AbbVie Inc (ABBV) Shares Bought by Violich Capital Management Inc.

Violich Capital Management Inc. increased its holdings in shares of AbbVie Inc (NYSE:ABBV) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,563 shares of the company’s stock after buying an additional 3,091 shares during the quarter. AbbVie accounts for about 2.3% of Violich Capital Management Inc.’s portfolio, making the stock its 14th largest position. Violich Capital Management Inc.’s holdings in AbbVie were worth $8,581,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Formidable Asset Management LLC grew its stake in AbbVie by 0.3% during the 2nd quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock valued at $285,000 after purchasing an additional 10 shares during the last quarter. WealthTrust Axiom LLC grew its stake in AbbVie by 0.3% during the 2nd quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock valued at $312,000 after purchasing an additional 15 shares during the last quarter. TRUE Private Wealth Advisors grew its stake in AbbVie by 0.6% during the 2nd quarter. TRUE Private Wealth Advisors now owns 4,814 shares of the company’s stock valued at $349,000 after purchasing an additional 27 shares during the last quarter. Aspen Investment Management Inc grew its stake in AbbVie by 0.8% during the 2nd quarter. Aspen Investment Management Inc now owns 5,210 shares of the company’s stock valued at $378,000 after purchasing an additional 40 shares during the last quarter. Finally, Beaumont Financial Partners LLC grew its stake in AbbVie by 1.0% during the 2nd quarter. Beaumont Financial Partners LLC now owns 5,616 shares of the company’s stock valued at $407,000 after purchasing an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 69.49% of the company’s stock.

In other AbbVie news, insider Laura J. Schumacher sold 145,510 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $96.71, for a total transaction of $14,072,272.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Timothy J. Richmond sold 87,040 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $98.45, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 450,743 shares of company stock valued at $43,153,684 in the last ninety days. 0.23% of the stock is currently owned by insiders.

Several analysts have weighed in on ABBV shares. BidaskClub downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 25th. Piper Jaffray Companies boosted their price target on AbbVie to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. BMO Capital Markets set a $66.00 price objective on AbbVie and gave the company a “hold” rating in a report on Friday, October 27th. Leerink Swann decreased their price objective on AbbVie from $108.00 to $107.00 and set an “outperform” rating for the company in a report on Monday, October 30th. Finally, SunTrust Banks reissued a “buy” rating on shares of AbbVie in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $118.44.

AbbVie Inc (NYSE:ABBV) opened at $118.60 on Monday. The firm has a market capitalization of $188,333.59, a PE ratio of 36.05, a P/E/G ratio of 1.13 and a beta of 1.60. AbbVie Inc has a fifty-two week low of $61.17 and a fifty-two week high of $125.86. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.04. The company had revenue of $7.74 billion during the quarter, compared to analysts’ expectations of $7.53 billion. AbbVie had a return on equity of 152.78% and a net margin of 18.82%. AbbVie’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.20 EPS. analysts forecast that AbbVie Inc will post 7.46 earnings per share for the current fiscal year.

AbbVie declared that its Board of Directors has approved a share repurchase plan on Thursday, February 15th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be issued a $0.96 dividend. This is a boost from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.84 dividend on an annualized basis and a yield of 3.24%. AbbVie’s dividend payout ratio is presently 86.32%.

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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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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