Investment House LLC Raises Stake in AbbVie Inc. (NYSE:ABBV)


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Investment House LLC increased its stake in AbbVie Inc. (NYSE:ABBV) by 0.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 94,367 shares of the company’s stock after buying an additional 275 shares during the quarter. Investment House LLC’s holdings in AbbVie were worth $10,111,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ABBV. Nuveen Asset Management LLC boosted its stake in AbbVie by 46.4% in the second quarter. Nuveen Asset Management LLC now owns 22,124,489 shares of the company’s stock worth $2,172,182,000 after buying an additional 7,007,887 shares in the last quarter. Two Sigma Advisers LP boosted its stake in AbbVie by 60.6% in the second quarter. Two Sigma Advisers LP now owns 4,177,587 shares of the company’s stock worth $410,155,000 after buying an additional 1,576,465 shares in the last quarter. Morgan Stanley boosted its stake in AbbVie by 10.4% in the third quarter. Morgan Stanley now owns 13,731,455 shares of the company’s stock worth $1,202,737,000 after buying an additional 1,296,673 shares in the last quarter. AJO LP boosted its stake in AbbVie by 2,163.7% in the third quarter. AJO LP now owns 1,231,416 shares of the company’s stock worth $107,858,000 after buying an additional 1,177,017 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in AbbVie by 74.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,818,815 shares of the company’s stock worth $158,576,000 after buying an additional 776,468 shares in the last quarter. 67.49% of the stock is currently owned by institutional investors.

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 25,290 shares of the stock in a transaction on Tuesday, December 29th. The stock was sold at an average price of $105.00, for a total value of $2,655,450.00. Following the completion of the transaction, the executive vice president now owns 76,259 shares in the company, valued at $8,007,195. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Timothy J. Richmond sold 51,990 shares of the stock in a transaction on Friday, November 27th. The stock was sold at an average price of $105.00, for a total value of $5,458,950.00. Following the completion of the transaction, the executive vice president now owns 51,990 shares of the company’s stock, valued at approximately $5,458,950. The disclosure for this sale can be found here. In the last quarter, insiders sold 308,884 shares of company stock valued at $30,552,196. 0.09% of the stock is owned by corporate insiders.

ABBV stock traded up $2.67 on Wednesday, reaching $112.45. The company’s stock had a trading volume of 9,667,368 shares, compared to its average volume of 7,877,784. The business has a fifty day simple moving average of $105.49 and a two-hundred day simple moving average of $95.97. AbbVie Inc. has a 12-month low of $62.55 and a 12-month high of $113.41. The firm has a market cap of $198.53 billion, a PE ratio of 23.79, a PEG ratio of 1.49 and a beta of 0.84. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.81 and a current ratio of 0.95.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, October 30th. The company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $0.08. The company had revenue of $12.88 billion during the quarter, compared to analyst estimates of $12.71 billion. AbbVie had a return on equity of 439.24% and a net margin of 18.16%. The firm’s revenue was up 51.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.33 earnings per share. As a group, research analysts anticipate that AbbVie Inc. will post 10.48 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 16th. Shareholders of record on Friday, January 15th will be issued a $1.30 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.18. The ex-dividend date is Thursday, January 14th. This represents a $5.20 dividend on an annualized basis and a yield of 4.62%. AbbVie’s dividend payout ratio is 52.80%.

Several analysts have issued reports on ABBV shares. The Goldman Sachs Group lowered AbbVie from a “neutral” rating to a “sell” rating in a research note on Tuesday, October 20th. JPMorgan Chase & Co. upped their target price on AbbVie from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, October 16th. Berenberg Bank began coverage on AbbVie in a research note on Tuesday, September 29th. They set a “hold” rating and a $98.00 price objective for the company. Sanford C. Bernstein began coverage on AbbVie in a research note on Tuesday, November 10th. They set an “outperform” rating and a $120.00 price objective for the company. Finally, BidaskClub raised AbbVie from a “strong sell” rating to a “sell” rating in a research note on Friday, January 1st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $112.50.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, 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; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; 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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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