Valmark Advisers Inc. increased its holdings in AbbVie Inc (NYSE:ABBV) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,288 shares of the company’s stock after acquiring an additional 261 shares during the period. Valmark Advisers Inc.’s holdings in AbbVie were worth $400,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Cetera Advisors LLC lifted its stake in AbbVie by 5.5% in the 3rd quarter. Cetera Advisors LLC now owns 35,556 shares of the company’s stock worth $2,703,000 after acquiring an additional 1,849 shares in the last quarter. Trillium Asset Management LLC purchased a new stake in shares of AbbVie during the 3rd quarter worth about $318,000. Goelzer Investment Management Inc. increased its holdings in shares of AbbVie by 0.4% during the 3rd quarter. Goelzer Investment Management Inc. now owns 55,985 shares of the company’s stock valued at $4,239,000 after acquiring an additional 206 shares during the last quarter. Tiedemann Advisors LLC increased its holdings in shares of AbbVie by 36.6% during the 3rd quarter. Tiedemann Advisors LLC now owns 16,162 shares of the company’s stock valued at $1,226,000 after acquiring an additional 4,333 shares during the last quarter. Finally, Shoker Investment Counsel Inc. increased its holdings in shares of AbbVie by 6.4% during the 3rd quarter. Shoker Investment Counsel Inc. now owns 26,111 shares of the company’s stock valued at $1,977,000 after acquiring an additional 1,574 shares during the last quarter. 68.45% of the stock is owned by hedge funds and other institutional investors.
ABBV traded up $1.44 during midday trading on Friday, reaching $89.07. The company’s stock had a trading volume of 5,290,002 shares, compared to its average volume of 8,343,745. The stock has a market cap of $127.83 billion, a P/E ratio of 11.26, a PEG ratio of 2.15 and a beta of 0.98. The company has a fifty day simple moving average of $77.63 and a 200 day simple moving average of $73.68. AbbVie Inc has a twelve month low of $62.66 and a twelve month high of $94.98.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, November 1st. The company reported $2.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.04. AbbVie had a negative return on equity of 155.96% and a net margin of 9.90%. The company had revenue of $8.48 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter last year, the firm earned $2.14 EPS. AbbVie’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, sell-side analysts expect that AbbVie Inc will post 8.93 earnings per share for the current year.
The company also recently disclosed a — dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.07 per share. This represents a dividend yield of 6.4%. The ex-dividend date of this dividend is Friday, October 11th. AbbVie’s payout ratio is presently 54.11%.
In other AbbVie news, EVP Timothy J. Richmond sold 15,515 shares of AbbVie stock in a transaction on Friday, September 27th. The stock was sold at an average price of $75.02, for a total value of $1,163,935.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nicholas Donoghoe acquired 7,525 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was acquired at an average price of $66.19 per share, with a total value of $498,079.75. Following the transaction, the senior vice president now owns 13,090 shares in the company, valued at approximately $866,427.10. The disclosure for this purchase can be found here. 0.08% of the stock is currently owned by company insiders.
A number of brokerages have recently commented on ABBV. UBS Group raised AbbVie from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $85.00 to $79.00 in a report on Thursday, September 12th. Piper Jaffray Companies raised their target price on AbbVie from $81.00 to $90.00 in a report on Friday, November 1st. TheStreet lowered AbbVie from a “b-” rating to a “c” rating in a report on Monday, August 26th. Cowen set a $90.00 target price on AbbVie and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, ValuEngine raised AbbVie from a “strong sell” rating to a “sell” rating in a report on Monday, September 30th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $84.88.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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