AbbVie Inc (ABBV) Holdings Lifted by Shelton Capital Management

Shelton Capital Management grew its stake in shares of AbbVie Inc (NYSE:ABBV) by 59.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 127,799 shares of the company’s stock after purchasing an additional 47,700 shares during the quarter. AbbVie comprises about 0.8% of Shelton Capital Management’s portfolio, making the stock its 20th biggest holding. Shelton Capital Management’s holdings in AbbVie were worth $11,356,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Hudock Capital Group LLC increased its position in shares of AbbVie by 109.5% during 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. Ffcm LLC increased its position in shares of AbbVie by 167.2% during 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. Bristlecone Advisors LLC acquired a new position in shares of AbbVie during the 3rd quarter worth approximately $113,000. BDO Wealth Advisors LLC acquired a new position in shares of AbbVie during the 2nd quarter worth approximately $115,000. Finally, Hershey Trust Co. acquired a new position in shares of AbbVie during the 3rd quarter worth approximately $139,000. 69.49% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have weighed in on ABBV shares. Societe Generale boosted their price target on AbbVie in a research report on Tuesday, November 21st. SunTrust Banks boosted their price target on AbbVie to $157.00 and gave the stock an “average” rating in a research report on Monday, January 29th. ValuEngine lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Leerink Swann set a $106.00 target price on AbbVie and gave the stock a “buy” rating in a research note on Tuesday, December 5th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of AbbVie in a research note on Tuesday, January 2nd. 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 given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $118.44.

In related news, insider Laura J. Schumacher sold 145,510 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $96.71, for a total value of $14,072,272.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy J. Richmond sold 87,040 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $98.45, for a total value of $8,569,088.00. Following the completion of the sale, the senior vice president now owns 113,118 shares of the company’s stock, valued at $11,136,467.10. The disclosure for this sale can be found here. Insiders sold a total of 233,542 shares of company stock valued at $22,760,708 over the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

AbbVie Inc (ABBV) opened at $118.75 on Friday. The company has a market capitalization of $188,571.80, a P/E ratio of 21.24, a PEG ratio of 1.13 and a beta of 1.61. AbbVie Inc has a one year low of $61.49 and a one year high of $125.86. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.32 and a current ratio of 1.28.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, beating 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 158.15% and a net margin of 18.82%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 EPS. research analysts anticipate that AbbVie Inc will post 7.48 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be paid a $0.96 dividend. The ex-dividend date of this dividend 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 yield of 3.23%. AbbVie’s payout ratio is 86.32%.

AbbVie announced that its board has initiated a stock buyback 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 often a sign that the company’s board of directors believes its stock is undervalued.

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AbbVie 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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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