Courier Capital LLC Trims Position in AbbVie Inc (ABBV)

Courier Capital LLC decreased its holdings in AbbVie Inc (NYSE:ABBV) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,787 shares of the company’s stock after selling 194 shares during the quarter. Courier Capital LLC’s holdings in AbbVie were worth $1,640,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ABBV. Capital International Investors raised its position in AbbVie by 266.4% in the 3rd quarter. Capital International Investors now owns 27,594,648 shares of the company’s stock valued at $2,609,902,000 after purchasing an additional 20,063,435 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in AbbVie by 4,385.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 15,195,586 shares of the company’s stock valued at $165,000 after buying an additional 14,856,786 shares during the period. Capital World Investors increased its stake in AbbVie by 74.9% in the 3rd quarter. Capital World Investors now owns 25,359,025 shares of the company’s stock valued at $2,398,457,000 after buying an additional 10,858,432 shares during the period. Matthew Goff Investment Advisor LLC increased its stake in AbbVie by 9,165.1% in the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 2,226,305 shares of the company’s stock valued at $24,029,000 after buying an additional 2,202,276 shares during the period. Finally, FMR LLC increased its stake in AbbVie by 22.1% in the 3rd quarter. FMR LLC now owns 8,707,454 shares of the company’s stock valued at $823,551,000 after buying an additional 1,574,495 shares during the period. Hedge funds and other institutional investors own 70.66% of the company’s stock.

Several brokerages have issued reports on ABBV. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Tuesday, January 8th. Bank of America cut shares of AbbVie from a “buy” rating to a “neutral” rating in a research note on Thursday, January 3rd. UBS Group reissued a “neutral” rating and issued a $91.00 price objective (down from $97.00) on shares of AbbVie in a research note on Wednesday, January 23rd. Credit Suisse Group raised shares of AbbVie to a “hold” rating and set a $79.00 price objective on the stock in a research note on Thursday, January 17th. Finally, Standpoint Research initiated coverage on shares of AbbVie in a research note on Wednesday, December 26th. They issued a “buy” rating on the stock. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $94.48.

In related news, Vice Chairman Laura J. Schumacher sold 25,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $80.00, for a total value of $2,000,000.00. Following the sale, the insider now directly owns 139,838 shares of the company’s stock, valued at approximately $11,187,040. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Brian L. Durkin sold 475 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $79.69, for a total transaction of $37,852.75. Following the completion of the sale, the vice president now directly owns 9,121 shares in the company, valued at $726,852.49. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,272 shares of company stock worth $3,286,290. Corporate insiders own 0.08% of the company’s stock.

NYSE:ABBV opened at $78.66 on Wednesday. AbbVie Inc has a fifty-two week low of $75.77 and a fifty-two week high of $107.25. The firm has a market cap of $114.42 billion, a PE ratio of 9.94, a P/E/G ratio of 1.38 and a beta of 1.16.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 25th. The company reported $1.90 earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $8.31 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period last 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. Research analysts predict that AbbVie Inc will post 8.68 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a dividend of $1.07 per share. The ex-dividend date is Friday, April 12th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.44%. AbbVie’s dividend payout ratio (DPR) 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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