Bank of Nova Scotia Trust Co. cut its stake in AbbVie Inc (NYSE:ABBV) by 3.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 8,516 shares of the company’s stock after selling 299 shares during the period. Bank of Nova Scotia Trust Co.’s holdings in AbbVie were worth $533,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in AbbVie by 5,766.3% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 178,217 shares of the company’s stock valued at $178,000 after buying an additional 175,179 shares in the last quarter. Cim Investment Mangement Inc. boosted its stake in AbbVie by 1.5% in the fourth quarter. Cim Investment Mangement Inc. now owns 18,223 shares of the company’s stock valued at $1,141,000 after buying an additional 270 shares in the last quarter. Diligent Investors LLC bought a new position in shares of AbbVie during the fourth quarter worth approximately $568,000. Credit Agricole S A raised its position in shares of AbbVie by 3.3% in the fourth quarter. Credit Agricole S A now owns 810,517 shares of the company’s stock worth $50,755,000 after buying an additional 26,030 shares during the last quarter. Finally, Gideon Capital Advisors Inc. bought a new position in shares of AbbVie during the fourth quarter worth approximately $418,000. Institutional investors and hedge funds own 66.67% of the company’s stock.
Shares of AbbVie Inc (NYSE:ABBV) traded up 0.06% during trading on Friday, reaching $63.82. 4,154,869 shares of the company’s stock traded hands. The company has a 50 day moving average price of $64.96 and a 200-day moving average price of $62.19. The stock has a market cap of $101.72 billion, a P/E ratio of 17.58 and a beta of 1.57. AbbVie Inc has a one year low of $55.06 and a one year high of $68.12.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Thursday, April 13th will be given a dividend of $0.64 per share. The ex-dividend date is Tuesday, April 11th. This represents a $2.56 annualized dividend and a yield of 4.01%. AbbVie’s dividend payout ratio (DPR) is presently 70.52%.
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A number of brokerages have recently commented on ABBV. Leerink Swann set a $71.00 price target on shares of AbbVie and gave the stock a “hold” rating in a report on Thursday. BMO Capital Markets reaffirmed a “hold” rating and set a $63.00 target price on shares of AbbVie in a report on Tuesday. Societe Generale raised shares of AbbVie from a “sell” rating to a “hold” rating in a research report on Wednesday, March 22nd. Vetr raised shares of AbbVie from a “hold” rating to a “strong-buy” rating and set a $74.72 price target for the company in a research report on Monday, March 13th. Finally, Goldman Sachs Group Inc raised shares of AbbVie from a “buy” rating to a “conviction-buy” rating and increased their price target for the company from $74.00 to $80.00 in a research report on Saturday, March 11th. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $72.23.
In related news, SVP Timothy J. Richmond sold 22,451 shares of the stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $65.29, for a total transaction of $1,465,825.79. Following the transaction, the senior vice president now directly owns 26,078 shares in the company, valued at $1,702,632.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Richard A. Gonzalez sold 72,016 shares of the stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $64.25, for a total value of $4,627,028.00. Following the transaction, the chairman now owns 369,113 shares in the company, valued at $23,715,510.25. The disclosure for this sale can be found here. Insiders have sold 139,599 shares of company stock worth $9,038,322 over the last quarter. 0.11% of the stock is currently owned by company insiders.
About AbbVie
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.
