AbbVie Inc (ABBV) Holdings Increased by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. boosted its holdings in AbbVie Inc (NYSE:ABBV) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 94,185 shares of the company’s stock after acquiring an additional 1,145 shares during the quarter. AbbVie comprises approximately 2.5% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 4th biggest holding. Penobscot Investment Management Company Inc.’s holdings in AbbVie were worth $8,369,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Formidable Asset Management LLC boosted its stake in shares of AbbVie by 0.3% during the second 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 last quarter. WealthTrust Axiom LLC boosted its stake in shares of AbbVie by 0.3% during the second 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 last quarter. Abner Herrman & Brock LLC boosted its stake in shares of AbbVie by 0.3% during the second 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 last quarter. St. Louis Trust Co boosted its stake in shares of AbbVie by 0.7% during the second 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 last quarter. Finally, TRUE Private Wealth Advisors boosted its stake in shares of AbbVie by 0.6% during the second 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 last quarter. Hedge funds and other institutional investors own 69.19% of the company’s stock.

ABBV has been the topic of a number of analyst reports. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research note on Tuesday, October 17th. BidaskClub lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 25th. Deutsche Bank raised their price target on AbbVie to $88.00 and gave the stock a “hold” rating in a research note on Thursday, September 28th. Vetr raised AbbVie from a “buy” rating to a “strong-buy” rating and set a $113.08 price target on the stock in a research note on Wednesday, December 20th. Finally, Cowen raised AbbVie from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $91.17 to $105.00 in a research note on Wednesday, October 11th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $101.38.

Shares of AbbVie Inc (ABBV) traded up $0.83 during trading hours on Friday, hitting $104.64. The company had a trading volume of 4,984,487 shares, compared to its average volume of 4,530,000. The stock has a market cap of $166,810.00, a P/E ratio of 25.40, a P/E/G ratio of 1.22 and a beta of 1.53. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08. AbbVie Inc has a 1-year low of $59.27 and a 1-year high of $104.87.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. During the same period last year, the business posted $1.21 EPS. The company’s revenue was up 8.8% on a year-over-year basis. equities research analysts expect that AbbVie Inc will post 5.56 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a dividend of $0.71 per share. The ex-dividend date is Thursday, January 11th. This is an increase from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a yield of 2.71%. AbbVie’s payout ratio is currently 68.93%.

In other news, insider Henry O. Gosebruch sold 18,300 shares of AbbVie stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $90.55, for a total value of $1,657,065.00. Following the completion of the transaction, the insider now owns 81,287 shares in the company, valued at approximately $7,360,537.85. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the completion of the transaction, the chairman now owns 492,030 shares of the company’s stock, valued at approximately $46,255,740.30. The disclosure for this sale can be found here. Insiders have sold a total of 494,676 shares of company stock worth $47,237,938 over the last 90 days. 0.23% of the stock is owned by company insiders.

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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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