Puzo Michael J cut its holdings in AbbVie Inc (NYSE:ABBV) by 3.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 16,000 shares of the company’s stock after selling 576 shares during the quarter. Puzo Michael J’s holdings in AbbVie were worth $1,418,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Hoey Investments Inc. acquired a new position in shares of AbbVie during the 4th quarter worth about $31,000. Kempen Capital Management N.V. bought a new position in shares of AbbVie in the 2nd quarter valued at about $41,000. Edge Wealth Management LLC increased its position in shares of AbbVie by 106.1% in the third quarter. Edge Wealth Management LLC now owns 573 shares of the company’s stock valued at $43,000 after acquiring an additional 295 shares during the last quarter. Massey Quick Simon & CO. LLC increased its position in shares of AbbVie by 2,400.0% in the third quarter. Massey Quick Simon & CO. LLC now owns 625 shares of the company’s stock valued at $47,000 after acquiring an additional 600 shares during the last quarter. Finally, Selective Wealth Management Inc. bought a new stake in AbbVie during the third quarter worth about $48,000. 70.42% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently commented on ABBV shares. Piper Jaffray Companies increased their price target on AbbVie from $81.00 to $90.00 in a research report on Friday, November 1st. UBS Group upped their price objective on AbbVie from $79.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Royal Bank of Canada began coverage on AbbVie in a report on Monday, January 6th. They issued a “sector perform” rating and a $86.00 price objective for the company. Bank of America cut shares of AbbVie from a “buy” rating to a “neutral” rating in a research note on Friday, January 3rd. Finally, Cowen boosted their target price on shares of AbbVie from $90.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, December 26th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $86.33.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, November 1st. The company reported $2.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.04. The company had revenue of $8.48 billion during the quarter, compared to the consensus estimate of $8.37 billion. AbbVie had a negative return on equity of 155.96% and a net margin of 9.90%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.14 EPS. On average, equities research analysts forecast that AbbVie Inc will post 8.95 earnings per share for the current fiscal year.
The firm also recently declared a — dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.18 per share. This is an increase from AbbVie’s previous — dividend of $1.07. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a yield of 5.93%. AbbVie’s dividend payout ratio (DPR) is currently 59.67%.
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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