Blue Chip Partners Inc. Lowers Stake in AbbVie Inc (NYSE:ABBV)

Blue Chip Partners Inc. trimmed its holdings in shares of AbbVie Inc (NYSE:ABBV) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,274 shares of the company’s stock after selling 425 shares during the quarter. AbbVie accounts for approximately 2.6% of Blue Chip Partners Inc.’s portfolio, making the stock its 6th biggest position. Blue Chip Partners Inc.’s holdings in AbbVie were worth $10,258,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ABBV. Horrell Capital Management Inc. acquired a new stake in shares of AbbVie during the 4th quarter worth about $41,000. Signet Investment Advisory Group Inc. acquired a new position in AbbVie during the fourth quarter worth approximately $62,000. Massey Quick Simon & CO. LLC acquired a new position in AbbVie during the fourth quarter worth approximately $64,000. Ruggie Capital Group increased its position in AbbVie by 55.3% during the fourth quarter. Ruggie Capital Group now owns 823 shares of the company’s stock worth $76,000 after buying an additional 293 shares during the period. Finally, Brand Asset Management Group Inc. increased its position in AbbVie by 60.7% during the fourth quarter. Brand Asset Management Group Inc. now owns 1,059 shares of the company’s stock worth $98,000 after buying an additional 400 shares during the period. 70.61% of the stock is owned by hedge funds and other institutional investors.

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 15,797 shares of the company’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 completion of the sale, the executive vice president now directly 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 accessible through this hyperlink. Also, VP Brian L. Durkin sold 475 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $79.69, for a total value of $37,852.75. Following the sale, the vice president now owns 9,121 shares of the company’s stock, valued at $726,852.49. The disclosure for this sale can be found here. Insiders sold 41,272 shares of company stock worth $3,286,290 over the last 90 days. Company insiders own 0.08% of the company’s stock.

ABBV traded up $0.36 during trading on Friday, reaching $79.70. 5,464,577 shares of the stock were exchanged, compared to its average volume of 6,610,871. The company has a market cap of $116.03 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 1.40 and a beta of 1.16. AbbVie Inc has a 1 year low of $75.77 and a 1 year high of $107.25.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, April 25th. The company reported $2.14 EPS for the quarter, topping the Zacks’ consensus estimate of $2.06 by $0.08. AbbVie had a negative return on equity of 439.07% and a net margin of 17.36%. The company had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.81 billion. During the same period in the previous year, the business earned $1.87 earnings per share. AbbVie’s quarterly revenue was down 1.3% compared to the same quarter last year. Equities analysts anticipate that AbbVie Inc will post 8.68 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a $1.07 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $4.28 annualized dividend and a dividend yield of 5.37%. AbbVie’s dividend payout ratio is currently 54.11%.

ABBV has been the topic of several research analyst reports. Bank of America lowered AbbVie from a “buy” rating to a “neutral” rating in a research report on Thursday, January 3rd. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Tuesday, January 8th. Credit Suisse Group raised AbbVie to a “hold” rating and set a $79.00 target price on the stock in a report on Thursday, January 17th. UBS Group reissued a “neutral” rating and issued a $91.00 target price (down previously from $97.00) on shares of AbbVie in a report on Wednesday, January 23rd. Finally, ValuEngine lowered AbbVie from a “hold” rating to a “sell” rating in a report on Friday, January 25th. Seven investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $94.41.

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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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