Oakbrook Investments LLC Raises Position in AbbVie Inc (NYSE:ABBV)
Oakbrook Investments LLC grew its holdings in shares of AbbVie Inc (NYSE:ABBV) by 8.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 266,107 shares of the company’s stock after purchasing an additional 20,650 shares during the quarter. AbbVie makes up about 1.2% of Oakbrook Investments LLC’s investment portfolio, making the stock its 23rd biggest position. Oakbrook Investments LLC’s holdings in AbbVie were worth $19,351,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. BB&T Securities LLC lifted its position in AbbVie by 11.1% during the fourth quarter. BB&T Securities LLC now owns 768,870 shares of the company’s stock valued at $70,881,000 after buying an additional 76,644 shares during the period. Hochman Cole Investment Advisors Inc. lifted its position in AbbVie by 1.0% during the fourth quarter. Hochman Cole Investment Advisors Inc. now owns 36,568 shares of the company’s stock valued at $3,371,000 after buying an additional 351 shares during the period. Spinnaker Trust lifted its position in AbbVie by 123.6% during the fourth quarter. Spinnaker Trust now owns 15,637 shares of the company’s stock valued at $1,441,000 after buying an additional 8,645 shares during the period. Financial Gravity Companies Inc. purchased a new position in AbbVie during the fourth quarter valued at $396,000. Finally, Regal Investment Advisors LLC lifted its position in AbbVie by 5.3% during the fourth quarter. Regal Investment Advisors LLC now owns 89,304 shares of the company’s stock valued at $8,233,000 after buying an additional 4,521 shares during the period. 68.36% of the stock is currently owned by institutional investors.
In other AbbVie news, EVP William J. Chase acquired 30,400 shares of AbbVie stock in a transaction that occurred on Wednesday, June 26th. The stock was bought at an average cost of $67.30 per share, for a total transaction of $2,045,920.00. Following the acquisition, the executive vice president now owns 169,552 shares of the company’s stock, valued at $11,410,849.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roxanne S. Austin acquired 11,500 shares of AbbVie stock in a transaction that occurred on Wednesday, June 26th. The stock was acquired at an average price of $67.50 per share, with a total value of $776,250.00. Following the completion of the acquisition, the director now directly owns 52,114 shares in the company, valued at approximately $3,517,695. The disclosure for this purchase can be found here. 0.08% of the stock is currently owned by company insiders.
Shares of NYSE:ABBV traded up $1.10 on Friday, hitting $67.76. 12,257,608 shares of the company traded hands, compared to its average volume of 11,250,079. AbbVie Inc has a 52 week low of $65.06 and a 52 week high of $100.23. The business has a 50 day moving average price of $73.24. The company has a market capitalization of $100.17 billion, a P/E ratio of 8.57, a PEG ratio of 1.36 and a beta of 0.98.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 26th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.05. AbbVie had a negative return on equity of 221.09% and a net margin of 16.42%. The firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.09 billion. During the same period last year, the company earned $2.00 earnings per share. The company’s revenue was down .3% on a year-over-year basis. Analysts predict that AbbVie Inc will post 8.82 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a $1.07 dividend. The ex-dividend date is Friday, July 12th. This represents a $4.28 annualized dividend and a yield of 6.32%. AbbVie’s payout ratio is 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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