Townsend & Associates Inc acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,728 shares of the company’s stock, valued at approximately $687,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its position in shares of AbbVie by 71.7% in the fourth quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 240,142 shares of the company’s stock worth $23,621,000 after buying an additional 100,287 shares during the period. Commerzbank Aktiengesellschaft FI boosted its position in shares of AbbVie by 116.4% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 76,637 shares of the company’s stock worth $7,412,000 after buying an additional 41,227 shares during the period. Eqis Capital Management Inc. boosted its position in shares of AbbVie by 4.4% in the fourth quarter. Eqis Capital Management Inc. now owns 31,300 shares of the company’s stock worth $3,027,000 after buying an additional 1,317 shares during the period. FTB Advisors Inc. boosted its position in shares of AbbVie by 50.5% in the fourth quarter. FTB Advisors Inc. now owns 10,254 shares of the company’s stock worth $993,000 after buying an additional 3,441 shares during the period. Finally, Bingham Osborn & Scarborough LLC raised its holdings in shares of AbbVie by 48.4% during the fourth quarter. Bingham Osborn & Scarborough LLC now owns 31,275 shares of the company’s stock worth $3,025,000 after acquiring an additional 10,207 shares in the last quarter. 70.51% of the stock is owned by institutional investors and hedge funds.
AbbVie Inc. (NYSE ABBV) opened at $112.03 on Tuesday. AbbVie Inc. has a 1-year low of $63.12 and a 1-year high of $125.86. The company has a current ratio of 1.28, a quick ratio of 1.18 and a debt-to-equity ratio of 6.07. The firm has a market capitalization of $180,568.41, a PE ratio of 34.05, a price-to-earnings-growth ratio of 1.07 and a beta of 1.52.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.04. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The company had revenue of $7.74 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same period last year, the company earned $1.20 earnings per share. The business’s revenue was up 13.9% compared to the same quarter last year. equities research analysts anticipate that AbbVie Inc. will post 7.48 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be issued a dividend of $0.96 per share. This is a positive change from AbbVie’s previous quarterly dividend of $0.71. This represents a $3.84 annualized dividend and a yield of 3.43%. The ex-dividend date is Thursday, April 12th. AbbVie’s dividend payout ratio (DPR) is 86.32%.
AbbVie declared that its board has approved a share repurchase program on Thursday, February 15th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
Several brokerages recently issued reports on ABBV. ValuEngine upgraded AbbVie from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Leerink Swann set a $106.00 price objective on AbbVie and gave the stock a “buy” rating in a report on Tuesday, December 5th. Credit Suisse Group set a $135.00 price objective on AbbVie and gave the stock a “hold” rating in a report on Monday, January 29th. BMO Capital Markets reiterated a “sell” rating and set a $95.00 price objective on shares of AbbVie in a report on Thursday, February 15th. Finally, Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $120.96.
In other news, CFO William J. Chase sold 70,928 shares of AbbVie stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $117.18, for a total value of $8,311,343.04. Following the transaction, the chief financial officer now directly owns 203,391 shares in the company, valued at $23,833,357.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert A. Michael sold 992 shares of AbbVie stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $120.31, for a total value of $119,347.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 211,197 shares of company stock worth $24,585,575. Corporate insiders own 0.23% of the company’s stock.
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AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
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