Signature Wealth Management Group Has $2.57 Million Stake in AbbVie Inc (ABBV)

Signature Wealth Management Group lifted its stake in AbbVie Inc (NYSE:ABBV) by 6.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,599 shares of the company’s stock after acquiring an additional 1,795 shares during the period. AbbVie makes up about 1.9% of Signature Wealth Management Group’s holdings, making the stock its 25th largest holding. Signature Wealth Management Group’s holdings in AbbVie were worth $2,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC bought a new stake in AbbVie during the third quarter worth about $112,000. First Mercantile Trust Co. bought a new stake in AbbVie during the second quarter worth about $150,000. MUFG Securities EMEA plc bought a new stake in AbbVie during the second quarter worth about $157,000. Kiley Juergens Wealth Management LLC lifted its stake in AbbVie by 69.3% during 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. Finally, S. R. Schill & Associates bought a new stake in AbbVie during the second quarter worth about $200,000. 69.85% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Henry O. Gosebruch sold 42,450 shares of AbbVie stock in a transaction dated 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 transaction, the executive vice president now 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 this link. 0.07% of the stock is currently owned by insiders.

Several equities research analysts have issued reports on the company. BMO Capital Markets dropped their price target on AbbVie from $78.00 to $71.00 and set an “underperform” rating for the company in a research note on Monday, November 5th. Credit Suisse Group set a $85.00 price target on AbbVie and gave the stock a “hold” rating in a research note on Friday, November 2nd. ValuEngine raised AbbVie from a “sell” rating to a “hold” rating in a research note on Monday, November 12th. Bank of America lifted their price target on AbbVie from $105.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, August 22nd. Finally, Argus dropped their price target on AbbVie from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, November 6th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. AbbVie has a consensus rating of “Hold” and an average price target of $103.68.

ABBV opened at $90.33 on Friday. The stock has a market capitalization of $136.21 billion, a PE ratio of 16.13, a P/E/G ratio of 0.84 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 Inc has a 12 month low of $77.50 and a 12 month high of $125.86.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, November 2nd. The company reported $2.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.01 by $0.13. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.23 billion. AbbVie had a return on equity of 2,006.63% and a net margin of 23.50%. The company’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 earnings per share. On average, analysts predict that AbbVie Inc will post 7.93 earnings per share for the current year.

The business also recently disclosed 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. The ex-dividend date is Monday, January 14th. 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. AbbVie’s payout ratio is currently 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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