OmniStar Financial Group Inc. boosted its holdings in AbbVie Inc (NYSE:ABBV) by 3.2% during the third quarter, HoldingsChannel reports. The fund owned 33,656 shares of the company’s stock after buying an additional 1,042 shares during the period. AbbVie comprises 2.2% of OmniStar Financial Group Inc.’s holdings, making the stock its 8th biggest position. 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 and hedge funds have also added to or reduced their stakes in the company. Legacy Capital Partners Inc. boosted its holdings in shares of AbbVie by 3.4% during the 1st quarter. Legacy Capital Partners Inc. now owns 59,234 shares of the company’s stock worth $4,774,000 after purchasing an additional 1,955 shares during the last quarter. Centric Wealth Management boosted its holdings in shares of AbbVie by 20.1% during the 1st quarter. Centric Wealth Management now owns 3,184 shares of the company’s stock worth $257,000 after purchasing an additional 532 shares during the last quarter. Manning & Napier Group LLC boosted its holdings in shares of AbbVie by 28.3% during the 1st quarter. Manning & Napier Group LLC now owns 379,320 shares of the company’s stock worth $30,569,000 after purchasing an additional 83,583 shares during the last quarter. Adams Asset Advisors LLC boosted its holdings in shares of AbbVie by 1.4% during the 1st quarter. Adams Asset Advisors LLC now owns 69,748 shares of the company’s stock worth $5,620,000 after purchasing an additional 959 shares during the last quarter. Finally, Country Club Trust Company n.a. boosted its holdings in shares of AbbVie by 15.2% during the 1st quarter. Country Club Trust Company n.a. now owns 5,625 shares of the company’s stock worth $453,000 after purchasing an additional 743 shares during the last quarter. Hedge funds and other institutional investors own 68.14% of the company’s stock.
In other news, EVP Timothy J. Richmond sold 15,515 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Roxanne S. Austin acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were bought at an average cost of $66.35 per share, for a total transaction of $663,500.00. Following the transaction, the director now directly owns 62,114 shares of the company’s stock, valued at approximately $4,121,263.90. The disclosure for this purchase can be found here. In the last three months, insiders acquired 183,077 shares of company stock worth $10,705,751. 0.08% of the stock is owned by corporate insiders.
NYSE ABBV traded down $0.82 on Friday, reaching $73.63. The stock had a trading volume of 7,170,183 shares, compared to its average volume of 7,972,179. The firm has a market capitalization of $108.71 billion, a price-to-earnings ratio of 9.31, a P/E/G ratio of 1.50 and a beta of 0.99. AbbVie Inc has a 12-month low of $62.66 and a 12-month high of $94.98. The stock has a fifty day moving average price of $70.30 and a two-hundred day moving average price of $73.90.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.05. The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.09 billion. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.00 earnings per share. On average, sell-side analysts expect that AbbVie Inc will post 8.9 earnings per share for the current year.
The company also recently announced a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $1.07 dividend. This represents a yield of 6.4%. The ex-dividend date is Friday, October 11th. AbbVie’s payout ratio is 54.11%.
ABBV has been the topic of several recent research reports. ValuEngine upgraded AbbVie from a “strong sell” rating to a “sell” rating in a report on Monday, September 30th. Piper Jaffray Companies upped their price objective on AbbVie from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Wolfe Research upgraded AbbVie from an “underperform” rating to a “peer perform” rating in a report on Thursday, June 27th. Leerink Swann upgraded AbbVie to a “buy” rating in a report on Tuesday, July 2nd. Finally, TheStreet cut AbbVie from a “b-” rating to a “c” rating in a report on Monday, August 26th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus 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.
Featured Story: Federal Reserve
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc (NYSE:ABBV).
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.