Advisors Asset Management Inc. Boosts Stake in AbbVie Inc (NYSE:ABBV)

Advisors Asset Management Inc. increased its position in shares of AbbVie Inc (NYSE:ABBV) by 0.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 253,492 shares of the company’s stock after purchasing an additional 498 shares during the quarter. Advisors Asset Management Inc.’s holdings in AbbVie were worth $22,788,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ABBV. Eagle Capital Management LLC lifted its holdings in shares of AbbVie by 2.3% during 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 during the last quarter. Welch Group LLC lifted its holdings in shares of AbbVie by 1.2% during the third quarter. Welch Group LLC now owns 282,216 shares of the company’s stock valued at $26,692,000 after purchasing an additional 3,225 shares during the last quarter. Ashfield Capital Partners LLC lifted its holdings in shares of AbbVie by 4.0% during the third quarter. Ashfield Capital Partners LLC now owns 116,789 shares of the company’s stock valued at $11,046,000 after purchasing an additional 4,457 shares during the last quarter. Baugh & Associates LLC lifted its holdings in shares of AbbVie by 3.1% during the third quarter. Baugh & Associates LLC now owns 41,578 shares of the company’s stock valued at $3,932,000 after purchasing an additional 1,264 shares during the last quarter. Finally, Torray LLC lifted its holdings in shares of AbbVie by 14.8% during the third quarter. Torray LLC now owns 20,459 shares of the company’s stock valued at $1,935,000 after purchasing an additional 2,645 shares during the last quarter. Hedge funds and other institutional investors own 70.62% of the company’s stock.

ABBV has been the subject of several analyst reports. Credit Suisse Group set a $78.00 price target on shares of AbbVie and gave the company a “sell” rating in a research report on Friday, April 26th. Zacks Investment Research downgraded shares of AbbVie from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. ValuEngine raised shares of AbbVie from a “strong sell” rating to a “sell” rating in a research report on Friday, March 15th. UBS Group reissued a “neutral” rating and set a $91.00 price target (down previously from $97.00) on shares of AbbVie in a research report on Wednesday, January 23rd. Finally, Barclays reissued a “hold” rating and set a $86.00 price target on shares of AbbVie in a research report on Thursday, February 14th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $94.95.

In other news, Vice Chairman Laura J. Schumacher sold 25,000 shares of AbbVie stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $80.00, for a total transaction of $2,000,000.00. Following the transaction, the insider now owns 139,838 shares in the company, valued at approximately $11,187,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian L. Durkin sold 475 shares of AbbVie stock in a transaction on Monday, March 25th. The stock was sold at an average price of $79.69, for a total transaction of $37,852.75. Following the transaction, the vice president now owns 9,121 shares in the company, valued at approximately $726,852.49. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,272 shares of company stock valued at $3,286,290. 0.08% of the stock is currently owned by insiders.

NYSE:ABBV traded up $0.24 during trading hours on Friday, reaching $78.71. The company had a trading volume of 4,511,180 shares, compared to its average volume of 6,586,649. AbbVie Inc has a 52 week low of $75.77 and a 52 week high of $107.25. The company has a market cap of $116.10 billion, a PE ratio of 9.95, a price-to-earnings-growth ratio of 1.62 and a beta of 1.14.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, April 25th. The company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.08. AbbVie had a net margin of 16.42% and a negative return on equity of 253.85%. The business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.81 billion. During the same quarter in the previous year, the firm posted $1.87 EPS. The firm’s revenue was down 1.3% on a year-over-year basis. As a group, equities analysts predict that AbbVie Inc will post 8.83 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.

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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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