Premier Fund Managers Ltd Raises Holdings in AbbVie Inc. (NYSE:ABBV)

Premier Fund Managers Ltd boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 8.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,240 shares of the company’s stock after buying an additional 6,255 shares during the quarter. Premier Fund Managers Ltd’s holdings in AbbVie were worth $8,131,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. CVA Family Office LLC purchased a new position in AbbVie in the third quarter worth $26,000. Harding Loevner LP grew its holdings in AbbVie by 118.4% in the third quarter. Harding Loevner LP now owns 332 shares of the company’s stock worth $29,000 after purchasing an additional 180 shares during the last quarter. Joseph P. Lucia & Associates LLC purchased a new position in AbbVie in the fourth quarter worth $29,000. James Investment Research Inc. purchased a new position in AbbVie in the third quarter worth $32,000. Finally, Roble Belko & Company Inc grew its holdings in AbbVie by 70.8% in the third quarter. Roble Belko & Company Inc now owns 415 shares of the company’s stock worth $36,000 after purchasing an additional 172 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors.

In other news, EVP Timothy J. Richmond sold 51,990 shares of the business’s stock in a transaction dated Friday, November 27th. The shares were sold at an average price of $105.00, for a total transaction of $5,458,950.00. Following the completion of the sale, the executive vice president now owns 51,990 shares of the company’s stock, valued at $5,458,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 25,290 shares of the business’s stock in a transaction dated Tuesday, December 29th. The stock was sold at an average price of $105.00, for a total transaction of $2,655,450.00. Following the sale, the executive vice president now directly owns 76,259 shares of the company’s stock, valued at approximately $8,007,195. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

ABBV has been the topic of several analyst reports. SVB Leerink lifted their price target on shares of AbbVie from $128.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, February 4th. Sanford C. Bernstein began coverage on shares of AbbVie in a research note on Tuesday, November 10th. They set an “outperform” rating and a $120.00 price objective for the company. BMO Capital Markets began coverage on shares of AbbVie in a research note on Wednesday, November 18th. They set an “outperform” rating and a $123.00 price objective for the company. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $114.00 price objective for the company in a research note on Tuesday, February 9th. Finally, Mizuho lifted their price objective on shares of AbbVie from $117.00 to $126.00 and gave the stock a “buy” rating in a research note on Thursday, February 4th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company’s stock. AbbVie presently has a consensus rating of “Buy” and an average price target of $114.39.

Shares of AbbVie stock traded down $0.11 during trading hours on Tuesday, reaching $106.95. The stock had a trading volume of 118,047 shares, compared to its average volume of 7,651,642. The stock’s 50 day moving average is $107.18 and its 200 day moving average is $97.93. The firm has a market capitalization of $188.82 billion, a PE ratio of 22.66, a PEG ratio of 1.54 and a beta of 0.84. AbbVie Inc. has a twelve month low of $62.55 and a twelve month high of $113.41. The company has a current ratio of 0.95, a quick ratio of 0.81 and a debt-to-equity ratio of 5.38.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Tuesday, February 2nd. The company reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.07. The business had revenue of $13.86 billion during the quarter, compared to the consensus estimate of $13.70 billion. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. The company’s revenue was up 59.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.21 earnings per share. As a group, sell-side analysts predict that AbbVie Inc. will post 10.48 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Stockholders of record on Thursday, April 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Wednesday, April 14th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.86%. AbbVie’s dividend payout ratio is currently 58.17%.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, 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; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; 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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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