First Houston Capital Inc. Grows Holdings in AbbVie Inc. (ABBV)

First Houston Capital Inc. raised its stake in AbbVie Inc. (NYSE:ABBV) by 15.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,500 shares of the company’s stock after purchasing an additional 1,400 shares during the quarter. First Houston Capital Inc.’s holdings in AbbVie were worth $761,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Acropolis Investment Management LLC purchased a new position in AbbVie in the second quarter valued at about $106,000. Franklin Parlapiano Turner & Welch LLC purchased a new position in AbbVie in the first quarter valued at about $108,000. Atwood & Palmer Inc. raised its position in AbbVie by 1,333.3% in the first quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock valued at $140,000 after purchasing an additional 2,000 shares during the period. Tradewinds Capital Management LLC grew its stake in shares of AbbVie by 87.2% during the first quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock valued at $148,000 after acquiring an additional 1,057 shares in the last quarter. Finally, Exane Asset Management acquired a new stake in shares of AbbVie during the second quarter valued at about $181,000. 68.16% of the stock is currently owned by institutional investors.

AbbVie Inc. (NYSE ABBV) opened at $94.75 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. AbbVie Inc. has a twelve month low of $58.60 and a twelve month high of $98.26. The stock has a market cap of $151,852.42, a PE ratio of 17.91, a price-to-earnings-growth ratio of 1.32 and a beta of 1.51.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter last year, the company posted $1.21 earnings per share. AbbVie’s revenue was up 8.8% on a year-over-year basis. equities analysts expect that AbbVie Inc. will post 5.55 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a $0.71 dividend. The ex-dividend date is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a yield of 3.00%. This is a boost from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio (DPR) is currently 62.29%.

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In other news, SVP Azita Saleki-Gerhardt sold 8,300 shares of AbbVie stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $85.02, for a total transaction of $705,666.00. Following the sale, the senior vice president now owns 93,099 shares of the company’s stock, valued at $7,915,276.98. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael Severino sold 25,633 shares of AbbVie stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $94.69, for a total value of $2,427,188.77. Following the sale, the executive vice president now directly owns 114,922 shares in the company, valued at approximately $10,881,964.18. The disclosure for this sale can be found here. Insiders sold 58,932 shares of company stock worth $5,379,432 in the last three months. 0.23% of the stock is currently owned by corporate insiders.

Several analysts have recently weighed in on ABBV shares. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Evercore ISI restated an “outperform” rating and set a $100.00 target price (up from $95.00) on shares of AbbVie in a research note on Saturday, September 30th. Credit Suisse Group restated a “neutral” rating and set a $74.00 target price (up from $65.00) on shares of AbbVie in a research note on Thursday, July 20th. Barclays PLC restated a “hold” rating and set a $68.00 target price on shares of AbbVie in a research note on Thursday, September 28th. Finally, Cowen and Company upgraded AbbVie from a “market perform” rating to an “outperform” rating and raised their target price for the company from $91.17 to $105.00 in a research note on Wednesday, October 11th. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. AbbVie currently has a consensus rating of “Buy” and a consensus target price of $93.68.

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.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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