ZWJ Investment Counsel Inc. raised its stake in shares of AbbVie Inc (NYSE:ABBV) by 4.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,983 shares of the company’s stock after acquiring an additional 1,442 shares during the period. ZWJ Investment Counsel Inc. owned approximately 2,194.54% of AbbVie worth $3,109,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Formidable Asset Management LLC grew its holdings in shares of AbbVie by 0.3% in the second quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock valued at $285,000 after purchasing an additional 10 shares in the last quarter. WealthTrust Axiom LLC grew its holdings in shares of AbbVie by 0.3% in the second quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock valued at $312,000 after purchasing an additional 15 shares in the last quarter. Abner Herrman & Brock LLC grew its holdings in shares of AbbVie by 0.3% in the second quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock valued at $456,000 after purchasing an additional 18 shares in the last quarter. St. Louis Trust Co grew its holdings in shares of AbbVie by 0.7% in the second quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock valued at $248,000 after purchasing an additional 23 shares in the last quarter. Finally, TRUE Private Wealth Advisors grew its holdings in shares of AbbVie by 0.6% in the second quarter. TRUE Private Wealth Advisors now owns 4,814 shares of the company’s stock valued at $349,000 after purchasing an additional 27 shares in the last quarter. Institutional investors and hedge funds own 69.19% of the company’s stock.
A number of brokerages recently weighed in on ABBV. BMO Capital Markets set a $84.00 price objective on shares of AbbVie and gave the company a “hold” rating in a report on Thursday, January 11th. Vetr downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 price target for the company. in a research note on Monday, January 8th. Zacks Investment Research downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Jefferies Group boosted their price objective on shares of AbbVie from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of AbbVie in a research report on Tuesday, January 2nd. Seven equities research 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’s stock. The company presently has an average rating of “Buy” and an average price target of $100.94.
AbbVie Inc (NYSE ABBV) opened at $100.34 on Tuesday. The company has a market capitalization of $160,185.78, a price-to-earnings ratio of 24.41, a PEG ratio of 1.20 and a beta of 1.52. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08. AbbVie Inc has a fifty-two week low of $59.27 and a fifty-two week high of $101.28.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. AbbVie’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 earnings per share. sell-side analysts predict that AbbVie Inc will post 5.54 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a dividend of $0.71 per share. The ex-dividend date is Thursday, January 11th. 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 yield of 2.83%. AbbVie’s dividend payout ratio (DPR) is presently 69.10%.
In other AbbVie news, SVP Timothy J. Richmond sold 87,040 shares of AbbVie stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Henry O. Gosebruch sold 18,300 shares of AbbVie 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 completion of the transaction, the insider now directly owns 81,287 shares in the company, valued at $7,360,537.85. The disclosure for this sale can be found here. Insiders have sold a total of 494,676 shares of company stock valued at $47,237,938 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.
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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.
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