Fisher Asset Management LLC lessened its stake in AbbVie Inc (NYSE:ABBV) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 683,274 shares of the company’s stock after selling 3,245 shares during the period. Fisher Asset Management LLC’s holdings in AbbVie were worth $60,716,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABBV. Community Bank N.A. raised its position in shares of AbbVie by 1.6% in the 1st quarter. Community Bank N.A. now owns 66,262 shares of the company’s stock worth $4,317,000 after acquiring an additional 1,015 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of AbbVie by 16.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 98,704 shares of the company’s stock worth $6,432,000 after acquiring an additional 14,194 shares in the last quarter. Checchi Capital Advisers LLC raised its position in shares of AbbVie by 11.6% in the 1st quarter. Checchi Capital Advisers LLC now owns 18,555 shares of the company’s stock worth $1,209,000 after acquiring an additional 1,924 shares in the last quarter. Davis R M Inc. raised its position in shares of AbbVie by 1.1% in the 1st quarter. Davis R M Inc. now owns 34,660 shares of the company’s stock worth $2,258,000 after acquiring an additional 393 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. raised its position in shares of AbbVie by 3.1% in the 1st quarter. Pinnacle Financial Partners Inc. now owns 77,732 shares of the company’s stock worth $5,065,000 after acquiring an additional 2,306 shares in the last quarter. 69.18% of the stock is owned by institutional investors.
In other news, SVP Timothy J. Richmond sold 87,040 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the transaction, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Henry O. Gosebruch sold 18,300 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $90.55, for a total value of $1,657,065.00. Following the transaction, the insider now directly owns 81,287 shares in the company, valued at $7,360,537.85. The disclosure for this sale can be found here. Insiders have sold a total of 494,676 shares of company stock worth $47,237,938 over the last three months. Insiders own 0.23% of the company’s stock.
Several research analysts have recently issued reports on ABBV shares. Evercore ISI reissued an “outperform” rating and issued a $100.00 target price (up previously from $95.00) on shares of AbbVie in a research report on Saturday, September 30th. Societe Generale upped their price target on AbbVie in a research note on Tuesday, November 21st. BMO Capital Markets set a $84.00 price target on AbbVie and gave the stock a “hold” rating in a research note on Thursday. Jefferies Group upped their price target on AbbVie from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. Finally, Barclays restated a “hold” rating and issued a $68.00 price target on shares of AbbVie in a research note on Thursday, September 28th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $100.94.
Shares of AbbVie Inc (ABBV) traded up $1.07 on Friday, reaching $100.34. The company’s stock had a trading volume of 4,370,600 shares, compared to its average volume of 4,460,000. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08. AbbVie Inc has a 1-year low of $59.27 and a 1-year high of $101.28. The stock has a market cap of $159,950.00, a P/E ratio of 24.35, a price-to-earnings-growth ratio of 1.18 and a beta of 1.53.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. During the same period last year, the business posted $1.21 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. equities analysts expect that AbbVie Inc will post 5.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.83%. This is a boost from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio is presently 68.93%.
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AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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