Meridian Wealth Management LLC Sells 4,391 Shares of AbbVie Inc (ABBV)

Meridian Wealth Management LLC lessened its stake in AbbVie Inc (NYSE:ABBV) by 60.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,853 shares of the company’s stock after selling 4,391 shares during the quarter. Meridian Wealth Management LLC’s holdings in AbbVie were worth $257,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ABBV. Morse Asset Management Inc increased its position in shares of AbbVie by 15.2% during the third quarter. Morse Asset Management Inc now owns 61,510 shares of the company’s stock valued at $5,466,000 after acquiring an additional 8,120 shares during the last quarter. Csenge Advisory Group purchased a new stake in shares of AbbVie during the third quarter valued at approximately $2,715,000. Andra AP fonden increased its position in shares of AbbVie by 17.3% during the third quarter. Andra AP fonden now owns 87,500 shares of the company’s stock valued at $7,775,000 after acquiring an additional 12,915 shares during the last quarter. Palisade Capital Management LLC NJ increased its position in shares of AbbVie by 2.4% during the third quarter. Palisade Capital Management LLC NJ now owns 38,315 shares of the company’s stock valued at $3,405,000 after acquiring an additional 885 shares during the last quarter. Finally, McKinley Carter Wealth Services Inc. increased its position in shares of AbbVie by 55.1% during the third quarter. McKinley Carter Wealth Services Inc. now owns 6,849 shares of the company’s stock valued at $609,000 after acquiring an additional 2,432 shares during the last quarter. Institutional investors own 69.18% of the company’s stock.

In other news, insider Laura J. Schumacher sold 145,510 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $96.71, for a total value of $14,072,272.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Timothy J. Richmond sold 87,040 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $98.45, for a total value of $8,569,088.00. Following the completion of the transaction, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at $11,136,467.10. The disclosure for this sale can be found here. Insiders sold 494,676 shares of company stock valued at $47,237,938 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.

Shares of AbbVie Inc (NYSE:ABBV) opened at $100.24 on Wednesday. AbbVie Inc has a 52-week low of $59.27 and a 52-week high of $101.28. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. The stock has a market capitalization of $159,790.00, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 1.20 and a beta of 1.53.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $7 billion. During the same period last year, the company earned $1.21 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. equities analysts predict that AbbVie Inc will post 5.55 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a $0.71 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio (DPR) is presently 62.14%.

A number of research firms have issued reports on ABBV. Vetr downgraded AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 target price for the company. in a research report on Monday. Zacks Investment Research downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Jefferies Group raised their target price on AbbVie from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Piper Jaffray Companies reissued a “buy” rating on shares of AbbVie in a research report on Tuesday, January 2nd. Finally, BMO Capital Markets set a $84.00 target price on AbbVie and gave the stock a “hold” rating in a research report on Wednesday, December 20th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. AbbVie currently has an average rating of “Buy” and a consensus price target of $100.94.

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About AbbVie

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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