Altium Wealth Management LLC boosted its stake in shares of AbbVie Inc (NYSE:ABBV) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,722 shares of the company’s stock after acquiring an additional 1,309 shares during the period. Altium Wealth Management LLC’s holdings in AbbVie were worth $1,835,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of ABBV. Hoey Investments Inc. bought a new stake in AbbVie during the 4th quarter worth $31,000. Kempen Capital Management N.V. acquired a new position in AbbVie during the 2nd quarter worth about $41,000. Edge Wealth Management LLC lifted its holdings in AbbVie by 106.1% during the 3rd quarter. Edge Wealth Management LLC now owns 573 shares of the company’s stock worth $43,000 after buying an additional 295 shares during the period. Massey Quick Simon & CO. LLC lifted its holdings in AbbVie by 2,400.0% during the 3rd quarter. Massey Quick Simon & CO. LLC now owns 625 shares of the company’s stock worth $47,000 after buying an additional 600 shares during the period. Finally, Selective Wealth Management Inc. acquired a new position in AbbVie during the 3rd quarter worth about $48,000. Hedge funds and other institutional investors own 70.42% of the company’s stock.
ABBV has been the topic of several recent research reports. Citigroup lifted their target price on AbbVie from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Piper Jaffray Companies lifted their target price on AbbVie from $81.00 to $90.00 in a report on Friday, November 1st. Cowen lifted their target price on AbbVie from $90.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, December 26th. UBS Group lifted their target price on AbbVie from $79.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Bank of America downgraded AbbVie from a “buy” rating to a “neutral” rating in a report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $86.33.
Shares of NYSE:ABBV traded down $1.24 during midday trading on Friday, reaching $88.02. The company’s stock had a trading volume of 1,772,832 shares, compared to its average volume of 7,519,058. The firm has a market capitalization of $130.43 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 2.08 and a beta of 0.97. The firm has a 50 day moving average price of $88.52 and a two-hundred day moving average price of $76.96. AbbVie Inc has a fifty-two week low of $62.66 and a fifty-two week high of $91.99.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, November 1st. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.04. The company had revenue of $8.48 billion for the quarter, compared to the consensus estimate of $8.37 billion. AbbVie had a negative return on equity of 155.96% and a net margin of 9.90%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.14 EPS. As a group, sell-side analysts anticipate that AbbVie Inc will post 8.95 EPS for the current year.
The firm also recently disclosed a — dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.18 dividend. This represents a dividend yield of 5.93%. This is an increase from AbbVie’s previous — dividend of $1.07. The ex-dividend date is Tuesday, January 14th. AbbVie’s payout ratio is currently 59.67%.
AbbVie Company 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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