Adirondack Trust Co. Boosts Stock Position in AbbVie Inc (NYSE:ABBV)

Adirondack Trust Co. grew its stake in shares of AbbVie Inc (NYSE:ABBV) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,569 shares of the company’s stock after buying an additional 150 shares during the period. Adirondack Trust Co.’s holdings in AbbVie were worth $952,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ABBV. Weaver Consulting Group bought a new position in shares of AbbVie during the 1st quarter valued at approximately $25,000. Arbor Wealth Management LLC purchased a new stake in shares of AbbVie in the 2nd quarter worth $28,000. Horrell Capital Management Inc. purchased a new stake in shares of AbbVie in the 2nd quarter worth $33,000. TD Capital Management LLC purchased a new stake in shares of AbbVie in the 2nd quarter worth $33,000. Finally, Lowe Wealth Advisors LLC lifted its holdings in shares of AbbVie by 206.7% in the 2nd quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock worth $33,000 after buying an additional 310 shares during the period. 68.14% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie stock traded down $0.23 during midday trading on Wednesday, reaching $73.30. The company’s stock had a trading volume of 5,785,122 shares, compared to its average volume of 8,000,455. The stock’s 50-day simple moving average is $70.14 and its 200-day simple moving average is $73.93. AbbVie Inc has a 52-week low of $62.66 and a 52-week high of $95.39. The stock has a market capitalization of $110.38 billion, a P/E ratio of 9.27, a PEG ratio of 1.52 and a beta of 0.99.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 26th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.05. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The company had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.09 billion. During the same period last year, the business posted $2.00 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. Equities research analysts predict that AbbVie Inc will post 8.9 earnings per share for the current year.

The firm also recently declared a — dividend, which will be paid on Friday, November 15th. Shareholders 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 (DPR) is presently 54.11%.

A number of equities research analysts recently weighed in on ABBV shares. ValuEngine upgraded AbbVie from a “strong sell” rating to a “sell” rating in a research note on Monday, September 30th. Citigroup upgraded AbbVie from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $87.00 to $90.00 in a research note on Thursday, September 26th. Svb Leerink upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a research note on Wednesday, June 26th. TheStreet cut AbbVie from a “b-” rating to a “c” rating in a research note on Monday, August 26th. Finally, Leerink Swann upgraded AbbVie to a “buy” rating in a research note on Tuesday, July 2nd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $89.97.

In other news, EVP Timothy J. Richmond sold 15,515 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $75.02, for a total value of $1,163,935.30. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Vice Chairman Laura J. Schumacher acquired 25,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was purchased at an average cost of $70.42 per share, for a total transaction of $1,760,500.00. Following the completion of the acquisition, the insider now directly owns 164,838 shares of the company’s stock, valued at approximately $11,607,891.96. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 183,077 shares of company stock valued at $10,705,751. 0.08% of the stock is currently owned by company insiders.

AbbVie Profile

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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