Oppenheimer Asset Management Inc. cut its holdings in AbbVie Inc (NYSE:ABBV) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,708 shares of the company’s stock after selling 3,998 shares during the period. Oppenheimer Asset Management Inc.’s holdings in AbbVie were worth $8,179,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of ABBV. Horrell Capital Management Inc. bought a new stake in AbbVie in the 4th quarter worth approximately $41,000. Massey Quick Simon & CO. LLC bought a new position in shares of AbbVie during the 4th quarter valued at approximately $64,000. Lenox Wealth Management Inc. bought a new position in shares of AbbVie during the 4th quarter valued at approximately $88,000. Brand Asset Management Group Inc. increased its position in shares of AbbVie by 60.7% during the 4th quarter. Brand Asset Management Group Inc. now owns 1,059 shares of the company’s stock valued at $98,000 after purchasing an additional 400 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC bought a new position in shares of AbbVie during the 3rd quarter valued at approximately $112,000. 68.40% of the stock is currently owned by institutional investors.
Several equities analysts have recently weighed in on the company. ValuEngine raised AbbVie from a “strong sell” rating to a “sell” rating in a research report on Friday. Barclays reissued a “hold” rating and set a $86.00 target price on shares of AbbVie in a research report on Thursday, February 14th. Credit Suisse Group set a $79.00 target price on AbbVie and gave the company a “hold” rating in a research report on Friday, January 25th. Zacks Investment Research downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Wednesday, January 23rd. Finally, UBS Group reissued a “neutral” rating and set a $91.00 target price (down previously from $97.00) on shares of AbbVie in a research report on Wednesday, January 23rd. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. AbbVie currently has an average rating of “Hold” and an average target price of $94.48.
Shares of AbbVie stock opened at $79.95 on Friday. The firm has a market capitalization of $116.15 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 1.19 and a beta of 1.17. AbbVie Inc has a 52 week low of $75.77 and a 52 week high of $119.50.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 25th. The company reported $1.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.92 by ($0.02). The business had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $8.37 billion. AbbVie had a net margin of 17.36% and a negative return on equity of 439.07%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $1.48 EPS. On average, equities research analysts expect that AbbVie Inc will post 8.68 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 5.35%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.
AbbVie declared that its Board of Directors has approved a stock buyback plan on Thursday, December 13th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 3.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
In other AbbVie news, Vice Chairman Laura J. Schumacher sold 25,000 shares of the company’s stock in a transaction on Friday, December 28th. The stock was sold at an average price of $90.00, for a total value of $2,250,000.00. Following the transaction, the insider now owns 134,322 shares of the company’s stock, valued at approximately $12,088,980. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 15,797 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $79.03, for a total value of $1,248,436.91. Following the completion of the transaction, the executive vice president now directly owns 93,312 shares in the company, valued at approximately $7,374,447.36. The disclosure for this sale can be found here. Insiders sold a total of 65,797 shares of company stock worth $5,748,437 in the last ninety days. 0.07% of the stock is currently owned by corporate insiders.
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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 to treat adults with genotype 1 chronic hepatitis C.
See Also: Special Dividends
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