Smith Shellnut Wilson LLC ADV purchased a new stake in AbbVie Inc (NYSE:ABBV) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,918 shares of the company’s stock, valued at approximately $437,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bristlecone Advisors LLC acquired a new stake in AbbVie in the 3rd quarter worth approximately $113,000. Ffcm LLC lifted its holdings in AbbVie by 167.2% in the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after purchasing an additional 963 shares during the last quarter. Hudock Capital Group LLC lifted its holdings in AbbVie by 109.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after purchasing an additional 806 shares during the last quarter. Hershey Trust Co. acquired a new stake in AbbVie in the 3rd quarter worth approximately $139,000. Finally, BDO Wealth Advisors LLC acquired a new stake in AbbVie in the 2nd quarter worth approximately $115,000. 69.49% of the stock is owned by institutional investors and hedge funds.
AbbVie Inc (NYSE ABBV) opened at $117.56 on Friday. AbbVie Inc has a 1-year low of $61.45 and a 1-year high of $125.86. The company has a market capitalization of $187,237.91, a P/E ratio of 35.73, a PEG ratio of 1.12 and a beta of 1.61. The company has a current ratio of 1.28, a quick ratio of 1.32 and a debt-to-equity ratio of 6.07.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.04. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The company had revenue of $7.74 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same period in the previous year, the company earned $1.20 earnings per share. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. equities research analysts anticipate that AbbVie Inc will post 7.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be issued a dividend of $0.96 per share. The ex-dividend date is Thursday, April 12th. This is a positive change from AbbVie’s previous quarterly dividend of $0.71. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.27%. AbbVie’s payout ratio is 86.32%.
AbbVie declared that its Board of Directors has approved a share repurchase plan 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 plans are usually a sign that the company’s management believes its stock is undervalued.
ABBV has been the subject of several analyst reports. BMO Capital Markets set a $66.00 target price on AbbVie and gave the stock a “hold” rating in a report on Friday, October 27th. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 11th. Piper Jaffray Companies boosted their target price on AbbVie to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 27th. SunTrust Banks restated a “buy” rating on shares of AbbVie in a report on Monday, October 30th. Finally, Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $118.44.
In related news, VP Robert A. Michael sold 992 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $120.31, for a total value of $119,347.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Laura J. Schumacher sold 145,510 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $96.71, for a total value of $14,072,272.10. 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. 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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