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.
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 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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