AbbVie Inc (NYSE:ABBV) Shares Sold by Wedge Capital Management L L P NC

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Wedge Capital Management L L P NC lessened its position in shares of AbbVie Inc (NYSE:ABBV) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 471,819 shares of the company’s stock after selling 13,115 shares during the period. Wedge Capital Management L L P NC’s holdings in AbbVie were worth $41,775,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Smith Asset Management Group LP increased its position in AbbVie by 263,372.1% during the 2nd quarter. Smith Asset Management Group LP now owns 113,293 shares of the company’s stock worth $8,239,000 after purchasing an additional 113,250 shares during the period. SRB Corp bought a new position in AbbVie during the 2nd quarter valued at $440,000. Circle Wealth Management LLC boosted its stake in AbbVie by 54.8% during the 2nd quarter. Circle Wealth Management LLC now owns 4,852 shares of the company’s stock valued at $353,000 after acquiring an additional 1,717 shares during the last quarter. Mackenzie Financial Corp grew its holdings in AbbVie by 1,023.5% during the 2nd quarter. Mackenzie Financial Corp now owns 1,441,377 shares of the company’s stock worth $104,817,000 after acquiring an additional 1,313,089 shares in the last quarter. Finally, Private Portfolio Partners LLC grew its holdings in AbbVie by 6.5% during the 2nd quarter. Private Portfolio Partners LLC now owns 6,296 shares of the company’s stock worth $458,000 after acquiring an additional 384 shares in the last quarter. Institutional investors own 70.42% of the company’s stock.

NYSE ABBV opened at $89.26 on Thursday. AbbVie Inc has a one year low of $62.66 and a one year high of $91.99. The company has a 50-day simple moving average of $88.51 and a 200-day simple moving average of $76.87. The firm has a market capitalization of $130.43 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 2.08 and a beta of 0.97.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, November 1st. The company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.04. AbbVie had a net margin of 9.90% and a negative return on equity of 155.96%. The firm had revenue of $8.48 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the prior year, the business earned $2.14 earnings per share. AbbVie’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts expect that AbbVie Inc will post 8.95 earnings per share for the current year.

The business also recently announced a — dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.18 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This is a positive change from AbbVie’s previous — dividend of $1.07. This represents a dividend yield of 5.93%. AbbVie’s dividend payout ratio is 59.67%.

ABBV has been the topic of a number of recent analyst reports. Piper Jaffray Companies upped their target price on shares of AbbVie from $81.00 to $90.00 in a research note on Friday, November 1st. UBS Group increased their price target on shares of AbbVie from $79.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. ValuEngine upgraded AbbVie from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Citigroup boosted their price objective on AbbVie from $90.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Bank of America downgraded AbbVie from a “buy” rating to a “neutral” rating in a report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $86.33.

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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