Advanced Asset Management Advisors Inc purchased a new position in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,855 shares of the company’s stock, valued at approximately $1,823,000.
Several other large investors also recently modified their holdings of the company. Ffcm LLC grew its holdings 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 purchasing an additional 963 shares during the last quarter. Hershey Trust Co. bought a new position in shares of AbbVie during the 3rd quarter valued at $139,000. Harvest Fund Management Co. Ltd grew its holdings in shares of AbbVie by 1,172.6% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,227 shares of the company’s stock valued at $161,000 after purchasing an additional 2,052 shares during the last quarter. Acropolis Investment Management LLC grew its holdings in AbbVie by 68.3% in the 4th quarter. Acropolis Investment Management LLC now owns 1,855 shares of the company’s stock worth $179,000 after acquiring an additional 753 shares during the last quarter. Finally, Acrospire Investment Management LLC grew its holdings in AbbVie by 223.9% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,604 shares of the company’s stock worth $189,000 after acquiring an additional 1,800 shares during the last quarter. 70.65% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO William J. Chase sold 70,928 shares of AbbVie stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $117.18, for a total transaction of $8,311,343.04. Following the completion of the transaction, 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 SEC, which is available at this hyperlink. Also, VP Robert A. Michael sold 992 shares of AbbVie stock in a transaction dated 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. Over the last three months, insiders have sold 211,197 shares of company stock valued at $24,585,575. 0.07% of the stock is currently owned by corporate insiders.
A number of equities research analysts have issued reports on the stock. ValuEngine raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Credit Suisse Group set a $135.00 price target on shares of AbbVie and gave the stock a “hold” rating in a report on Monday, January 29th. Leerink Swann lowered shares of AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 price target on the stock. in a report on Monday, January 29th. BMO Capital Markets reissued a “sell” rating and issued a $95.00 price target on shares of AbbVie in a report on Thursday, February 15th. Finally, Zacks Investment Research lowered shares of AbbVie from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $117.85.
NYSE:ABBV opened at $91.36 on Wednesday. AbbVie Inc. has a 12 month low of $64.61 and a 12 month high of $125.86. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.28 and a quick ratio of 1.18. The stock has a market capitalization of $147,046.30, a PE ratio of 16.31, a P/E/G ratio of 0.89 and a beta of 1.61.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.04. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The firm had revenue of $7.74 billion during the quarter, compared to analysts’ expectations of $7.53 billion. During the same period last year, the company posted $1.20 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. research analysts forecast that AbbVie Inc. will post 7.57 earnings per share for the current year.
AbbVie declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 15th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is 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 given a dividend of $0.96 per share. This is a boost from AbbVie’s previous quarterly dividend of $0.71. This represents a $3.84 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend is Thursday, April 12th. AbbVie’s dividend payout ratio (DPR) is 68.57%.
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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