Wealthcare Advisory Partners LLC raised its holdings in shares of AbbVie Inc (NYSE:ABBV) by 1,907,400.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,075 shares of the company’s stock after buying an additional 19,074 shares during the period. AbbVie comprises approximately 0.5% of Wealthcare Advisory Partners LLC’s investment portfolio, making the stock its 27th biggest position. Wealthcare Advisory Partners LLC’s holdings in AbbVie were worth $1,695,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of ABBV. Bristlecone Advisors LLC purchased a new stake in shares of AbbVie in the 3rd quarter valued at approximately $113,000. Ffcm LLC lifted its position in shares of AbbVie by 167.2% in the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after acquiring an additional 963 shares in the last quarter. Hudock Capital Group LLC lifted its position in shares of AbbVie by 109.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after acquiring an additional 806 shares in the last quarter. Hershey Trust Co. purchased a new stake in shares of AbbVie in the 3rd quarter valued at approximately $139,000. Finally, BDO Wealth Advisors LLC purchased a new stake in shares of AbbVie in the 2nd quarter valued at approximately $115,000. Hedge funds and other institutional investors own 69.49% of the company’s stock.
Several brokerages recently commented on ABBV. Argus upped their price target on shares of AbbVie from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. BMO Capital Markets downgraded shares of AbbVie from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $125.86 to $84.00 in a research report on Monday, January 29th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research report on Thursday, January 18th. Piper Jaffray Companies upped their price target on shares of AbbVie from $130.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Finally, Evercore ISI restated a “buy” rating and issued a $144.00 price target on shares of AbbVie in a research report on Monday, January 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $118.44.
Shares of AbbVie Inc (ABBV) opened at $117.98 on Wednesday. AbbVie Inc has a 12-month low of $61.30 and a 12-month high of $125.86. 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 cap of $188,333.59, a P/E ratio of 35.86, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.04. AbbVie had a net margin of 18.82% and a return on equity of 152.78%. The company had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The company’s revenue was up 13.9% compared to the same quarter last year. equities analysts expect that AbbVie Inc will post 7.46 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be given a $0.96 dividend. This is an increase from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date is Thursday, April 12th. This represents a $3.84 dividend on an annualized basis and a yield of 3.25%. AbbVie’s dividend payout ratio is presently 86.32%.
AbbVie declared that its board has authorized a share repurchase plan on Thursday, February 15th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.
In other news, SVP Timothy J. Richmond sold 87,040 shares of the firm’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the transaction, the senior vice president now owns 113,118 shares in the company, valued at approximately $11,136,467.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert A. Michael sold 992 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $120.31, for a total transaction of $119,347.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 233,542 shares of company stock valued at $22,760,708. Insiders own 0.23% of the company’s stock.
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AbbVie Company 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.
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