Roman Butler Fullerton & Co. Lowers Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Roman Butler Fullerton & Co. lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 4.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,269 shares of the company’s stock after selling 191 shares during the period. Roman Butler Fullerton & Co.’s holdings in AbbVie were worth $374,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of AbbVie by 17.3% during the second quarter. Vanguard Group Inc. now owns 147,386,808 shares of the company’s stock worth $14,470,438,000 after buying an additional 21,786,239 shares during the last quarter. BlackRock Inc. grew its holdings in shares of AbbVie by 21.7% during the second quarter. BlackRock Inc. now owns 123,356,424 shares of the company’s stock worth $12,111,133,000 after buying an additional 21,974,440 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of AbbVie by 46.4% during the second quarter. Nuveen Asset Management LLC now owns 22,124,489 shares of the company’s stock worth $2,172,182,000 after buying an additional 7,007,887 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of AbbVie by 15.0% during the second quarter. Bank of New York Mellon Corp now owns 21,387,563 shares of the company’s stock worth $2,099,832,000 after buying an additional 2,797,448 shares during the last quarter. Finally, Morgan Stanley lifted its position in AbbVie by 6.9% in the first quarter. Morgan Stanley now owns 10,756,410 shares of the company’s stock valued at $819,530,000 after purchasing an additional 696,233 shares during the period. 68.23% of the stock is currently owned by hedge funds and other institutional investors.

ABBV stock opened at $86.27 on Friday. The firm has a 50 day moving average of $89.38 and a 200-day moving average of $90.44. AbbVie Inc. has a 12-month low of $62.55 and a 12-month high of $101.28. The company has a current ratio of 0.86, a quick ratio of 0.70 and a debt-to-equity ratio of 5.57. The company has a market cap of $152.25 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 1.42 and a beta of 0.74.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 31st. The company reported $2.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.14. AbbVie had a negative return on equity of 628.57% and a net margin of 19.20%. The firm had revenue of $10.43 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the previous year, the firm posted $2.26 EPS. The company’s quarterly revenue was up 26.3% compared to the same quarter last year. Sell-side analysts forecast that AbbVie Inc. will post 10.44 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be given a dividend of $1.18 per share. The ex-dividend date is Wednesday, October 14th. This represents a $4.72 annualized dividend and a dividend yield of 5.47%. AbbVie’s dividend payout ratio is currently 52.80%.

A number of equities research analysts recently commented on ABBV shares. Royal Bank of Canada raised their price objective on shares of AbbVie from $125.00 to $127.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Berenberg Bank started coverage on shares of AbbVie in a research report on Tuesday, September 29th. They issued a “hold” rating and a $98.00 price objective for the company. Morgan Stanley raised their price objective on shares of AbbVie from $95.00 to $108.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th. JPMorgan Chase & Co. raised their price objective on shares of AbbVie from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Mizuho restated a “buy” rating and issued a $111.00 price objective on shares of AbbVie in a research report on Sunday, September 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $108.63.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, 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; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; 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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