AMG National Trust Bank grew its holdings in AbbVie Inc. (NYSE:ABBV) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 82,586 shares of the company’s stock after purchasing an additional 4,532 shares during the quarter. AMG National Trust Bank’s holdings in AbbVie were worth $7,987,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Ffcm LLC grew its position in AbbVie by 167.2% during the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after buying an additional 963 shares in the last quarter. Hershey Trust Co. acquired a new stake in AbbVie during the third quarter worth about $139,000. Harvest Fund Management Co. Ltd lifted its stake in AbbVie by 1,172.6% during the second quarter. Harvest Fund Management Co. Ltd now owns 2,227 shares of the company’s stock worth $161,000 after purchasing an additional 2,052 shares during the period. Acropolis Investment Management LLC lifted its stake in AbbVie by 68.3% during the fourth quarter. Acropolis Investment Management LLC now owns 1,855 shares of the company’s stock worth $179,000 after purchasing an additional 753 shares during the period. Finally, Acrospire Investment Management LLC lifted its stake in AbbVie by 223.9% during the second quarter. Acrospire Investment Management LLC now owns 2,604 shares of the company’s stock worth $189,000 after purchasing an additional 1,800 shares during the period. 70.65% of the stock is currently owned by institutional investors.
Shares of ABBV stock opened at $93.17 on Tuesday. AbbVie Inc. has a 12-month low of $64.26 and a 12-month high of $125.86. The firm has a market capitalization of $147,046.30, a PE ratio of 16.64, a PEG ratio of 0.89 and a beta of 1.61. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.28 and a quick ratio of 1.18.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.04. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The company had revenue of $7.74 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same quarter in the previous year, the business earned $1.20 EPS. The firm’s revenue was up 13.9% on a year-over-year basis. equities analysts expect that AbbVie Inc. will post 7.57 EPS for the current fiscal year.
AbbVie announced that its Board of Directors has approved a stock repurchase program on Thursday, February 15th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be given a $0.96 dividend. This is a boost from AbbVie’s previous quarterly dividend of $0.71. This represents a $3.84 annualized dividend and a yield of 4.12%. The ex-dividend date is Thursday, April 12th. AbbVie’s payout ratio is currently 68.57%.
In other AbbVie news, CFO William J. Chase sold 70,928 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $117.18, for a total transaction of $8,311,343.04. Following the sale, the chief financial officer now directly owns 203,391 shares of the company’s stock, valued at approximately $23,833,357.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Carlos Alban sold 83,574 shares of the business’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $114.49, for a total transaction of $9,568,387.26. Following the sale, the executive vice president now directly owns 133,026 shares in the company, valued at $15,230,146.74. The disclosure for this sale can be found here. Insiders sold a total of 211,197 shares of company stock worth $24,585,575 over the last ninety days. 0.07% of the stock is currently owned by insiders.
A number of research firms have recently issued reports on ABBV. SunTrust Banks lifted their target price on shares of AbbVie to $157.00 and gave the company an “average” rating in a research note on Monday, January 29th. Piper Jaffray boosted their price objective on shares of AbbVie from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Leerink Swann cut shares of AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 price objective for the company. in a research report on Monday, January 29th. BMO Capital Markets cut shares of AbbVie from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $125.86 to $84.00 in a research report on Monday, January 29th. They noted that the move was a valuation call. Finally, Evercore ISI reaffirmed a “buy” rating and set a $144.00 target price on shares of AbbVie in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $117.85.
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 to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
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