ERTS Wealth Advisors LLC acquired a new position in shares of AbbVie Inc (NYSE:ABBV) during the 4th quarter, Holdings Channel reports. The fund acquired 776 shares of the company’s stock, valued at approximately $72,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital International Investors boosted its position in shares of AbbVie by 266.4% during the third quarter. Capital International Investors now owns 27,594,648 shares of the company’s stock valued at $2,609,902,000 after buying an additional 20,063,435 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of AbbVie by 4,385.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 15,195,586 shares of the company’s stock valued at $165,000 after buying an additional 14,856,786 shares during the period. Capital World Investors boosted its position in shares of AbbVie by 74.9% during the third quarter. Capital World Investors now owns 25,359,025 shares of the company’s stock valued at $2,398,457,000 after buying an additional 10,858,432 shares during the period. Matthew Goff Investment Advisor LLC boosted its position in shares of AbbVie by 9,165.1% during the third quarter. Matthew Goff Investment Advisor LLC now owns 2,226,305 shares of the company’s stock valued at $24,029,000 after buying an additional 2,202,276 shares during the period. Finally, Federated Investors Inc. PA boosted its position in shares of AbbVie by 66.8% during the third quarter. Federated Investors Inc. PA now owns 3,669,632 shares of the company’s stock valued at $347,074,000 after buying an additional 1,469,718 shares during the period. 70.53% of the stock is currently owned by institutional investors.
A number of analysts recently issued reports on the company. Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. BMO Capital Markets upgraded AbbVie from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $71.00 to $79.00 in a report on Sunday, April 28th. Argus lowered AbbVie from a “buy” rating to a “hold” rating in a report on Monday, March 25th. Barclays reiterated a “hold” rating and issued a $86.00 price target on shares of AbbVie in a report on Thursday, February 14th. Finally, Credit Suisse Group set a $79.00 price target on AbbVie and gave the company a “hold” rating in a report on Friday, January 25th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $94.95.
AbbVie stock opened at $79.50 on Friday. The firm has a market cap of $116.46 billion, a price-to-earnings ratio of 10.05, a P/E/G ratio of 1.61 and a beta of 1.14. AbbVie Inc has a twelve month low of $75.62 and a twelve month high of $107.25.
AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, April 25th. The company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.08. The company had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.81 billion. AbbVie had a negative return on equity of 221.09% and a net margin of 16.42%. AbbVie’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.87 earnings per share. As a group, equities analysts forecast that AbbVie Inc will post 8.83 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th were issued a dividend of $1.07 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $4.28 dividend on an annualized basis and a yield of 5.38%. AbbVie’s dividend payout ratio is currently 54.11%.
In other AbbVie news, Vice Chairman Laura J. Schumacher sold 25,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $80.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the insider now owns 139,838 shares in the company, valued at $11,187,040. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Brian L. Durkin sold 475 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $79.69, for a total value of $37,852.75. Following the sale, the vice president now owns 9,121 shares of the company’s stock, valued at approximately $726,852.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,272 shares of company stock valued at $3,286,290. 0.08% of the stock is owned by company insiders.
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.
Further Reading: What is the downside to momentum investing?
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc (NYSE:ABBV).
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.