Keeler Thomas Management LLC Invests $627,000 in AbbVie Inc. (ABBV)

Keeler Thomas Management LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,488 shares of the company’s stock, valued at approximately $627,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of AbbVie by 24.5% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 740,392 shares of the company’s stock valued at $53,686,000 after buying an additional 145,691 shares in the last quarter. Spectrum Management Group Inc. lifted its position in shares of AbbVie by 11.5% during the 2nd quarter. Spectrum Management Group Inc. now owns 28,100 shares of the company’s stock valued at $2,038,000 after buying an additional 2,892 shares in the last quarter. AGF Investments America Inc. lifted its position in shares of AbbVie by 3.6% during the 2nd quarter. AGF Investments America Inc. now owns 29,064 shares of the company’s stock valued at $2,107,000 after buying an additional 1,017 shares in the last quarter. Ffcm LLC lifted its position in shares of AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after buying an additional 963 shares in the last quarter. Finally, Fiduciary Trust Co. lifted its position in shares of AbbVie by 3.2% during the 2nd quarter. Fiduciary Trust Co. now owns 321,953 shares of the company’s stock valued at $23,345,000 after buying an additional 10,113 shares in the last quarter. 70.57% of the stock is currently owned by institutional investors and hedge funds.

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In other AbbVie news, CFO William J. Chase sold 70,928 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 203,391 shares of the company’s stock, valued at approximately $23,833,357.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert A. Michael sold 992 shares of the firm’s stock in a transaction on 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. Insiders sold a total of 211,197 shares of company stock valued at $24,585,575 over the last ninety days. Corporate insiders own 0.07% of the company’s stock.

A number of research analysts have recently issued reports on ABBV shares. BMO Capital Markets decreased their target price on AbbVie from $95.00 to $80.00 and set an “underperform” rating on the stock in a research report on Friday, March 23rd. Jefferies Group set a $125.00 price objective on AbbVie and gave the company a “buy” rating in a report on Friday, March 23rd. Credit Suisse Group decreased their price objective on AbbVie from $109.00 to $98.10 and set a “neutral” rating on the stock in a report on Friday, March 23rd. Bank of America set a $120.00 price objective on AbbVie and gave the company a “hold” rating in a report on Monday, March 26th. Finally, Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $117.85.

Shares of ABBV opened at $94.32 on Thursday. AbbVie Inc. has a 52-week low of $63.29 and a 52-week high of $125.86. The firm has a market capitalization of $147,046.30, a price-to-earnings ratio of 16.84, a P/E/G ratio of 0.89 and a beta of 1.61. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.28 and a quick ratio of 1.18.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.04. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The business had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same period last year, the company earned $1.20 EPS. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. sell-side analysts forecast that AbbVie Inc. will post 7.53 EPS for the current fiscal year.

AbbVie announced that its Board of Directors has initiated a share repurchase program 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. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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 paid a $0.96 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This is an increase from AbbVie’s previous quarterly dividend of $0.71. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.07%. AbbVie’s dividend payout ratio (DPR) is 68.57%.

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About AbbVie

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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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