Tower Bridge Advisors reduced its holdings in shares of AbbVie Inc (NYSE:ABBV) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,093 shares of the company’s stock after selling 1,021 shares during the quarter. Tower Bridge Advisors’ holdings in AbbVie were worth $3,118,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Country Club Trust Company n.a. lifted its stake in AbbVie by 3.0% during the second quarter. Country Club Trust Company n.a. now owns 4,568 shares of the company’s stock worth $332,000 after purchasing an additional 134 shares during the last quarter. Koshinski Asset Management Inc. lifted its stake in AbbVie by 28.2% during the second quarter. Koshinski Asset Management Inc. now owns 11,770 shares of the company’s stock worth $853,000 after purchasing an additional 2,586 shares during the last quarter. Alta Capital Management LLC lifted its stake in AbbVie by 1.5% during the second quarter. Alta Capital Management LLC now owns 27,365 shares of the company’s stock worth $1,984,000 after purchasing an additional 411 shares during the last quarter. Atria Investments LLC lifted its stake in AbbVie by 0.3% during the second quarter. Atria Investments LLC now owns 85,167 shares of the company’s stock worth $6,175,000 after purchasing an additional 292 shares during the last quarter. Finally, Iberiabank Corp lifted its stake in AbbVie by 1.2% during the second quarter. Iberiabank Corp now owns 81,633 shares of the company’s stock worth $5,919,000 after purchasing an additional 934 shares during the last quarter. Institutional investors own 69.19% of the company’s stock.
Several equities analysts recently issued reports on ABBV shares. Evercore ISI restated an “outperform” rating and set a $100.00 price objective (up from $95.00) on shares of AbbVie in a research note on Saturday, September 30th. Societe Generale raised their price objective on AbbVie in a research note on Tuesday, November 21st. BMO Capital Markets set a $84.00 price objective on AbbVie and gave the stock a “hold” rating in a research note on Thursday, January 11th. Jefferies Group raised their price objective on AbbVie from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. Finally, Barclays restated a “hold” rating and set a $68.00 price objective on shares of AbbVie in a research note on Thursday, September 28th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $101.38.
Shares of AbbVie Inc (NYSE ABBV) opened at $104.64 on Friday. AbbVie Inc has a 52-week low of $59.27 and a 52-week high of $104.87. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. The firm has a market capitalization of $166,810.00, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 1.21 and a beta of 1.53.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $7 billion. During the same period last year, the company earned $1.21 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. equities analysts anticipate that AbbVie Inc will post 5.56 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a $0.71 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a yield of 2.71%. AbbVie’s dividend payout ratio (DPR) is currently 68.93%.
In other news, insider Henry O. Gosebruch sold 18,300 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the transaction, the insider now directly owns 81,287 shares of the company’s stock, valued at $7,360,537.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $94.01, for a total value of $20,512,323.93. Following the transaction, the chairman now directly owns 492,030 shares in the company, valued at $46,255,740.30. The disclosure for this sale can be found here. Insiders sold 494,676 shares of company stock worth $47,237,938 over the last ninety days. 0.23% of the stock is owned by corporate insiders.
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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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