Burns J W & Co. Inc. NY raised its position in shares of AbbVie Inc (NYSE:ABBV) by 18.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,236 shares of the company’s stock after purchasing an additional 2,998 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in AbbVie were worth $1,860,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Hudock Capital Group LLC grew its position in shares of AbbVie by 109.5% in the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after purchasing an additional 806 shares in the last quarter. Ffcm LLC grew its position in AbbVie by 167.2% in the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after acquiring an additional 963 shares during the period. Bristlecone Advisors LLC purchased a new position in AbbVie in the third quarter worth approximately $113,000. BDO Wealth Advisors LLC purchased a new position in AbbVie in the second quarter worth approximately $115,000. Finally, Hershey Trust Co. purchased a new position in AbbVie in the third quarter worth approximately $139,000. 70.63% of the stock is owned by institutional investors and hedge funds.
Shares of AbbVie Inc (NYSE ABBV) traded down $0.69 during trading on Wednesday, hitting $119.06. 2,454,282 shares of the stock were exchanged, compared to its average volume of 6,626,261. The company has a current ratio of 1.28, a quick ratio of 1.18 and a debt-to-equity ratio of 6.07. AbbVie Inc has a 1-year low of $63.12 and a 1-year high of $125.86. The firm has a market cap of $188,910.00, a price-to-earnings ratio of 21.44, a PEG ratio of 1.12 and a beta of 1.52.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.04. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The business had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. equities analysts expect that AbbVie Inc will post 7.48 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be given a $0.96 dividend. This is a boost from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date is Thursday, April 12th. This represents a $3.84 annualized dividend and a yield of 3.23%. AbbVie’s dividend payout ratio is 51.26%.
AbbVie declared that its board has initiated a stock repurchase plan on Thursday, February 15th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
A number of research analysts have commented on the company. BMO Capital Markets set a $95.00 price target on AbbVie and gave the stock a “sell” rating in a research note on Tuesday. Vetr upgraded AbbVie from a “buy” rating to a “strong-buy” rating and set a $128.42 price target on the stock in a research note on Tuesday, March 6th. Jefferies Group set a $145.00 price objective on AbbVie and gave the stock a “buy” rating in a report on Monday, February 26th. Evercore ISI reissued a “buy” rating and set a $144.00 price target on shares of AbbVie in a report on Monday, January 29th. Finally, Leerink Swann set a $106.00 price objective on shares of AbbVie and gave the company a “buy” rating in a research report on Tuesday, December 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $120.96.
In other news, insider Laura J. Schumacher sold 145,510 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $96.71, for a total value of $14,072,272.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert A. Michael sold 992 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $120.31, for a total transaction of $119,347.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 443,747 shares of company stock valued at $47,226,935. 0.23% of the stock is owned by insiders.
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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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