Sandy Spring Bank Has $9.33 Million Holdings in AbbVie Inc (ABBV)

Sandy Spring Bank decreased its position in AbbVie Inc (NYSE:ABBV) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 101,224 shares of the company’s stock after selling 8,012 shares during the period. AbbVie accounts for 0.9% of Sandy Spring Bank’s investment portfolio, making the stock its 23rd biggest holding. Sandy Spring Bank’s holdings in AbbVie were worth $9,332,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of AbbVie by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 118,762,307 shares of the company’s stock valued at $11,232,540,000 after acquiring an additional 912,625 shares during the period. Vanguard Group Inc boosted its holdings in AbbVie by 0.8% in the 3rd quarter. Vanguard Group Inc now owns 118,762,307 shares of the company’s stock worth $11,232,540,000 after buying an additional 912,625 shares during the period. Capital International Investors boosted its holdings in AbbVie by 266.4% in the 3rd quarter. Capital International Investors now owns 27,594,648 shares of the company’s stock worth $2,609,902,000 after buying an additional 20,063,435 shares during the period. Capital World Investors boosted its holdings in AbbVie by 74.9% in the 3rd quarter. Capital World Investors now owns 25,359,025 shares of the company’s stock worth $2,398,457,000 after buying an additional 10,858,432 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in AbbVie by 2.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 15,879,753 shares of the company’s stock worth $1,501,907,000 after buying an additional 382,597 shares during the period. Hedge funds and other institutional investors own 70.66% of the company’s stock.

In other AbbVie news, VP Brian L. Durkin sold 475 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $79.69, for a total value of $37,852.75. Following the sale, the vice president now directly owns 9,121 shares in the company, valued at approximately $726,852.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 15,797 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 93,312 shares in the company, valued at $7,374,447.36. The disclosure for this sale can be found here. Insiders sold a total of 41,272 shares of company stock worth $3,286,290 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

NYSE ABBV opened at $77.57 on Monday. AbbVie Inc has a 1 year low of $75.77 and a 1 year high of $107.25. The company has a market capitalization of $114.42 billion, a price-to-earnings ratio of 9.81, a PEG ratio of 1.38 and a beta of 1.16.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 25th. The company reported $1.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.92 by ($0.02). AbbVie had a negative return on equity of 439.07% and a net margin of 17.36%. The firm had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter in the prior year, the company earned $1.48 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities analysts anticipate that AbbVie Inc will post 8.68 earnings per share for the current fiscal 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 paid a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 5.52%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio is presently 54.11%.

Several research analysts recently commented on ABBV shares. Bank of America downgraded shares of AbbVie from a “buy” rating to a “neutral” rating in a report on Thursday, January 3rd. Argus downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a report on Monday, March 25th. Standpoint Research started coverage on shares of AbbVie in a report on Wednesday, December 26th. They issued a “buy” rating for the company. Credit Suisse Group set a $79.00 price objective on shares of AbbVie and gave the stock a “hold” rating in a report on Friday, January 25th. Finally, ValuEngine downgraded shares of AbbVie from a “hold” rating to a “sell” rating in a report on Friday, January 25th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. AbbVie has a consensus rating of “Hold” and an average target price of $94.48.

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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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