Synovus Financial Corp raised its stake in shares of AbbVie Inc (NYSE:ABBV) by 0.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 172,824 shares of the company’s stock after acquiring an additional 1,029 shares during the period. Synovus Financial Corp’s holdings in AbbVie were worth $15,930,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Sawgrass Asset Management LLC lifted its stake in shares of AbbVie by 7.4% in the 4th quarter. Sawgrass Asset Management LLC now owns 409,054 shares of the company’s stock worth $37,711,000 after purchasing an additional 28,134 shares during the period. Johnson Financial Group Inc. lifted its stake in shares of AbbVie by 61.0% in the 3rd quarter. Johnson Financial Group Inc. now owns 37,592 shares of the company’s stock worth $3,555,000 after purchasing an additional 14,242 shares during the period. Coastline Trust Co lifted its stake in shares of AbbVie by 1.0% in the 4th quarter. Coastline Trust Co now owns 21,251 shares of the company’s stock worth $1,959,000 after purchasing an additional 201 shares during the period. Guinness Asset Management Ltd lifted its stake in shares of AbbVie by 33.2% in the 4th quarter. Guinness Asset Management Ltd now owns 220,210 shares of the company’s stock worth $20,301,000 after purchasing an additional 54,840 shares during the period. Finally, Accident Compensation Corp lifted its stake in shares of AbbVie by 13.0% in the 3rd quarter. Accident Compensation Corp now owns 65,192 shares of the company’s stock worth $6,166,000 after purchasing an additional 7,492 shares during the period. Institutional investors and hedge funds own 70.66% of the company’s stock.
In related news, VP Brian L. Durkin sold 475 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $79.69, for a total value of $37,852.75. Following the completion of the transaction, the vice president now directly owns 9,121 shares of the company’s stock, valued at $726,852.49. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Laura J. Schumacher sold 25,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $80.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the insider now directly owns 139,838 shares of the company’s stock, valued at $11,187,040. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,272 shares of company stock valued at $3,286,290. Insiders own 0.08% of the company’s stock.
Shares of ABBV opened at $80.21 on Wednesday. AbbVie Inc has a 1 year low of $75.77 and a 1 year high of $107.25. The company has a market cap of $119.53 billion, a price-to-earnings ratio of 10.14, a P/E/G ratio of 1.66 and a beta of 1.16.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 25th. The company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.02). AbbVie had a net margin of 17.36% and a negative return on equity of 439.07%. The company had revenue of $8.31 billion for the quarter, compared to analysts’ expectations of $8.37 billion. During the same period last year, the business earned $1.48 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts anticipate that AbbVie Inc will post 8.69 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is currently 54.11%.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Tuesday, January 8th. Bank of America lowered shares of AbbVie from a “buy” rating to a “neutral” rating in a report on Thursday, January 3rd. UBS Group reissued a “neutral” rating and issued a $91.00 target price (down from $97.00) on shares of AbbVie in a report on Wednesday, January 23rd. Credit Suisse Group raised shares of AbbVie to a “hold” rating and set a $79.00 target price for the company in a report on Thursday, January 17th. Finally, Morgan Stanley set a $88.00 target price on shares of AbbVie and gave the stock a “hold” rating in a report on Thursday, December 20th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. AbbVie currently has an average rating of “Hold” and an average price target of $94.48.
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AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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