AbbVie Inc (NYSE:ABBV) Shares Acquired by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC grew its position in AbbVie Inc (NYSE:ABBV) by 0.4% during the third quarter, Holdings Channel reports. The firm owned 107,685 shares of the company’s stock after acquiring an additional 438 shares during the period. AbbVie makes up approximately 0.9% of Sheaff Brock Investment Advisors LLC’s portfolio, making the stock its 18th largest position. Sheaff Brock Investment Advisors LLC’s holdings in AbbVie were worth $8,154,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ABBV. Arbor Wealth Management LLC acquired a new stake in AbbVie during the second quarter worth about $28,000. Horrell Capital Management Inc. acquired a new stake in AbbVie during the second quarter worth about $33,000. TD Capital Management LLC acquired a new stake in AbbVie during the second quarter worth about $33,000. Lowe Wealth Advisors LLC grew its holdings in AbbVie by 206.7% during the second quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock worth $33,000 after acquiring an additional 310 shares during the period. Finally, Financial Gravity Wealth Inc. grew its holdings in AbbVie by 82.9% during the second quarter. Financial Gravity Wealth Inc. now owns 503 shares of the company’s stock worth $37,000 after acquiring an additional 228 shares during the period. 68.22% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently commented on the company. UBS Group raised AbbVie from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $85.00 to $79.00 in a report on Thursday, September 12th. Cowen set a $90.00 target price on AbbVie and gave the stock a “buy” rating in a report on Tuesday, September 24th. Piper Jaffray Companies raised their target price on AbbVie from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. TheStreet lowered AbbVie from a “b-” rating to a “c” rating in a report on Monday, August 26th. Finally, Citigroup raised AbbVie from a “neutral” rating to a “buy” rating and raised their target price for the stock from $87.00 to $90.00 in a report on Thursday, September 26th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $86.51.

In other AbbVie news, SVP Nicholas Donoghoe acquired 7,525 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were bought at an average cost of $66.19 per share, with a total value of $498,079.75. Following the completion of the acquisition, the senior vice president now owns 13,090 shares in the company, valued at $866,427.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Istar Inc. bought 40,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of $28.52 per share, for a total transaction of $1,140,800.00. Over the last three months, insiders acquired 153,077 shares of company stock worth $8,687,351. 0.08% of the stock is owned by corporate insiders.

ABBV traded up $1.80 during trading on Monday, hitting $78.33. The company’s stock had a trading volume of 6,845,093 shares, compared to its average volume of 7,249,400. AbbVie Inc has a twelve month low of $62.66 and a twelve month high of $94.98. The business’s fifty day simple moving average is $73.18 and its 200 day simple moving average is $73.50. The firm has a market capitalization of $113.55 billion, a price-to-earnings ratio of 9.90, a P/E/G ratio of 1.56 and a beta of 0.99.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 26th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.21 by $0.05. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.09 billion. During the same period last year, the company earned $2.00 earnings per share. AbbVie’s quarterly revenue was down .3% compared to the same quarter last year. Equities research analysts forecast that AbbVie Inc will post 8.93 earnings per share for the current year.

The firm also recently disclosed a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $1.07 dividend. This represents a yield of 6.4%. The ex-dividend date of this dividend is Friday, October 11th. AbbVie’s payout ratio is currently 54.11%.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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