Community Bank N.A. Raises Stake in AbbVie Inc (NYSE:ABBV)

Community Bank N.A. raised its stake in AbbVie Inc (NYSE:ABBV) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,600 shares of the company’s stock after buying an additional 435 shares during the quarter. Community Bank N.A.’s holdings in AbbVie were worth $4,740,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ABBV. Bath Savings Trust Co raised its position in shares of AbbVie by 23.7% during the second quarter. Bath Savings Trust Co now owns 9,198 shares of the company’s stock valued at $669,000 after buying an additional 1,760 shares during the last quarter. Cox Capital Mgt LLC grew its stake in shares of AbbVie by 49.1% during the second quarter. Cox Capital Mgt LLC now owns 33,178 shares of the company’s stock worth $2,413,000 after acquiring an additional 10,921 shares during the last quarter. Thomasville National Bank grew its stake in shares of AbbVie by 2.5% during the second quarter. Thomasville National Bank now owns 45,013 shares of the company’s stock worth $3,273,000 after acquiring an additional 1,118 shares during the last quarter. Park National Corp OH grew its stake in shares of AbbVie by 1.8% during the second quarter. Park National Corp OH now owns 305,685 shares of the company’s stock worth $22,229,000 after acquiring an additional 5,472 shares during the last quarter. Finally, Pensionfund DSM Netherlands purchased a new stake in shares of AbbVie during the second quarter worth about $4,080,000. Institutional investors own 68.22% of the company’s stock.

In other news, Vice Chairman Laura J. Schumacher acquired 25,000 shares of AbbVie stock in a transaction that occurred on Monday, September 16th. The stock was purchased at an average cost of $70.42 per share, with a total value of $1,760,500.00. Following the purchase, the insider now owns 164,838 shares in the company, valued at $11,607,891.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Istar Inc. acquired 40,000 shares of AbbVie stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average cost of $28.52 per share, with a total value of $1,140,800.00. Over the last three months, insiders purchased 183,077 shares of company stock valued at $10,705,751. 0.08% of the stock is owned by corporate insiders.

A number of equities research analysts have recently weighed in on the company. Cowen set a $90.00 price target on AbbVie and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Leerink Swann upgraded AbbVie to a “buy” rating in a research note on Tuesday, July 2nd. Piper Jaffray Companies boosted their price target on AbbVie from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. TheStreet lowered AbbVie from a “b-” rating to a “c” rating in a research note on Monday, August 26th. Finally, ValuEngine upgraded AbbVie from a “strong sell” rating to a “sell” rating in a research note on Monday, September 30th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. AbbVie currently has an average rating of “Hold” and a consensus target price of $86.51.

AbbVie stock opened at $76.80 on Friday. AbbVie Inc has a 12 month low of $62.66 and a 12 month high of $94.98. The stock’s 50 day simple moving average is $72.96 and its two-hundred day simple moving average is $73.53. The firm has a market cap of $114.95 billion, a PE ratio of 9.71, a P/E/G ratio of 1.58 and a beta of 0.99.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 26th. The company reported $2.26 earnings per share for the quarter, topping the Thomson Reuters’ 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 business 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 EPS. The business’s quarterly revenue was down .3% on a year-over-year basis. As a group, sell-side analysts forecast that AbbVie Inc will post 8.93 earnings per share for the current fiscal year.

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

About AbbVie

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)

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