Mayo Investment Advisers LLC cut its stake in AbbVie Inc (NYSE:ABBV) by 2.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 18,850 shares of the company’s stock after selling 400 shares during the period. Mayo Investment Advisers LLC’s holdings in AbbVie were worth $1,180,000 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 purchased a new stake in AbbVie during the fourth quarter valued at about $568,000. Credit Agricole S A boosted its stake in AbbVie by 3.3% in the fourth quarter. Credit Agricole S A now owns 810,517 shares of the company’s stock valued at $50,755,000 after buying an additional 26,030 shares in 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.
AbbVie Inc (NYSE:ABBV) traded up 0.06% during trading on Friday, hitting $63.82. 4,154,869 shares of the stock traded hands. AbbVie Inc has a 52-week low of $55.06 and a 52-week high of $68.12. The stock 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.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Thursday, April 13th will be issued a $0.64 dividend. The ex-dividend date is Tuesday, April 11th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 4.01%. AbbVie’s dividend payout ratio (DPR) is 70.52%.
ILLEGAL ACTIVITY WARNING: This news story was originally published by Transcript Daily and is owned by of Transcript Daily. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The correct version of this news story can be viewed at https://transcriptdaily.com/2017/04/22/mayo-investment-advisers-llc-sells-400-shares-of-abbvie-inc-abbv.html.
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 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 other news, VP Robert A. Michael sold 5,132 shares of the firm’s stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $65.29, for a total value of $335,068.28. Following the transaction, the vice president now directly owns 16,706 shares in the company, valued at approximately $1,090,734.74. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Richard A. Gonzalez sold 72,016 shares of the firm’s 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 completion of 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. Over the last 90 days, insiders sold 139,599 shares of company stock worth $9,038,322. Company insiders own 0.11% of the company’s stock.
AbbVie Company Profile
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.
