Rice Hall James & Associates LLC lessened its stake in AbbVie Inc (NYSE:ABBV) by 24.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,837 shares of the company’s stock after selling 5,200 shares during the quarter. Rice Hall James & Associates LLC’s holdings in AbbVie were worth $1,407,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in ABBV. Acropolis Investment Management LLC acquired a new position in AbbVie during the second quarter valued at approximately $106,000. Hudock Capital Group LLC raised its stake in shares of AbbVie by 109.5% during the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after purchasing an additional 806 shares during the period. Ffcm LLC raised its stake in shares of AbbVie by 167.2% during the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after purchasing an additional 963 shares during the period. Bristlecone Advisors LLC purchased a new stake in shares of AbbVie during the third quarter valued at approximately $113,000. Finally, BDO Wealth Advisors LLC purchased a new stake in shares of AbbVie during the second quarter valued at approximately $115,000. Institutional investors and hedge funds own 69.18% of the company’s stock.
ABBV has been the subject of a number of research analyst reports. Evercore ISI restated an “outperform” rating and issued a $100.00 price target (up previously from $95.00) on shares of AbbVie in a research note on Saturday, September 30th. Societe Generale lifted their price target on shares of AbbVie in a research note on Tuesday, November 21st. BMO Capital Markets set a $84.00 target price on shares of AbbVie and gave the company a “hold” rating in a research note on Thursday. Jefferies Group boosted their target price on shares of AbbVie from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Finally, Barclays reiterated a “hold” rating and set a $68.00 target price on shares of AbbVie in a research note on Thursday, September 28th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $100.94.
Shares of AbbVie Inc (NYSE:ABBV) traded up $1.07 during trading on Friday, reaching $100.34. 4,372,638 shares of the company’s stock traded hands, compared to its average volume of 4,460,000. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08. The company has a market capitalization of $159,950.00, a PE ratio of 24.35, a PEG ratio of 1.18 and a beta of 1.53. AbbVie Inc has a 12-month low of $59.27 and a 12-month high of $101.28.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.21 EPS. equities research analysts anticipate that AbbVie Inc will post 5.55 EPS for the current fiscal year.
The firm also recently announced 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 an increase from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.83%. AbbVie’s dividend payout ratio is currently 68.93%.
In other AbbVie news, Chairman Richard A. Gonzalez sold 218,193 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the completion of the sale, the chairman now owns 492,030 shares of the company’s stock, valued at $46,255,740.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Henry O. Gosebruch sold 18,300 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $90.55, for a total value of $1,657,065.00. Following the sale, the insider now directly owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The disclosure for this sale can be found here. Insiders sold a total of 494,676 shares of company stock worth $47,237,938 in the last quarter. 0.23% of the stock is owned by corporate insiders.
COPYRIGHT VIOLATION NOTICE: This piece of content was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece of content on another site, it was illegally copied and republished in violation of U.S. & international copyright and trademark laws. The legal version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/01/13/rice-hall-james-associates-llc-reduces-position-in-abbvie-inc-abbv.html.
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.
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.