Becker Capital Management Inc. raised its stake in AbbVie Inc (NYSE:ABBV) by 36.7% during the 3rd quarter, Holdings Channel reports. The firm owned 7,184 shares of the company’s stock after buying an additional 1,929 shares during the period. Becker Capital Management Inc.’s holdings in AbbVie were worth $638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in ABBV. Bristol Advisors LLC acquired a new position in shares of AbbVie in the third quarter valued at about $316,000. Penobscot Investment Management Company Inc. grew its stake in shares of AbbVie by 1.2% in the third quarter. Penobscot Investment Management Company Inc. now owns 94,185 shares of the company’s stock valued at $8,369,000 after acquiring an additional 1,145 shares in the last quarter. Portland Global Advisors LLC acquired a new position in shares of AbbVie in the third quarter valued at about $230,000. Physicians Financial Services Inc. acquired a new position in shares of AbbVie in the third quarter valued at about $243,000. Finally, Nwam LLC grew its stake in shares of AbbVie by 17.1% in the third quarter. Nwam LLC now owns 5,311 shares of the company’s stock valued at $472,000 after acquiring an additional 776 shares in the last quarter. Hedge funds and other institutional investors own 69.18% of the company’s stock.
Several research firms recently commented on ABBV. Vetr downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 price target on the stock. in a research note on Monday, January 8th. Zacks Investment Research cut shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Jefferies Group upped their price objective on shares of AbbVie from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. BMO Capital Markets set a $84.00 price objective on shares of AbbVie and gave the stock a “hold” rating in a research report on Thursday. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of AbbVie in a research report on Tuesday, January 2nd. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $100.94.
Shares of AbbVie Inc (ABBV) opened at $100.34 on Friday. The firm has a market cap of $159,950.00, a PE ratio of 24.35, a P/E/G ratio of 1.18 and a beta of 1.53. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. AbbVie Inc has a 52-week low of $59.27 and a 52-week high of $101.28.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates 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%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.21 earnings per share. analysts expect that AbbVie Inc will post 5.55 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.83%. This is a boost from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio is 68.93%.
In other news, insider Laura J. Schumacher sold 145,510 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $96.71, for a total value of $14,072,272.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Timothy J. Richmond sold 87,040 shares of the stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the completion of the transaction, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The disclosure for this sale can be found here. Insiders sold 494,676 shares of company stock valued at $47,237,938 in the last three months. Company insiders own 0.23% of the company’s stock.
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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.
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