Tandem Investment Advisors Inc. Has $41.67 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)


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Tandem Investment Advisors Inc. lifted its position in AbbVie Inc. (NYSE:ABBV) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 388,932 shares of the company’s stock after buying an additional 36,236 shares during the quarter. AbbVie comprises approximately 4.5% of Tandem Investment Advisors Inc.’s holdings, making the stock its 5th biggest position. Tandem Investment Advisors Inc.’s holdings in AbbVie were worth $41,674,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. RMR Wealth Builders bought a new stake in shares of AbbVie during the second quarter worth about $44,000. Rockbridge Investment Management LCC purchased a new stake in shares of AbbVie in the second quarter worth about $72,000. WFA of San Diego LLC purchased a new stake in AbbVie during the second quarter valued at approximately $492,000. Neuberger Berman Group LLC raised its position in AbbVie by 70.6% during the second quarter. Neuberger Berman Group LLC now owns 923,882 shares of the company’s stock valued at $90,623,000 after purchasing an additional 382,265 shares during the period. Finally, Principal Financial Group Inc. raised its position in AbbVie by 25.9% during the second quarter. Principal Financial Group Inc. now owns 2,713,691 shares of the company’s stock valued at $266,430,000 after purchasing an additional 558,412 shares during the period. 67.49% of the stock is owned by institutional investors and hedge funds.

NYSE:ABBV opened at $112.45 on Thursday. AbbVie Inc. has a 52 week low of $62.55 and a 52 week high of $113.41. The company has a quick ratio of 0.81, a current ratio of 0.95 and a debt-to-equity ratio of 5.38. The stock has a market capitalization of $198.53 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 1.49 and a beta of 0.84. The stock’s 50-day moving average price is $105.61 and its 200-day moving average price is $96.04.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, October 30th. The company reported $2.83 EPS for the quarter, beating the Zacks’ consensus estimate of $2.75 by $0.08. AbbVie had a return on equity of 439.24% and a net margin of 18.16%. The firm had revenue of $12.88 billion for the quarter, compared to analysts’ expectations of $12.71 billion. During the same period last year, the firm earned $2.33 EPS. The company’s quarterly revenue was up 51.9% on a year-over-year basis. Sell-side analysts expect 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. Investors of record on Friday, January 15th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.62%. This is a boost from AbbVie’s previous quarterly dividend of $1.18. The ex-dividend date is Thursday, January 14th. AbbVie’s payout ratio is presently 52.80%.

In related news, CEO Richard A. Gonzalez sold 231,604 shares of AbbVie stock in a transaction dated Thursday, November 12th. The stock was sold at an average price of $96.88, for a total value of $22,437,795.52. Also, EVP Timothy J. Richmond sold 51,990 shares of the firm’s stock in a transaction that occurred on Friday, November 27th. The stock was sold at an average price of $105.00, for a total transaction of $5,458,950.00. Following the completion of the transaction, the executive vice president now directly owns 51,990 shares in the company, valued at $5,458,950. The disclosure for this sale can be found here. Over the last quarter, insiders sold 308,884 shares of company stock worth $30,552,196. 0.09% of the stock is currently owned by insiders.

ABBV has been the topic of a number of recent research reports. BMO Capital Markets initiated coverage on AbbVie in a research report on Wednesday, November 18th. They set an “outperform” rating and a $123.00 price objective on the stock. Morgan Stanley upped their target price on AbbVie from $108.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, November 30th. Mizuho increased their price objective on AbbVie from $111.00 to $117.00 in a research note on Tuesday, December 15th. Berenberg Bank initiated coverage on AbbVie in a research report on Tuesday, September 29th. They set a “hold” rating and a $98.00 target price on the stock. Finally, ValuEngine raised AbbVie from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 1st. Three investment 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 presently 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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