UMB Bank N A MO raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220,094 shares of the company’s stock after purchasing an additional 19,293 shares during the period. UMB Bank N A MO’s holdings in AbbVie were worth $21,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Formidable Asset Management LLC raised its position in shares of AbbVie by 0.3% during the 2nd quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock valued at $285,000 after buying an additional 10 shares during the period. TRUE Private Wealth Advisors increased its holdings in AbbVie by 0.6% in the 2nd quarter. TRUE Private Wealth Advisors now owns 4,814 shares of the company’s stock valued at $349,000 after purchasing an additional 27 shares during the last quarter. Aspen Investment Management Inc grew its stake in shares of AbbVie by 0.8% in the second quarter. Aspen Investment Management Inc now owns 5,210 shares of the company’s stock worth $378,000 after acquiring an additional 40 shares in the last quarter. Beaumont Financial Partners LLC grew its stake in shares of AbbVie by 1.0% in the second quarter. Beaumont Financial Partners LLC now owns 5,616 shares of the company’s stock worth $407,000 after acquiring an additional 56 shares in the last quarter. Finally, Schulhoff & Co. Inc. grew its stake in shares of AbbVie by 0.3% in the second quarter. Schulhoff & Co. Inc. now owns 23,912 shares of the company’s stock worth $1,733,000 after acquiring an additional 60 shares in the last quarter. 70.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on ABBV shares. Societe Generale boosted their target price on shares of AbbVie in a research note on Tuesday, November 21st. BMO Capital Markets reaffirmed a “hold” rating and issued a $84.00 target price on shares of AbbVie in a report on Tuesday, November 21st. ValuEngine lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Leerink Swann set a $106.00 price target on shares of AbbVie and gave the company a “buy” rating in a research report on Tuesday, December 5th. Finally, Vetr upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $113.08 target price on the stock in a research report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $120.96.
In related news, VP Robert A. Michael sold 4,294 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $119.43, for a total value of $512,832.42. Following the completion of the transaction, the vice president now directly owns 11,170 shares of the company’s stock, valued at $1,334,033.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 three months, insiders have sold 211,197 shares of company stock worth $24,585,575. Insiders own 0.23% of the company’s stock.
AbbVie stock traded down $2.91 during midday trading on Monday, reaching $110.80. 4,198,004 shares of the company’s stock were exchanged, compared to its average volume of 6,616,474. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.28 and a quick ratio of 1.18. AbbVie Inc. has a 1 year low of $63.12 and a 1 year high of $125.86. The firm has a market capitalization of $180,568.41, a PE ratio of 33.74, a PEG ratio of 1.07 and a beta of 1.52.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.04. The firm had revenue of $7.74 billion during the quarter, compared to analysts’ expectations of $7.53 billion. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 EPS. analysts expect that AbbVie Inc. will post 7.48 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be issued a dividend of $0.96 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.84 dividend on an annualized basis and a yield of 3.47%. This is a positive change from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s dividend payout ratio is currently 86.32%.
AbbVie declared that its board has approved a share buyback plan on Thursday, February 15th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
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