Guyasuta Investment Advisors Inc. Increases Position in AbbVie Inc (ABBV)

Guyasuta Investment Advisors Inc. lifted its position in AbbVie Inc (NYSE:ABBV) by 2.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,107 shares of the company’s stock after purchasing an additional 641 shares during the period. Guyasuta Investment Advisors Inc.’s holdings in AbbVie were worth $2,234,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. raised its stake in AbbVie by 3.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 6,088,016 shares of the company’s stock worth $576,231,000 after buying an additional 220,125 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in AbbVie by 6.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,954,509 shares of the company’s stock worth $468,944,000 after buying an additional 281,453 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in AbbVie by 12.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,667,023 shares of the company’s stock worth $441,725,000 after buying an additional 522,029 shares in the last quarter. Franklin Resources Inc. raised its stake in AbbVie by 8.5% in the first quarter. Franklin Resources Inc. now owns 4,359,665 shares of the company’s stock worth $412,643,000 after buying an additional 340,709 shares in the last quarter. Finally, Aristotle Capital Management LLC raised its stake in AbbVie by 0.9% in the first quarter. Aristotle Capital Management LLC now owns 3,787,873 shares of the company’s stock worth $358,522,000 after buying an additional 34,727 shares in the last quarter. Hedge funds and other institutional investors own 69.31% of the company’s stock.

A number of brokerages recently commented on ABBV. Berenberg Bank began coverage on shares of AbbVie in a research note on Thursday, July 12th. They issued a “hold” rating and a $105.00 price objective for the company. BMO Capital Markets reissued a “sell” rating and issued a $78.00 price objective on shares of AbbVie in a research note on Friday, July 27th. Cowen set a $110.00 price objective on shares of AbbVie and gave the stock a “buy” rating in a research note on Friday, July 27th. Piper Jaffray Companies reissued a “hold” rating and issued a $100.00 price objective on shares of AbbVie in a research note on Friday, July 27th. Finally, ValuEngine downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Friday, June 22nd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. AbbVie has a consensus rating of “Hold” and an average price target of $107.16.

Shares of ABBV stock opened at $94.18 on Thursday. The firm has a market cap of $142.01 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 0.90 and a beta of 1.54. The company has a debt-to-equity ratio of -9.06, a quick ratio of 0.71 and a current ratio of 0.80. AbbVie Inc has a 12-month low of $83.19 and a 12-month high of $125.86.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 27th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.02. The business had revenue of $8.28 billion for the quarter, compared to the consensus estimate of $8.22 billion. AbbVie had a return on equity of 362.05% and a net margin of 20.84%. The business’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.42 earnings per share. analysts predict that AbbVie Inc will post 7.86 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend is Friday, October 12th. AbbVie’s payout ratio is presently 68.57%.

In other news, EVP Michael Severino sold 50,000 shares of the company’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the transaction, the executive vice president now directly owns 111,481 shares of the company’s stock, valued at $10,871,627.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.07% of the company’s stock.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for 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.

Further Reading: Stock Symbols and CUSIP Explained

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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