Nwam LLC lifted its holdings in AbbVie Inc (NYSE:ABBV) by 11.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,254 shares of the company’s stock after acquiring an additional 947 shares during the quarter. Nwam LLC’s holdings in AbbVie were worth $875,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Mainstay Capital Management LLC ADV raised its position in AbbVie by 6,123.5% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 12,447 shares of the company’s stock worth $143,000 after purchasing an additional 12,247 shares during the last quarter. First Mercantile Trust Co. bought a new position in AbbVie in the 2nd quarter worth approximately $150,000. MUFG Securities EMEA plc bought a new position in AbbVie in the 2nd quarter worth approximately $157,000. Rainier Group Investment Advisory LLC bought a new position in AbbVie in the 1st quarter worth approximately $161,000. Finally, Clearwater Capital Advisors LLC bought a new position in AbbVie in the 1st quarter worth approximately $195,000. 69.43% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Michael Severino sold 50,000 shares of the business’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $97.52, for a total value of $4,876,000.00. Following the completion of the transaction, the executive vice president now owns 111,481 shares of the company’s stock, valued at approximately $10,871,627.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is owned by insiders.
Several research analysts recently weighed in on the stock. BMO Capital Markets dropped their price objective on shares of AbbVie from $78.00 to $71.00 and set an “underperform” rating for the company in a research report on Monday. Credit Suisse Group set a $85.00 target price on shares of AbbVie and gave the company a “hold” rating in a research report on Sunday, October 14th. Berenberg Bank initiated coverage on shares of AbbVie in a research report on Thursday, July 12th. They set a “hold” rating and a $105.00 target price for the company. Cowen set a $110.00 target price on shares of AbbVie and gave the company a “buy” rating in a research report on Friday, July 27th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $100.00 target price on shares of AbbVie in a research report on Friday, July 27th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $104.57.
Shares of AbbVie stock opened at $82.58 on Tuesday. The firm has a market cap of $120.48 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 0.72 and a beta of 1.62. AbbVie Inc has a 52 week low of $77.50 and a 52 week high of $125.86. The company has a debt-to-equity ratio of 8.70, a current ratio of 0.80 and a quick ratio of 0.71.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, November 2nd. The company reported $2.14 EPS for the quarter, beating the consensus estimate of $2.01 by $0.13. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.23 billion. AbbVie had a net margin of 23.50% and a return on equity of 671.60%. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 EPS. As a group, sell-side analysts forecast that AbbVie Inc will post 7.91 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Tuesday, January 15th will be issued a $1.07 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $0.96. The ex-dividend date is Monday, January 14th. This represents a $4.28 annualized dividend and a dividend yield of 5.18%. AbbVie’s payout ratio is 68.57%.
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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 for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.
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