Nelson Van Denburg & Campbell Wealth Management Group LLC trimmed its position in shares of AbbVie Inc (NYSE:ABBV) by 7.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 20,015 shares of the company’s stock after selling 1,525 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC’s holdings in AbbVie were worth $1,834,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in ABBV. Prime Capital Investment Advisors LLC purchased a new stake in AbbVie during the fourth quarter worth approximately $27,000. Penserra Capital Management LLC purchased a new stake in AbbVie during the fourth quarter worth approximately $32,000. Larson Financial Group LLC purchased a new stake in AbbVie during the fourth quarter worth approximately $37,000. Horrell Capital Management Inc. acquired a new position in AbbVie during the fourth quarter worth approximately $41,000. Finally, Portfolio Solutions LLC acquired a new position in AbbVie during the fourth quarter worth approximately $46,000. Institutional investors own 70.62% of the company’s stock.
Several research analysts have commented on ABBV shares. Argus lowered AbbVie from a “buy” rating to a “hold” rating in a research report on Monday, March 25th. Credit Suisse Group set a $78.00 target price on AbbVie and gave the company a “sell” rating in a report on Friday, April 26th. ValuEngine lowered AbbVie from a “hold” rating to a “sell” rating in a report on Friday, January 25th. BMO Capital Markets raised AbbVie from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $71.00 to $79.00 in a report on Sunday, April 28th. Finally, 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. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $94.95.
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. The company had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.81 billion. AbbVie had a negative return on equity of 221.09% and a net margin of 16.42%. AbbVie’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.87 earnings per share. As a group, equities analysts predict that AbbVie Inc will post 8.83 EPS for the current 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 5.57%. AbbVie’s dividend payout ratio is currently 54.11%.
In related news, VP Brian L. Durkin sold 475 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $79.69, for a total value of $37,852.75. Following the completion of the transaction, the vice president now directly owns 9,121 shares in the company, valued at $726,852.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 15,797 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $79.03, for a total value of $1,248,436.91. Following the completion of the transaction, the executive vice president now owns 93,312 shares of the company’s stock, valued at $7,374,447.36. 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.
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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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