AMG National Trust Bank lifted its holdings in AbbVie Inc (NYSE:ABBV) by 1.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 85,802 shares of the company’s stock after purchasing an additional 1,191 shares during the period. AMG National Trust Bank’s holdings in AbbVie were worth $7,910,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Eagle Capital Management LLC lifted its stake in shares of AbbVie by 2.3% in the 3rd quarter. Eagle Capital Management LLC now owns 34,102 shares of the company’s stock valued at $3,225,000 after purchasing an additional 769 shares during the period. Boston Private Wealth LLC lifted its stake in shares of AbbVie by 0.3% in the 3rd quarter. Boston Private Wealth LLC now owns 423,390 shares of the company’s stock valued at $40,043,000 after purchasing an additional 1,191 shares during the period. Holderness Investments Co. lifted its stake in shares of AbbVie by 11.2% in the 3rd quarter. Holderness Investments Co. now owns 15,483 shares of the company’s stock valued at $1,464,000 after purchasing an additional 1,560 shares during the period. Independent Advisor Alliance lifted its stake in shares of AbbVie by 12.0% in the 3rd quarter. Independent Advisor Alliance now owns 44,564 shares of the company’s stock valued at $3,890,000 after purchasing an additional 4,784 shares during the period. Finally, Gideon Capital Advisors Inc. acquired a new position in shares of AbbVie in the 3rd quarter valued at about $230,000. Hedge funds and other institutional investors own 70.62% of the company’s stock.
ABBV stock opened at $79.26 on Tuesday. AbbVie Inc has a fifty-two week low of $75.77 and a fifty-two week high of $107.25. The company has a market cap of $117.12 billion, a P/E ratio of 10.02, a PEG ratio of 1.60 and a beta of 1.14.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, April 25th. The company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.08. AbbVie had a negative return on equity of 253.85% and a net margin of 16.42%. The business had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.81 billion. During the same period in the prior year, the business earned $1.87 EPS. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. Analysts anticipate that AbbVie Inc will post 8.83 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 5.40%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is currently 54.11%.
ABBV has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded AbbVie from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. Credit Suisse Group set a $79.00 price objective on AbbVie and gave the company a “hold” rating in a research note on Friday, January 25th. ValuEngine raised AbbVie from a “strong sell” rating to a “sell” rating in a research note on Friday, March 15th. Barclays reaffirmed a “hold” rating and set a $86.00 price target on shares of AbbVie in a research note on Thursday, February 14th. Finally, UBS Group reaffirmed a “neutral” rating and set a $91.00 price target (down from $97.00) on shares of AbbVie in a research note on Wednesday, January 23rd. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. AbbVie currently has an average rating of “Hold” and an average target price of $94.95.
In other AbbVie news, Vice Chairman Laura J. Schumacher sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $80.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the insider now directly owns 139,838 shares of the company’s stock, valued at approximately $11,187,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian L. Durkin sold 475 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $79.69, for a total value of $37,852.75. Following the sale, the vice president now directly owns 9,121 shares of the company’s stock, valued at $726,852.49. The disclosure for this sale can be found here. Insiders have sold a total of 41,272 shares of company stock valued at $3,286,290 over the last three months. Corporate insiders own 0.08% of the company’s stock.
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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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