Alley Co LLC increased its stake in AbbVie Inc (NYSE:ABBV) by 2.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 87,010 shares of the company’s stock after buying an additional 1,945 shares during the quarter. AbbVie accounts for approximately 2.5% of Alley Co LLC’s portfolio, making the stock its 13th largest holding. Alley Co LLC’s holdings in AbbVie were worth $8,229,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Signature Estate & Investment Advisors LLC purchased a new stake in AbbVie during the third quarter valued at about $112,000. Mainstay Capital Management LLC ADV lifted its holdings in AbbVie by 6,123.5% during the second quarter. Mainstay Capital Management LLC ADV now owns 12,447 shares of the company’s stock valued at $143,000 after purchasing an additional 12,247 shares during the last quarter. First Mercantile Trust Co. purchased a new stake in AbbVie during the second quarter valued at about $150,000. MUFG Securities EMEA plc purchased a new stake in AbbVie during the second quarter valued at about $157,000. Finally, Kiley Juergens Wealth Management LLC lifted its holdings in AbbVie by 69.3% during the third quarter. Kiley Juergens Wealth Management LLC now owns 1,761 shares of the company’s stock valued at $166,000 after purchasing an additional 721 shares during the last quarter. 69.85% of the stock is currently owned by institutional investors.
Shares of ABBV opened at $90.55 on Thursday. AbbVie Inc has a twelve month low of $77.50 and a twelve month high of $125.86. The stock has a market cap of $141.80 billion, a PE ratio of 16.17, a P/E/G ratio of 0.87 and a beta of 1.68. The company has a current ratio of 1.20, a quick ratio of 1.08 and a debt-to-equity ratio of 8.70.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, November 2nd. The company reported $2.14 earnings per share for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the prior year, the business posted $1.41 earnings per share. The company’s revenue was up 17.7% on a year-over-year basis. As a group, sell-side analysts predict that AbbVie Inc will post 7.93 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Tuesday, January 15th will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.73%. 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 68.57%.
ABBV has been the topic of several recent research reports. BMO Capital Markets reaffirmed a “sell” rating and set a $78.00 price objective on shares of AbbVie in a report on Wednesday, August 22nd. Bank of America upped 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. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research report on Monday, October 1st. Credit Suisse Group set a $85.00 price target on AbbVie and gave the company a “hold” rating in a research report on Sunday, October 14th. Finally, ValuEngine cut AbbVie from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. AbbVie currently has an average rating of “Hold” and an average target price of $103.68.
In related news, EVP Henry O. Gosebruch sold 42,450 shares of the company’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $90.10, for a total value of $3,824,745.00. Following the transaction, the executive vice president now directly owns 30,350 shares in the company, valued at $2,734,535. The transaction was disclosed in a document filed 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 Company 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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