Beech Hill Advisors Inc. lifted its holdings in shares of AbbVie Inc (NYSE:ABBV) by 0.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 58,209 shares of the company’s stock after purchasing an additional 225 shares during the period. AbbVie comprises about 2.4% of Beech Hill Advisors Inc.’s investment portfolio, making the stock its 19th biggest position. Beech Hill Advisors Inc.’s holdings in AbbVie were worth $5,154,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in ABBV. Hoey Investments Inc. bought a new stake in shares of AbbVie during the 4th quarter valued at about $31,000. Kempen Capital Management N.V. purchased a new position in AbbVie during the 2nd quarter valued at about $41,000. Edge Wealth Management LLC lifted its position in AbbVie by 106.1% during the 3rd quarter. Edge Wealth Management LLC now owns 573 shares of the company’s stock valued at $43,000 after acquiring an additional 295 shares during the period. Massey Quick Simon & CO. LLC lifted its position in AbbVie by 2,400.0% during the 3rd quarter. Massey Quick Simon & CO. LLC now owns 625 shares of the company’s stock valued at $47,000 after acquiring an additional 600 shares during the period. Finally, Selective Wealth Management Inc. purchased a new position in AbbVie during the 3rd quarter valued at about $48,000. 70.42% of the stock is currently owned by institutional investors.
Several brokerages have issued reports on ABBV. UBS Group lifted their target price on shares of AbbVie from $79.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Bank of America lowered shares of AbbVie from a “buy” rating to a “neutral” rating in a research note on Friday, January 3rd. ValuEngine upgraded shares of AbbVie from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Piper Jaffray Companies boosted their target price on shares of AbbVie from $81.00 to $90.00 in a research report on Friday, November 1st. Finally, Cowen boosted their target price on shares of AbbVie from $90.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, December 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $86.33.
Shares of ABBV traded down $0.87 during mid-day trading on Friday, reaching $88.40. The stock had a trading volume of 1,611,783 shares, compared to its average volume of 7,519,058. The firm has a market cap of $130.43 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 2.08 and a beta of 0.97. AbbVie Inc has a 12 month low of $62.66 and a 12 month high of $91.99. The business has a fifty day moving average of $88.52 and a 200 day moving average of $76.96.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, November 1st. The company reported $2.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.29 by $0.04. The business had revenue of $8.48 billion during the quarter, compared to analyst estimates of $8.37 billion. AbbVie had a net margin of 9.90% and a negative return on equity of 155.96%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.14 earnings per share. As a group, equities analysts anticipate that AbbVie Inc will post 8.95 earnings per share for the current fiscal year.
The company also recently declared a — dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $1.18 dividend. This is a positive change from AbbVie’s previous — dividend of $1.07. This represents a dividend yield of 5.93%. The ex-dividend date of this dividend is Tuesday, January 14th. AbbVie’s dividend payout ratio is presently 59.67%.
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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