AbbVie Inc (ABBV) Position Cut by Tufton Capital Management

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Tufton Capital Management trimmed its holdings in AbbVie Inc (NYSE:ABBV) by 5.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,155 shares of the company’s stock after selling 6,372 shares during the quarter. AbbVie comprises 2.3% of Tufton Capital Management’s portfolio, making the stock its 13th largest holding. Tufton Capital Management’s holdings in AbbVie were worth $10,702,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Good Life Advisors LLC lifted its position in shares of AbbVie by 5.6% during the 2nd quarter. Good Life Advisors LLC now owns 10,060 shares of the company’s stock valued at $933,000 after acquiring an additional 537 shares during the last quarter. Lido Advisors LLC lifted its position in shares of AbbVie by 2.4% during the 2nd quarter. Lido Advisors LLC now owns 23,371 shares of the company’s stock valued at $2,165,000 after acquiring an additional 537 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its position in shares of AbbVie by 1.0% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 56,086 shares of the company’s stock valued at $5,196,000 after acquiring an additional 550 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV lifted its position in shares of AbbVie by 5.6% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 10,631 shares of the company’s stock valued at $985,000 after acquiring an additional 564 shares during the last quarter. Finally, Windsor Capital Management LLC lifted its position in shares of AbbVie by 5.4% during the 2nd quarter. Windsor Capital Management LLC now owns 11,122 shares of the company’s stock valued at $1,030,000 after acquiring an additional 565 shares during the last quarter. 69.26% of the stock is owned by institutional investors and hedge funds.

ABBV opened at $94.27 on Friday. The firm has a market capitalization of $135.24 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 0.84 and a beta of 1.62. AbbVie Inc has a 12-month low of $77.50 and a 12-month high of $125.86. 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 (NYSE:ABBV) last released its earnings results on Friday, November 2nd. The company reported $2.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.01 by $0.13. The company had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.23 billion. AbbVie had a return on equity of 2,006.63% and a net margin of 23.50%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 earnings per share. Sell-side analysts anticipate that AbbVie Inc will post 7.93 EPS for the current fiscal year.

The firm also recently announced 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 of this dividend is Monday, January 14th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.54%. This is a positive change from AbbVie’s previous quarterly dividend of $0.96. AbbVie’s dividend payout ratio is presently 68.57%.

In other news, EVP Henry O. Gosebruch sold 42,450 shares of the stock in a transaction on 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 completion of the sale, the executive vice president now owns 30,350 shares in the company, valued at $2,734,535. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is owned by corporate insiders.

ABBV has been the subject of a number of recent research reports. BMO Capital Markets reiterated a “sell” rating and set a $78.00 price objective on shares of AbbVie in a research report on Wednesday, August 22nd. Wolfe Research initiated coverage on AbbVie in a research report on Tuesday, October 23rd. They set an “underperform” rating for the company. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a research report on Monday, October 1st. Credit Suisse Group set a $85.00 price objective on AbbVie and gave the company a “hold” rating in a research report on Friday, November 2nd. Finally, Barclays reiterated a “hold” rating and set a $90.00 price objective on shares of AbbVie in a research report on Sunday, November 4th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. AbbVie presently has an average rating of “Hold” and a consensus price target of $103.68.

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AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with 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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