AbbVie Inc (ABBV) Position Lifted by Legacy Private Trust Co.

Legacy Private Trust Co. increased its position in AbbVie Inc (NYSE:ABBV) by 28.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 41,841 shares of the company’s stock after buying an additional 9,169 shares during the period. Legacy Private Trust Co.’s holdings in AbbVie were worth $3,957,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ABBV. DNB Asset Management AS boosted its holdings in shares of AbbVie by 0.6% during the 3rd quarter. DNB Asset Management AS now owns 188,185 shares of the company’s stock valued at $17,799,000 after purchasing an additional 1,190 shares during the last quarter. Manning & Napier Group LLC boosted its holdings in shares of AbbVie by 7.9% during the 3rd quarter. Manning & Napier Group LLC now owns 286,619 shares of the company’s stock valued at $27,106,000 after purchasing an additional 20,976 shares during the last quarter. Lourd Capital LLC bought a new position in shares of AbbVie during the 3rd quarter valued at about $898,000. Factory Mutual Insurance Co. boosted its holdings in shares of AbbVie by 3.1% during the 3rd quarter. Factory Mutual Insurance Co. now owns 281,700 shares of the company’s stock valued at $26,642,000 after purchasing an additional 8,500 shares during the last quarter. Finally, E&G Advisors LP bought a new position in shares of AbbVie during the 3rd quarter valued at about $492,000. 69.43% of the stock is owned by institutional investors.

Shares of NYSE ABBV opened at $88.79 on Friday. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.71 and a current ratio of 0.80. The stock has a market cap of $131.68 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 0.82 and a beta of 1.62. AbbVie Inc has a 12-month low of $77.50 and a 12-month high of $125.86.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, November 2nd. The company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.13. The firm had revenue of $8.24 billion for 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 was up 17.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.41 EPS. As a group, sell-side analysts expect that AbbVie Inc will post 7.93 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Tuesday, January 15th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.82%. This is a boost from AbbVie’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Monday, January 14th. AbbVie’s dividend payout ratio is currently 68.57%.

In other news, EVP Michael Severino sold 50,000 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the sale, the executive vice president now directly owns 111,481 shares in the company, valued at approximately $10,871,627.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is currently owned by corporate insiders.

Several research firms have commented on ABBV. Bank of America increased their price objective on shares of AbbVie from $105.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, August 22nd. BMO Capital Markets reissued a “sell” rating and set a $78.00 price objective on shares of AbbVie in a report on Wednesday, August 22nd. Credit Suisse Group raised shares of AbbVie to a “hold” rating and set a $89.00 price objective for the company in a report on Friday, July 13th. Jefferies Financial Group set a $100.00 price objective on shares of AbbVie and gave the company a “buy” rating in a report on Sunday, July 15th. Finally, Zacks Investment Research downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a report on Saturday, July 14th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. AbbVie currently has an average rating of “Hold” and a consensus price target of $103.68.

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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 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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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