Whitnell & Co. Boosts Stock Holdings in AbbVie Inc (NYSE:ABBV)

Whitnell & Co. boosted its stake in AbbVie Inc (NYSE:ABBV) by 4.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 48,869 shares of the company’s stock after acquiring an additional 2,180 shares during the quarter. AbbVie accounts for about 1.2% of Whitnell & Co.’s portfolio, making the stock its 26th biggest holding. Whitnell & Co.’s holdings in AbbVie were worth $3,700,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Arbor Wealth Management LLC acquired a new stake in AbbVie in the 2nd quarter valued at $28,000. Lowe Wealth Advisors LLC grew its stake in AbbVie by 206.7% in the 2nd quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock valued at $33,000 after acquiring an additional 310 shares during the period. Horrell Capital Management Inc. acquired a new stake in AbbVie in the 2nd quarter valued at $33,000. TD Capital Management LLC acquired a new stake in AbbVie in the 2nd quarter valued at $33,000. Finally, Financial Gravity Wealth Inc. grew its stake in AbbVie by 82.9% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 503 shares of the company’s stock valued at $37,000 after acquiring an additional 228 shares during the period. 68.38% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have issued reports on the stock. Citigroup raised shares of AbbVie from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $87.00 to $90.00 in a research note on Thursday, September 26th. Cowen set a $90.00 target price on shares of AbbVie and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Piper Jaffray Companies lifted their target price on shares of AbbVie from $81.00 to $90.00 in a research note on Friday, November 1st. UBS Group raised shares of AbbVie from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $85.00 to $79.00 in a research note on Thursday, September 12th. Finally, ValuEngine raised shares of AbbVie from a “strong sell” rating to a “sell” rating in a research note on Monday, September 30th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $84.88.

In related news, SVP Jeffrey Ryan Stewart acquired 15,552 shares of AbbVie stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average cost of $64.44 per share, for a total transaction of $1,002,170.88. Following the acquisition, the senior vice president now owns 65,304 shares in the company, valued at $4,208,189.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy J. Richmond sold 15,515 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $75.02, for a total transaction of $1,163,935.30. The disclosure for this sale can be found here. In the last quarter, insiders have bought 88,077 shares of company stock worth $4,401,551. Insiders own 0.08% of the company’s stock.

Shares of NYSE ABBV traded up $3.20 during trading on Friday, hitting $85.21. 11,307,381 shares of the company were exchanged, compared to its average volume of 7,972,123. AbbVie Inc has a 12-month low of $62.66 and a 12-month high of $94.98. The company has a fifty day moving average price of $76.28 and a 200-day moving average price of $73.49. The firm has a market capitalization of $121.00 billion, a PE ratio of 10.77, a P/E/G ratio of 2.04 and a beta of 0.98.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, November 1st. The company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.29 by $0.04. AbbVie had a negative return on equity of 155.71% and a net margin of 9.90%. The business had revenue of $8.48 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the previous year, the firm earned $2.14 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, analysts anticipate that AbbVie Inc will post 8.93 EPS for the current year.

The business also recently declared a — dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a dividend yield of 6.4%. AbbVie’s dividend payout ratio is presently 54.11%.

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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