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%.
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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