Farmers & Merchants Investments Inc. Cuts Position in AbbVie Inc (ABBV)

Farmers & Merchants Investments Inc. cut its stake in AbbVie Inc (NYSE:ABBV) by 0.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 109,003 shares of the company’s stock after selling 931 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in AbbVie were worth $10,310,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Signature Estate & Investment Advisors LLC bought a new stake in AbbVie in the third quarter worth $112,000. Mainstay Capital Management LLC ADV lifted its stake in AbbVie by 6,123.5% in the second 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 stake in AbbVie in the second quarter worth $150,000. MUFG Securities EMEA plc bought a new stake in AbbVie in the second quarter worth $157,000. Finally, Kiley Juergens Wealth Management LLC lifted its stake in AbbVie by 69.3% in the third quarter. Kiley Juergens Wealth Management LLC now owns 1,761 shares of the company’s stock worth $166,000 after purchasing an additional 721 shares during the last quarter. Institutional investors own 69.85% of the company’s stock.

In related news, EVP Henry O. Gosebruch sold 42,450 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 30,350 shares of the company’s stock, valued at $2,734,535. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.07% of the company’s stock.

ABBV has been the subject of several recent research reports. BMO Capital Markets reissued a “sell” rating and issued a $78.00 price target on shares of AbbVie in a research note on Wednesday, August 22nd. Bank of America boosted their price target on shares of AbbVie from $105.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, August 22nd. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a research note on Monday, October 1st. Credit Suisse Group set a $85.00 price objective on shares of AbbVie and gave the company a “hold” rating in a research note on Sunday, October 14th. Finally, ValuEngine downgraded shares of AbbVie from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $103.68.

Shares of NYSE:ABBV opened at $90.33 on Friday. The stock has a market cap of $136.21 billion, a PE ratio of 16.13, a PEG ratio of 0.84 and a beta of 1.68. The company has a quick ratio of 1.08, a current ratio of 1.20 and a debt-to-equity ratio of 8.70. AbbVie Inc has a 12 month low of $77.50 and a 12 month high of $125.86.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, November 2nd. The company reported $2.14 EPS for the quarter, beating the consensus estimate of $2.01 by $0.13. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.23 billion. AbbVie had a net margin of 23.50% and a return on equity of 2,006.63%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.41 earnings per share. On average, equities analysts anticipate that AbbVie Inc will post 7.93 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Tuesday, January 15th will be paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.74%. This is an increase 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%.

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About AbbVie

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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