Cetera Investment Advisers trimmed its holdings in shares of AbbVie Inc (NYSE:ABBV) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,840 shares of the company’s stock after selling 613 shares during the quarter. Cetera Investment Advisers’ holdings in AbbVie were worth $2,911,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Advisor Partners LLC increased its holdings in AbbVie by 11.7% in the second quarter. Advisor Partners LLC now owns 35,081 shares of the company’s stock valued at $2,544,000 after buying an additional 3,688 shares during the last quarter. Financial Advisory Service Inc. acquired a new position in AbbVie in the second quarter valued at approximately $242,000. Greatmark Investment Partners Inc. boosted its stake in AbbVie by 3.7% in the second quarter. Greatmark Investment Partners Inc. now owns 35,178 shares of the company’s stock valued at $2,551,000 after acquiring an additional 1,242 shares during the period. Barrett Asset Management LLC boosted its stake in AbbVie by 4.3% in the second quarter. Barrett Asset Management LLC now owns 377,097 shares of the company’s stock valued at $27,343,000 after acquiring an additional 15,705 shares during the period. Finally, SignalPoint Asset Management LLC acquired a new position in AbbVie in the second quarter valued at approximately $729,000. 69.49% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have commented on ABBV. Piper Jaffray Companies lifted their target price on AbbVie from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. SunTrust Banks lifted their target price on AbbVie to $157.00 and gave the company an “average” rating in a research note on Monday, January 29th. Leerink Swann downgraded AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 target price for the company. in a research note on Monday, January 29th. BMO Capital Markets downgraded AbbVie from a “market perform” rating to an “underperform” rating and decreased their target price for the company from $125.86 to $84.00 in a research note on Monday, January 29th. They noted that the move was a valuation call. Finally, Evercore ISI restated a “buy” rating and issued a $144.00 target price on shares of AbbVie in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $118.44.
AbbVie Inc (NYSE ABBV) opened at $117.91 on Thursday. 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 stock has a market capitalization of $187,349.06, a P/E ratio of 21.11, a PEG ratio of 1.12 and a beta of 1.61. AbbVie Inc has a 52-week low of $61.30 and a 52-week high of $125.86.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.04. The business had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. AbbVie had a return on equity of 152.78% and a net margin of 18.82%. The business’s revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 earnings per share. research analysts anticipate that AbbVie Inc will post 7.47 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be given a dividend of $0.96 per share. The ex-dividend date is Thursday, April 12th. This is an increase from AbbVie’s previous quarterly dividend of $0.71. This represents a $3.84 annualized dividend and a dividend yield of 3.26%. AbbVie’s payout ratio is currently 86.32%.
AbbVie announced that its board has authorized a share repurchase program on Thursday, February 15th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other news, insider Laura J. Schumacher sold 145,510 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $96.71, for a total transaction of $14,072,272.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Robert A. Michael sold 992 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $120.31, for a total value of $119,347.52. The disclosure for this sale can be found here. Over the last quarter, insiders have 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 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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