Moseley Investment Management Inc. Sells 1,524 Shares of AbbVie Inc (NYSE:ABBV)

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Moseley Investment Management Inc. lessened its position in shares of AbbVie Inc (NYSE:ABBV) by 16.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,468 shares of the company’s stock after selling 1,524 shares during the quarter. Moseley Investment Management Inc.’s holdings in AbbVie were worth $661,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Nuveen Asset Management LLC boosted its stake in AbbVie by 1,715.8% during the second quarter. Nuveen Asset Management LLC now owns 9,593,845 shares of the company’s stock worth $697,664,000 after acquiring an additional 9,065,487 shares in the last quarter. BlackRock Inc. increased its stake in AbbVie by 3.3% in the second quarter. BlackRock Inc. now owns 98,295,272 shares of the company’s stock valued at $7,148,030,000 after purchasing an additional 3,100,309 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in AbbVie by 81.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 5,176,070 shares of the company’s stock valued at $376,404,000 after purchasing an additional 2,326,510 shares in the last quarter. Man Group plc increased its stake in AbbVie by 168.9% in the second quarter. Man Group plc now owns 2,605,268 shares of the company’s stock valued at $189,456,000 after purchasing an additional 1,636,248 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of AbbVie by 2.3% during the third quarter. State Street Corp now owns 68,783,527 shares of the company’s stock valued at $5,208,289,000 after purchasing an additional 1,516,048 shares during the period. 70.42% of the stock is currently owned by institutional investors.

Shares of ABBV opened at $89.26 on Thursday. AbbVie Inc has a fifty-two week low of $62.66 and a fifty-two week high of $91.99. The business has a 50-day moving average of $88.51 and a 200 day moving average of $76.87. The firm has a market cap of $130.43 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 2.08 and a beta of 0.97.

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

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

A number of research firms have recently issued reports on ABBV. Cowen increased their price objective on shares of AbbVie from $90.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, December 26th. ValuEngine upgraded AbbVie from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Bank of America downgraded shares of AbbVie from a “buy” rating to a “neutral” rating in a report on Friday, January 3rd. Royal Bank of Canada assumed coverage on AbbVie in a report on Monday, January 6th. They set a “sector perform” rating and a $86.00 price target on the stock. Finally, Citigroup upped their price objective on AbbVie from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. AbbVie currently has a consensus rating of “Hold” and a consensus target price of $86.33.

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.

Read More: Why do analysts give a neutral rating?

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc (NYSE:ABBV).

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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