Hoylecohen LLC Sells 614 Shares of AbbVie Inc (ABBV)

Hoylecohen LLC lowered its position in AbbVie Inc (NYSE:ABBV) by 1.3% in the fourth quarter, Holdings Channel reports. The fund owned 45,911 shares of the company’s stock after selling 614 shares during the quarter. Hoylecohen LLC’s holdings in AbbVie were worth $4,233,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ABBV. Prime Capital Investment Advisors LLC bought a new position in AbbVie in the 4th quarter worth approximately $27,000. Penserra Capital Management LLC bought a new position in AbbVie in the 4th quarter worth approximately $32,000. Larson Financial Group LLC bought a new position in AbbVie in the 4th quarter worth approximately $37,000. Horrell Capital Management Inc. bought a new stake in shares of AbbVie during the 4th quarter valued at $41,000. Finally, Portfolio Solutions LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $46,000. Institutional investors own 70.53% of the company’s stock.

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

Shares of NYSE ABBV opened at $80.88 on Wednesday. The firm has a market capitalization of $118.00 billion, a P/E ratio of 10.23, a P/E/G ratio of 1.62 and a beta of 1.14. AbbVie Inc has a 1-year low of $75.62 and a 1-year high of $107.24.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, April 25th. The company reported $2.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.06 by $0.08. The firm had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.81 billion. AbbVie had a net margin of 16.42% and a negative return on equity of 221.09%. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.87 EPS. 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 was paid on Wednesday, May 15th. Investors of record on Monday, April 15th were paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date of this dividend was Friday, April 12th. AbbVie’s payout ratio is presently 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 shares were 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 of the company’s stock, valued at approximately $726,852.49. The sale was disclosed in a document filed with the SEC, which is available 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 stock was sold at an average price of $79.03, for a total transaction of $1,248,436.91. Following the completion of the transaction, the executive vice president now directly owns 93,312 shares of the company’s stock, valued at $7,374,447.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,272 shares of company stock valued at $3,286,290. Company insiders own 0.08% of the company’s stock.

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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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