Tompkins Financial Corp Increases Stake in AbbVie Inc (ABBV)

Tompkins Financial Corp boosted its position in AbbVie Inc (NYSE:ABBV) by 201.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,383 shares of the company’s stock after purchasing an additional 20,986 shares during the period. Tompkins Financial Corp’s holdings in AbbVie were worth $2,789,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Formidable Asset Management LLC lifted its position in shares of AbbVie by 0.3% during the 2nd quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock valued at $285,000 after acquiring an additional 10 shares during the period. WealthTrust Axiom LLC lifted its position in shares of AbbVie by 0.3% during the 2nd quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock valued at $312,000 after acquiring an additional 15 shares during the period. Abner Herrman & Brock LLC lifted its position in shares of AbbVie by 0.3% during the 2nd quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock valued at $456,000 after acquiring an additional 18 shares during the period. St. Louis Trust Co lifted its position in shares of AbbVie by 0.7% during the 2nd quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock valued at $248,000 after acquiring an additional 23 shares during the period. Finally, TRUE Private Wealth Advisors lifted its position in shares of AbbVie by 0.6% during the 2nd quarter. TRUE Private Wealth Advisors now owns 4,814 shares of the company’s stock valued at $349,000 after acquiring an additional 27 shares during the period. Hedge funds and other institutional investors own 69.18% of the company’s stock.

In other AbbVie news, insider Henry O. Gosebruch sold 18,300 shares of AbbVie stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $90.55, for a total value of $1,657,065.00. Following the completion of the sale, the insider now directly owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Timothy J. Richmond sold 87,040 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the sale, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at $11,136,467.10. The disclosure for this sale can be found here. Insiders sold a total of 494,676 shares of company stock valued at $47,237,938 over the last ninety days. 0.23% of the stock is owned by corporate insiders.

A number of equities research analysts have recently issued reports on ABBV shares. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research report on Tuesday, October 17th. BidaskClub downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 25th. Deutsche Bank lifted their price objective on AbbVie to $88.00 and gave the stock a “hold” rating in a research report on Thursday, September 28th. Jefferies Group restated a “buy” rating and set a $107.00 price objective (up from $94.00) on shares of AbbVie in a research report on Friday, September 15th. Finally, Vetr upgraded AbbVie from a “buy” rating to a “strong-buy” rating and set a $113.08 price objective for the company in a research report on Wednesday, December 20th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $100.94.

AbbVie Inc (NYSE ABBV) traded up $1.07 during mid-day trading on Friday, reaching $100.34. 4,372,638 shares of the company’s stock traded hands, compared to its average volume of 4,460,000. The stock has a market cap of $159,950.00, a PE ratio of 24.35, a P/E/G ratio of 1.20 and a beta of 1.53. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. AbbVie Inc has a 12-month low of $59.27 and a 12-month high of $101.28.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. AbbVie’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.21 EPS. equities analysts anticipate that AbbVie Inc will post 5.55 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a $0.71 dividend. This is a boost from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a yield of 2.83%. The ex-dividend date is Thursday, January 11th. AbbVie’s payout ratio is presently 62.14%.

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AbbVie Profile

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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