Sigma Planning Corp grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,438 shares of the company’s stock after purchasing an additional 1,167 shares during the quarter. Sigma Planning Corp’s holdings in AbbVie were worth $5,458,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. lifted its position in AbbVie by 9.5% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 91,468 shares of the company’s stock valued at $8,845,000 after purchasing an additional 7,960 shares during the last quarter. San Francisco Sentry Investment Group CA lifted its position in AbbVie by 15.3% during the fourth quarter. San Francisco Sentry Investment Group CA now owns 3,386 shares of the company’s stock valued at $327,000 after purchasing an additional 450 shares during the last quarter. Girard Partners LTD. lifted its position in AbbVie by 6.4% during the fourth quarter. Girard Partners LTD. now owns 13,990 shares of the company’s stock valued at $1,353,000 after purchasing an additional 842 shares during the last quarter. Miracle Mile Advisors LLC bought a new stake in AbbVie during the fourth quarter valued at approximately $462,000. Finally, First Business Financial Services Inc. lifted its position in AbbVie by 14.6% during the fourth quarter. First Business Financial Services Inc. now owns 10,122 shares of the company’s stock valued at $979,000 after purchasing an additional 1,289 shares during the last quarter. Institutional investors own 70.57% of the company’s stock.
Several equities research analysts have issued reports on the stock. Argus lifted their target price on shares of AbbVie from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. BMO Capital Markets lowered shares of AbbVie from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $125.86 to $84.00 in a research report on Monday, January 29th. They noted that the move was a valuation call. Bank of America set a $120.00 target price on shares of AbbVie and gave the company a “hold” rating in a research report on Monday, March 26th. Finally, Barclays dropped their target price on shares of AbbVie from $120.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, April 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $117.85.
In related news, EVP Carlos Alban sold 83,574 shares of AbbVie stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $114.49, for a total value of $9,568,387.26. Following the transaction, the executive vice president now directly 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 SEC, which can be accessed through this link. Also, VP Robert A. Michael sold 992 shares of AbbVie stock in a transaction on Tuesday, February 20th. The stock was 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. Over the last ninety days, insiders sold 211,197 shares of company stock worth $24,585,575. 0.07% of the stock is owned by insiders.
Shares of NYSE ABBV opened at $92.60 on Tuesday. 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 52 week low of $63.12 and a 52 week high of $125.86. The firm has a market capitalization of $145,823.56, a P/E ratio of 16.54, a PEG ratio of 0.87 and a beta of 1.61.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.44 by $0.04. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The company had revenue of $7.74 billion for the quarter, compared to the consensus estimate of $7.53 billion. During the same period in the previous year, the firm earned $1.20 earnings per share. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. analysts anticipate that AbbVie Inc. will post 7.53 earnings per share for the current fiscal year.
The company also recently announced 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 represents a $3.84 annualized dividend and a dividend yield of 4.15%. This is an increase from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, April 12th. AbbVie’s payout ratio is presently 68.57%.
AbbVie announced that its board has authorized a stock repurchase plan on Thursday, February 15th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is 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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