Sowell Financial Services LLC decreased its position in AbbVie Inc. (NYSE:ABBV) by 6.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 47,022 shares of the company’s stock after selling 3,373 shares during the period. AbbVie comprises approximately 1.2% of Sowell Financial Services LLC’s portfolio, making the stock its 21st biggest holding. Sowell Financial Services LLC’s holdings in AbbVie were worth $4,881,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Capital Research Global Investors boosted its stake in shares of AbbVie by 1.2% during the second quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock valued at $12,926,708,000 after acquiring an additional 2,130,919 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of AbbVie by 3.3% during the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after acquiring an additional 3,706,941 shares during the last quarter. BlackRock Inc. boosted its stake in shares of AbbVie by 2.0% during the second quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock valued at $6,821,375,000 after acquiring an additional 1,864,418 shares during the last quarter. Orbis Allan Gray Ltd boosted its stake in shares of AbbVie by 35.7% during the second quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after acquiring an additional 3,340,038 shares during the last quarter. Finally, Woodford Investment Management Ltd boosted its stake in shares of AbbVie by 8.6% during the second quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock valued at $859,589,000 after acquiring an additional 937,500 shares during the last quarter. 70.51% of the stock is currently owned by institutional investors.
A number of analysts recently commented on ABBV shares. BMO Capital Markets lowered AbbVie from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $125.86 to $84.00 in a research note on Monday, January 29th. They noted that the move was a valuation call. Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Credit Suisse Group set a $98.00 price objective on AbbVie and gave the company a “hold” rating in a research note on Monday, January 22nd. Piper Jaffray Companies reaffirmed a “buy” rating on shares of AbbVie in a research note on Tuesday, January 2nd. Finally, SunTrust Banks increased their target price on AbbVie to $157.00 and gave the stock an “average” rating in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $120.96.
AbbVie Inc. (NYSE ABBV) opened at $98.10 on Friday. AbbVie Inc. has a 12-month low of $63.12 and a 12-month high of $125.86. The firm has a market capitalization of $178,567.56, a PE ratio of 29.82, a P/E/G ratio of 1.06 and a beta of 1.52. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.18 and a current ratio of 1.28.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 26th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.04. The company had revenue of $7.74 billion for the quarter, compared to the consensus estimate of $7.53 billion. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the business posted $1.20 EPS. analysts predict that AbbVie Inc. will post 7.48 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.91%. This is an increase from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend 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 permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, VP Robert A. Michael sold 4,294 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $119.43, for a total value of $512,832.42. Following the transaction, the vice president now directly owns 11,170 shares in the company, valued at approximately $1,334,033.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Robert A. Michael sold 992 shares of the firm’s 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 sold 211,197 shares of company stock worth $24,585,575. Company insiders own 0.23% of the company’s stock.
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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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