AbbVie Inc (ABBV) Holdings Cut by Terra Nova Asset Management LLC

Terra Nova Asset Management LLC decreased its holdings in shares of AbbVie Inc (NYSE:ABBV) by 4.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,900 shares of the company’s stock after selling 785 shares during the period. AbbVie makes up about 2.3% of Terra Nova Asset Management LLC’s holdings, making the stock its 16th biggest position. Terra Nova Asset Management LLC’s holdings in AbbVie were worth $1,504,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC purchased a new stake in AbbVie in the 3rd quarter valued at approximately $112,000. Mainstay Capital Management LLC ADV increased its holdings in shares of AbbVie by 6,123.5% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 12,447 shares of the company’s stock worth $143,000 after buying an additional 12,247 shares during the last quarter. First Mercantile Trust Co. acquired a new stake in shares of AbbVie during the 2nd quarter worth $150,000. MUFG Securities EMEA plc acquired a new stake in shares of AbbVie during the 2nd quarter worth $157,000. Finally, Kiley Juergens Wealth Management LLC increased its holdings in shares of AbbVie by 69.3% during the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 1,761 shares of the company’s stock worth $166,000 after buying an additional 721 shares during the last quarter. Institutional investors own 69.85% of the company’s stock.

Shares of NYSE ABBV opened at $90.55 on Thursday. AbbVie Inc has a 12-month low of $77.50 and a 12-month high of $125.86. The firm has a market capitalization of $136.21 billion, a P/E ratio of 16.17, a P/E/G ratio of 0.84 and a beta of 1.68. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.20 and a quick ratio of 1.08.

AbbVie (NYSE:ABBV) last announced its quarterly 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. AbbVie had a return on equity of 2,006.63% and a net margin of 23.50%. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the prior year, the firm earned $1.41 EPS. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, analysts forecast that AbbVie Inc will post 7.93 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Tuesday, January 15th will be issued a $1.07 dividend. This is an increase from AbbVie’s previous quarterly dividend of $0.96. This represents a $4.28 annualized dividend and a yield of 4.73%. The ex-dividend date of this dividend is Monday, January 14th. AbbVie’s dividend payout ratio is currently 68.57%.

A number of analysts have recently commented on the company. Credit Suisse Group set a $85.00 price objective on AbbVie and gave the stock a “sell” rating in a report on Saturday, October 20th. BMO Capital Markets dropped their price objective on AbbVie from $78.00 to $71.00 and set an “underperform” rating for the company in a report on Monday, November 5th. SunTrust Banks dropped their price objective on AbbVie from $157.00 to $135.00 and set a “buy” rating for the company in a report on Monday, October 22nd. ValuEngine upgraded AbbVie from a “sell” rating to a “hold” rating in a report on Monday, November 12th. Finally, Argus lowered their price target on AbbVie from $130.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, November 6th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. AbbVie currently has an average rating of “Hold” and a consensus price target of $103.68.

In related news, EVP Henry O. Gosebruch sold 42,450 shares of the stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $90.10, for a total value of $3,824,745.00. Following the completion of the sale, the executive vice president now directly owns 30,350 shares in the company, valued at approximately $2,734,535. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is currently owned by corporate insiders.

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AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating 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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