Front Barnett Associates LLC reduced its stake in AbbVie Inc (NYSE:ABBV) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,173 shares of the company’s stock after selling 260 shares during the period. Front Barnett Associates LLC’s holdings in AbbVie were worth $661,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Prudential Financial Inc. grew its position in AbbVie by 7.5% during the 4th quarter. Prudential Financial Inc. now owns 2,175,595 shares of the company’s stock worth $200,568,000 after acquiring an additional 152,169 shares during the last quarter. Boston Partners grew its position in AbbVie by 14,770.8% during the 4th quarter. Boston Partners now owns 482,707 shares of the company’s stock worth $44,501,000 after acquiring an additional 479,461 shares during the last quarter. Synovus Financial Corp grew its position in AbbVie by 0.6% during the 4th quarter. Synovus Financial Corp now owns 172,824 shares of the company’s stock worth $15,930,000 after acquiring an additional 1,029 shares during the last quarter. Csenge Advisory Group grew its position in AbbVie by 11.3% during the 4th quarter. Csenge Advisory Group now owns 8,774 shares of the company’s stock worth $808,000 after acquiring an additional 894 shares during the last quarter. Finally, Loudon Investment Management LLC grew its position in AbbVie by 36.7% during the 4th quarter. Loudon Investment Management LLC now owns 36,404 shares of the company’s stock worth $3,356,000 after acquiring an additional 9,771 shares during the last quarter. Institutional investors own 70.66% of the company’s stock.
Shares of ABBV opened at $80.21 on Wednesday. The firm has a market capitalization of $119.53 billion, a price-to-earnings ratio of 10.14, a PEG ratio of 1.66 and a beta of 1.16. AbbVie Inc has a 52 week low of $75.77 and a 52 week high of $107.25.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 25th. The company reported $1.90 EPS for the quarter, missing the Zacks’ consensus estimate of $1.92 by ($0.02). The firm 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 firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.48 earnings per share. On average, equities research analysts predict that AbbVie Inc will post 8.69 earnings per share for the current fiscal year.
The company 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. The ex-dividend date is Friday, April 12th. This represents a $4.28 dividend on an annualized basis and a yield of 5.34%. AbbVie’s payout ratio is 54.11%.
A number of research firms recently commented on ABBV. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Tuesday, January 8th. Bank of America lowered AbbVie from a “buy” rating to a “neutral” rating in a research report on Thursday, January 3rd. UBS Group restated a “neutral” rating and set a $91.00 price target (down from $97.00) on shares of AbbVie in a research report on Wednesday, January 23rd. Credit Suisse Group upgraded AbbVie to a “hold” rating and set a $79.00 price target on the stock in a research report on Thursday, January 17th. Finally, Morgan Stanley set a $88.00 price target on AbbVie and gave the stock a “hold” rating in a research report on Thursday, December 20th. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $94.48.
In other news, Vice Chairman Laura J. Schumacher sold 25,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $80.00, for a total value of $2,000,000.00. Following the transaction, the insider now owns 139,838 shares of the company’s stock, valued at approximately $11,187,040. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 15,797 shares of the 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 41,272 shares of company stock worth $3,286,290 over the last quarter. Corporate insiders own 0.08% of the company’s stock.
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AbbVie Company Profile
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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