Evermay Wealth Management LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 49.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,991 shares of the company’s stock after purchasing an additional 3,945 shares during the quarter. Evermay Wealth Management LLC’s holdings in AbbVie were worth $1,160,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Aspen Investment Management Inc boosted its stake in AbbVie by 0.8% during the second quarter. Aspen Investment Management Inc now owns 5,210 shares of the company’s stock valued at $378,000 after buying an additional 40 shares in the last quarter. Beaumont Financial Partners LLC boosted its stake in AbbVie by 1.0% during the second quarter. Beaumont Financial Partners LLC now owns 5,616 shares of the company’s stock valued at $407,000 after buying an additional 56 shares in the last quarter. High Falls Advisors Inc boosted its stake in AbbVie by 1.4% during the second quarter. High Falls Advisors Inc now owns 4,376 shares of the company’s stock valued at $317,000 after buying an additional 60 shares in the last quarter. Highland Private Wealth Management boosted its stake in AbbVie by 2.5% during the second quarter. Highland Private Wealth Management now owns 3,259 shares of the company’s stock valued at $236,000 after buying an additional 79 shares in the last quarter. Finally, Jasper Ridge Partners L.P. boosted its stake in AbbVie by 1.0% during the second quarter. Jasper Ridge Partners L.P. now owns 9,948 shares of the company’s stock valued at $721,000 after buying an additional 96 shares in the last quarter. 70.57% of the stock is owned by institutional investors.
In related news, VP Robert A. Michael sold 992 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Richard A. Gonzalez sold 8,280 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $117.88, for a total value of $976,046.40. Following the completion of the sale, the chairman now directly owns 321,292 shares of the company’s stock, valued at $37,873,900.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 211,197 shares of company stock valued at $24,585,575. Company insiders own 0.07% of the company’s stock.
Shares of AbbVie stock opened at $92.60 on Tuesday. The stock has a market capitalization of $145,823.56, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 0.87 and a beta of 1.61. 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.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.04. The firm 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 business’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.20 EPS. research analysts forecast that AbbVie Inc. will post 7.53 earnings per share for the current year.
AbbVie announced that its board has authorized a share buyback program on Thursday, February 15th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently disclosed 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. This is an increase from AbbVie’s previous quarterly dividend of $0.71. This represents a $3.84 annualized dividend and a yield of 4.15%. The ex-dividend date is Thursday, April 12th. AbbVie’s dividend payout ratio is currently 68.57%.
Several equities research analysts have recently commented on the company. SunTrust Banks upped their target price on AbbVie to $157.00 and gave the company an “average” rating in a report on Monday, January 29th. Piper Jaffray upped their target price on AbbVie from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Leerink Swann downgraded AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 target price for the company. in a report on Monday, January 29th. BMO Capital Markets downgraded AbbVie from a “market perform” rating to an “underperform” rating and reduced their target price for the company from $125.86 to $84.00 in a report on Monday, January 29th. They noted that the move was a valuation call. Finally, Evercore ISI reaffirmed a “buy” rating and set a $144.00 target price on shares of AbbVie in a report on Monday, January 29th. 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 given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $117.85.
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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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