Grimes & Company Inc. raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 641.7% during the 4th quarter, Holdings Channel reports. The firm owned 31,863 shares of the company’s stock after buying an additional 27,567 shares during the quarter. Grimes & Company Inc.’s holdings in AbbVie were worth $3,081,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. boosted its stake in shares of AbbVie by 5.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 224,162 shares of the company’s stock worth $21,679,000 after buying an additional 11,994 shares during the last quarter. REDW Stanley Financial Advisors LLC purchased a new stake in shares of AbbVie in the fourth quarter worth about $204,000. Main Street Research LLC boosted its stake in shares of AbbVie by 1.7% in the fourth quarter. Main Street Research LLC now owns 144,575 shares of the company’s stock worth $13,982,000 after buying an additional 2,444 shares during the last quarter. Bank of The Ozarks boosted its stake in shares of AbbVie by 27.9% in the fourth quarter. Bank of The Ozarks now owns 46,403 shares of the company’s stock worth $4,488,000 after buying an additional 10,128 shares during the last quarter. Finally, Barber Financial Group Inc. purchased a new stake in shares of AbbVie in the fourth quarter worth about $241,000. Institutional investors and hedge funds own 70.54% of the company’s stock.
In other AbbVie news, EVP Carlos Alban sold 83,574 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $114.49, for a total transaction of $9,568,387.26. Following the completion of the transaction, the executive vice president now owns 133,026 shares of the company’s stock, valued at $15,230,146.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert A. Michael sold 4,294 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 11,170 shares of the company’s stock, valued at approximately $1,334,033.10. The disclosure for this sale can be found here. Insiders have sold 211,197 shares of company stock valued at $24,585,575 in the last three months. Insiders own 0.07% of the company’s stock.
A number of analysts have recently commented on the company. Barclays lowered their target price on AbbVie from $120.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday. BMO Capital Markets restated a “sell” rating and issued a $80.00 target price on shares of AbbVie in a research note on Thursday. ValuEngine downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 28th. Jefferies Group set a $125.00 target price on AbbVie and gave the stock a “buy” rating in a research note on Friday, March 23rd. 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 equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $117.38.
Shares of ABBV stock opened at $89.78 on Monday. The company has a market cap of $142,568.22, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 0.85 and a beta of 1.61. The company has a current ratio of 1.28, a quick ratio of 1.18 and a debt-to-equity ratio of 6.07. AbbVie Inc. has a 12-month low of $63.12 and a 12-month high of $125.86.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.04. The company had revenue of $7.74 billion for 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%. AbbVie’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.20 earnings per share. research analysts predict that AbbVie Inc. will post 7.51 EPS for the current year.
AbbVie declared that its Board of Directors has approved a share repurchase plan on Thursday, February 15th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently announced 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 is Thursday, April 12th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.28%. This is a boost from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s dividend payout ratio is presently 50.71%.
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AbbVie Company Profile
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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