Crossmark Global Holdings Inc. grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 5.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 224,162 shares of the company’s stock after buying an additional 11,994 shares during the quarter. AbbVie accounts for approximately 0.5% of Crossmark Global Holdings Inc.’s holdings, making the stock its 29th largest position. Crossmark Global Holdings Inc.’s holdings in AbbVie were worth $21,679,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Ffcm LLC lifted its holdings in shares of AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after buying an additional 963 shares during the period. Bristlecone Advisors LLC bought a new position in shares of AbbVie during the 3rd quarter valued at $113,000. Hershey Trust Co. bought a new position in shares of AbbVie during the 3rd quarter valued at $139,000. Harvest Fund Management Co. Ltd lifted its holdings in shares of AbbVie by 1,172.6% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,227 shares of the company’s stock valued at $161,000 after buying an additional 2,052 shares during the period. Finally, Atlantic Trust LLC lifted its holdings in shares of AbbVie by 208.4% during the 2nd quarter. Atlantic Trust LLC now owns 2,467 shares of the company’s stock valued at $179,000 after buying an additional 1,667 shares during the period. 70.54% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently commented on ABBV. BMO Capital Markets decreased their target price on AbbVie from $95.00 to $80.00 and set an “underperform” rating on the stock in a report on Friday, March 23rd. Jefferies Group set a $125.00 target price on AbbVie and gave the stock a “buy” rating in a report on Friday, March 23rd. Credit Suisse Group decreased their target price on AbbVie from $109.00 to $98.10 and set a “neutral” rating on the stock in a report on Friday, March 23rd. Bank of America set a $120.00 target price on AbbVie and gave the stock a “hold” rating in a report on Monday, March 26th. Finally, Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. AbbVie has an average rating of “Buy” and a consensus target price of $117.38.
NYSE:ABBV opened at $89.78 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.18 and a debt-to-equity ratio of 6.07. The stock has a market cap of $146,426.98, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 0.87 and a beta of 1.61. AbbVie Inc. has a 52 week low of $63.12 and a 52 week high of $125.86.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.04. The business had revenue of $7.74 billion for the quarter, compared to analysts’ expectations of $7.53 billion. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the firm earned $1.20 earnings per share. analysts predict that AbbVie Inc. will post 7.51 earnings per share for the current fiscal year.
The firm also recently declared 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 is a boost from AbbVie’s previous quarterly dividend of $0.71. This represents a $3.84 dividend on an annualized basis and a yield of 4.28%. AbbVie’s dividend payout ratio (DPR) is currently 50.71%.
AbbVie declared that its Board of Directors has authorized a share buyback plan on Thursday, February 15th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, CFO William J. Chase sold 70,928 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $117.18, for a total transaction of $8,311,343.04. Following the completion of the transaction, the chief financial officer now owns 203,391 shares in the company, valued at $23,833,357.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Robert A. Michael sold 992 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were 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 three months, insiders have sold 211,197 shares of company stock worth $24,585,575. Insiders own 0.07% of the company’s stock.
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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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