Pillar Pacific Capital Management LLC Has $8.05 Million Holdings in AbbVie Inc. (NYSE:ABBV)


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Pillar Pacific Capital Management LLC grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,116 shares of the company’s stock after buying an additional 421 shares during the quarter. Pillar Pacific Capital Management LLC’s holdings in AbbVie were worth $8,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Bogart Wealth LLC lifted its holdings in AbbVie by 5.8% in the 4th quarter. Bogart Wealth LLC now owns 34,991 shares of the company’s stock worth $3,749,000 after purchasing an additional 1,919 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in AbbVie by 15.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 225,908 shares of the company’s stock worth $24,206,000 after purchasing an additional 29,528 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in AbbVie by 27.2% in the 4th quarter. Sound Income Strategies LLC now owns 42,967 shares of the company’s stock worth $4,604,000 after purchasing an additional 9,185 shares during the last quarter. Thompson Investment Management Inc. lifted its holdings in AbbVie by 2.0% in the 4th quarter. Thompson Investment Management Inc. now owns 56,697 shares of the company’s stock worth $6,075,000 after purchasing an additional 1,138 shares during the last quarter. Finally, Spirit of America Management Corp NY lifted its holdings in AbbVie by 7.3% in the 4th quarter. Spirit of America Management Corp NY now owns 44,257 shares of the company’s stock worth $4,743,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

In related news, EVP Jeffrey Ryan Stewart sold 25,290 shares of the company’s stock in a transaction dated 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 sale, 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 Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy J. Richmond sold 51,990 shares of the company’s stock in a transaction dated Friday, November 27th. The shares were sold at an average price of $105.00, for a total value of $5,458,950.00. Following the completion of the sale, 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. Corporate insiders own 0.09% of the company’s stock.

Several equities research analysts recently weighed in on the company. Morgan Stanley reduced their target price on AbbVie from $120.00 to $116.00 and set an “overweight” rating for the company in a report on Thursday, January 28th. SVB Leerink lifted their price target on AbbVie from $128.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, February 4th. Mizuho boosted their price objective on AbbVie from $117.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday, February 4th. They noted that the move was a valuation call. BMO Capital Markets began coverage on AbbVie in a research report on Wednesday, November 18th. They issued an “outperform” rating and a $123.00 price target on the stock. Finally, Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a research report on Tuesday, February 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company’s stock. AbbVie presently has a consensus rating of “Buy” and a consensus price target of $114.39.

Shares of ABBV traded down $0.69 during trading hours on Tuesday, hitting $106.37. 206,697 shares of the stock traded hands, compared to its average volume of 7,651,642. The company has a current ratio of 0.95, a quick ratio of 0.81 and a debt-to-equity ratio of 5.38. AbbVie Inc. has a 1-year low of $62.55 and a 1-year high of $113.41. The firm has a market capitalization of $187.79 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84. The business has a fifty day moving average of $107.18 and a 200-day moving average of $97.93.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Tuesday, February 2nd. The company reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.07. AbbVie had a return on equity of 439.24% and a net margin of 18.16%. The business had revenue of $13.86 billion for the quarter, compared to analyst estimates of $13.70 billion. During the same quarter in the prior year, the firm posted $2.21 earnings per share. The firm’s revenue for the quarter was up 59.2% compared to the same quarter last year. As a group, equities research analysts expect that AbbVie Inc. will post 10.48 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 14th. Investors of record on Thursday, April 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Wednesday, April 14th. This represents a $5.20 dividend on an annualized basis and a yield of 4.89%. AbbVie’s dividend payout ratio is presently 58.17%.

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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