts recently issued reports on the company. Piper Jaffray Companies increased their price objective on AbbVie from $81.00 to $90.00 in a research note on Friday, November 1st. UBS Group raised 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 research note on Thursday, September 12th. ValuEngine raised AbbVie from a “strong sell” rating to a “sell” rating in a research note on Monday, September 30th. TheStreet cut AbbVie from a “b-” rating to a “c” rating in a research note on Monday, August 26th. Finally, Cowen set a $90.00 price objective on AbbVie and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $84.88.
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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