G&S Capital LLC lifted its stake in AbbVie Inc (NYSE:ABBV) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,948 shares of the company’s stock after purchasing an additional 133 shares during the period. G&S Capital LLC’s holdings in AbbVie were worth $261,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Hoey Investments Inc. purchased a new stake in shares of AbbVie during the fourth quarter valued at about $31,000. Edge Wealth Management LLC lifted its position in shares of AbbVie by 106.1% during the third quarter. Edge Wealth Management LLC now owns 573 shares of the company’s stock valued at $43,000 after buying an additional 295 shares during the last quarter. Massey Quick Simon & CO. LLC lifted its position in shares of AbbVie by 2,400.0% during the third quarter. Massey Quick Simon & CO. LLC now owns 625 shares of the company’s stock valued at $47,000 after buying an additional 600 shares during the last quarter. Selective Wealth Management Inc. purchased a new stake in shares of AbbVie during the third quarter valued at about $48,000. Finally, Cardinal Capital Management Inc. purchased a new stake in shares of AbbVie during the fourth quarter valued at about $58,000. Hedge funds and other institutional investors own 70.46% of the company’s stock.
Shares of ABBV traded up $0.25 during midday trading on Tuesday, reaching $88.25. The stock had a trading volume of 4,572,489 shares, compared to its average volume of 6,021,714. The company has a market capitalization of $130.14 billion, a P/E ratio of 40.67, a P/E/G ratio of 2.08 and a beta of 0.97. The firm’s 50 day moving average price is $88.53 and its 200-day moving average price is $77.25. AbbVie Inc has a 52 week low of $62.66 and a 52 week high of $91.99.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, November 1st. The company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.04. AbbVie had a negative return on equity of 155.96% and a net margin of 9.90%. The firm had revenue of $8.48 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the previous year, the company posted $2.14 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Sell-side analysts expect that AbbVie Inc will post 8.95 earnings per share for the current year.
The business 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. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a dividend yield of 5.93%. This is a boost from AbbVie’s previous — dividend of $1.07. AbbVie’s payout ratio is currently 59.67%.
Several analysts have commented on the stock. UBS Group increased their price target on shares of AbbVie from $79.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Piper Jaffray Companies increased their price target on shares of AbbVie from $81.00 to $90.00 in a research report on Friday, November 1st. Royal Bank of Canada initiated coverage on shares of AbbVie in a research report on Monday, January 6th. They issued a “sector perform” rating and a $86.00 price objective for the company. Citigroup increased their price objective on shares of AbbVie from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, ValuEngine raised shares of AbbVie from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $86.33.
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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