Schmidt P J Investment Management Inc. Has $7.04 Million Holdings in AbbVie Inc (ABBV)

Schmidt P J Investment Management Inc. reduced its holdings in AbbVie Inc (NYSE:ABBV) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,380 shares of the company’s stock after selling 2,261 shares during the quarter. AbbVie comprises 2.3% of Schmidt P J Investment Management Inc.’s investment portfolio, making the stock its 10th biggest holding. Schmidt P J Investment Management Inc.’s holdings in AbbVie were worth $7,041,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ABBV. Eagle Capital Management LLC grew its holdings in shares of AbbVie by 2.3% in the third quarter. Eagle Capital Management LLC now owns 34,102 shares of the company’s stock valued at $3,225,000 after purchasing an additional 769 shares in the last quarter. Northpointe Capital LLC purchased a new position in AbbVie during the third quarter worth $2,032,000. Middleton & Co Inc MA boosted its stake in AbbVie by 4.0% during the third quarter. Middleton & Co Inc MA now owns 142,899 shares of the company’s stock worth $13,515,000 after buying an additional 5,463 shares during the period. Ferguson Wellman Capital Management Inc. boosted its stake in AbbVie by 19.4% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 834,332 shares of the company’s stock worth $78,911,000 after buying an additional 135,551 shares during the period. Finally, Alps Advisors Inc. boosted its stake in AbbVie by 3.9% during the third quarter. Alps Advisors Inc. now owns 21,438 shares of the company’s stock worth $2,028,000 after buying an additional 809 shares during the period. 70.66% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Azita Saleki-Gerhardt sold 15,797 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $79.03, for a total transaction of $1,248,436.91. Following the sale, the executive vice president now owns 93,312 shares in the company, valued at $7,374,447.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Laura J. Schumacher sold 25,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $80.00, for a total value of $2,000,000.00. Following the sale, the insider now owns 139,838 shares in the company, valued at approximately $11,187,040. The disclosure for this sale can be found here. Insiders sold 41,272 shares of company stock valued at $3,286,290 over the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Several research firms have commented on ABBV. Zacks Investment Research lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. Argus downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Monday, March 25th. Barclays reiterated a “hold” rating and set a $86.00 target price on shares of AbbVie in a research report on Thursday, February 14th. Credit Suisse Group set a $79.00 target price on AbbVie and gave the stock a “hold” rating in a research report on Friday, January 25th. Finally, ValuEngine downgraded AbbVie from a “hold” rating to a “sell” rating in a research report on Friday, January 25th. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. AbbVie presently has an average rating of “Hold” and a consensus target price of $94.48.

Shares of ABBV stock traded down $0.41 on Friday, hitting $77.57. The stock had a trading volume of 7,785,262 shares, compared to its average volume of 5,041,205. The company has a market capitalization of $114.42 billion, a P/E ratio of 9.81, a PEG ratio of 1.38 and a beta of 1.16. AbbVie Inc has a one year low of $75.77 and a one year high of $107.25.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 25th. The company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $1.92 by ($0.02). The firm had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $8.37 billion. AbbVie had a net margin of 17.36% and a negative return on equity of 439.07%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.48 earnings per share. On average, analysts predict that AbbVie Inc will post 8.68 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.07 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $4.28 dividend on an annualized basis and a yield of 5.52%. AbbVie’s dividend payout ratio is presently 54.11%.

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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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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