Aull & Monroe Investment Management Corp decreased its position in AbbVie Inc. (NYSE:ABBV) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,124 shares of the company’s stock after selling 680 shares during the period. AbbVie makes up about 1.4% of Aull & Monroe Investment Management Corp’s portfolio, making the stock its 21st biggest holding. Aull & Monroe Investment Management Corp’s holdings in AbbVie were worth $2,817,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Jennison Associates LLC purchased a new position in shares of AbbVie during the 3rd quarter valued at about $544,418,000. Capital International Investors raised its stake in shares of AbbVie by 137.7% during the 3rd quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock valued at $697,989,000 after buying an additional 4,550,954 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of AbbVie by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after buying an additional 3,706,941 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of AbbVie by 1,949.7% during the 2nd quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock valued at $277,967,000 after buying an additional 3,646,510 shares during the last quarter. Finally, Orbis Allan Gray Ltd raised its stake in shares of AbbVie by 35.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after buying an additional 3,340,038 shares during the last quarter. Institutional investors own 70.51% of the company’s stock.
Shares of AbbVie Inc. (NYSE ABBV) opened at $98.10 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.28 and a debt-to-equity ratio of 6.07. AbbVie Inc. has a twelve month low of $63.12 and a twelve month high of $125.86. The stock has a market capitalization of $178,885.16, a PE ratio of 29.82, a P/E/G ratio of 1.06 and a beta of 1.52.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.04. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The company had revenue of $7.74 billion for the quarter, compared to analysts’ expectations of $7.53 billion. During the same period in the previous year, the firm posted $1.20 EPS. AbbVie’s revenue was up 13.9% compared to the same quarter last year. equities research analysts anticipate that AbbVie Inc. will post 7.48 earnings per share for the current year.
AbbVie announced that its board has initiated a stock buyback program on Thursday, February 15th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.91%. This is a boost from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, April 12th. AbbVie’s payout ratio is presently 86.32%.
In related news, VP Robert A. Michael sold 992 shares of AbbVie stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $120.31, for a total value of $119,347.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Carlos Alban sold 83,574 shares of AbbVie stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $114.49, for a total value of $9,568,387.26. Following the completion of the sale, the executive vice president now owns 133,026 shares in the company, valued at $15,230,146.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 211,197 shares of company stock worth $24,585,575. 0.23% of the stock is currently owned by insiders.
A number of equities analysts have weighed in on ABBV shares. BMO Capital Markets lowered AbbVie from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $125.86 to $84.00 in a research note on Monday, January 29th. They noted that the move was a valuation call. Zacks Investment Research cut AbbVie from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Credit Suisse Group set a $98.00 target price on AbbVie and gave the company a “hold” rating in a research report on Monday, January 22nd. Piper Jaffray Companies restated a “buy” rating on shares of AbbVie in a research report on Tuesday, January 2nd. Finally, SunTrust Banks raised their target price on AbbVie to $157.00 and gave the company an “average” rating in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $120.96.
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AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
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