Rice Hall James & Associates LLC Sells 5,200 Shares of AbbVie Inc (ABBV)

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.

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AbbVie Profile

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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