Abbrea Capital LLC increased its holdings in shares of AbbVie Inc (NYSE:ABBV) by 2.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,983 shares of the company’s stock after buying an additional 648 shares during the quarter. Abbrea Capital LLC’s holdings in AbbVie were worth $2,743,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Covington Capital Management lifted its stake in shares of AbbVie by 0.8% in the 4th quarter. Covington Capital Management now owns 55,518 shares of the company’s stock valued at $5,369,000 after purchasing an additional 449 shares during the period. San Francisco Sentry Investment Group CA raised its stake in AbbVie by 15.3% during the 4th quarter. San Francisco Sentry Investment Group CA now owns 3,386 shares of the company’s stock worth $327,000 after buying an additional 450 shares during the period. GHP Investment Advisors Inc. raised its stake in AbbVie by 8.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 5,970 shares of the company’s stock worth $577,000 after buying an additional 455 shares during the period. Annex Advisory Services LLC raised its stake in AbbVie by 1.1% during the 4th quarter. Annex Advisory Services LLC now owns 43,287 shares of the company’s stock worth $4,186,000 after buying an additional 478 shares during the period. Finally, First Personal Financial Services raised its stake in AbbVie by 2.7% during the 4th quarter. First Personal Financial Services now owns 18,248 shares of the company’s stock worth $1,765,000 after buying an additional 488 shares during the period. Institutional investors and hedge funds own 69.42% of the company’s stock.
Several brokerages recently commented on ABBV. BMO Capital Markets set a $95.00 price objective on AbbVie and gave the stock a “sell” rating in a research note on Tuesday, March 13th. Zacks Investment Research downgraded AbbVie from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Goldman Sachs Group downgraded AbbVie from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, May 24th. Deutsche Bank downgraded AbbVie from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $125.86 to $65.61 in a research note on Wednesday, May 30th. Finally, Argus dropped their price objective on AbbVie from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, June 11th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. AbbVie presently has an average rating of “Hold” and a consensus price target of $105.85.
AbbVie opened at $94.48 on Friday, MarketBeat Ratings reports. The stock has a market cap of $148.55 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 0.87 and a beta of 1.61. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.20 and a quick ratio of 1.10. AbbVie Inc has a 1 year low of $69.38 and a 1 year high of $125.86.
AbbVie (NYSE:ABBV) last released its earnings results on Thursday, April 26th. The company reported $1.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.08. The firm had revenue of $7.93 billion during the quarter, compared to analysts’ expectations of $7.60 billion. AbbVie had a return on equity of 186.47% and a net margin of 21.55%. The company’s revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 EPS. sell-side analysts forecast that AbbVie Inc will post 7.8 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Shareholders of record on Friday, July 13th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Thursday, July 12th. AbbVie’s dividend payout ratio (DPR) is presently 68.57%.
In other news, SVP Timothy J. Richmond sold 17,588 shares of the firm’s stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $99.47, for a total value of $1,749,478.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Glenn F. Tilton acquired 5,400 shares of the firm’s stock in a transaction dated Wednesday, June 27th. The stock was bought at an average price of $91.90 per share, with a total value of $496,260.00. Following the acquisition, the director now directly owns 39,735 shares in the company, valued at $3,651,646.50. The disclosure for this purchase can be found here. 0.07% of the stock is currently owned by corporate insiders.
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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