Puzo Michael J Sells 576 Shares of AbbVie Inc (NYSE:ABBV)

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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.

NYSE:ABBV opened at $89.26 on Thursday. AbbVie Inc has a 12-month low of $62.66 and a 12-month high of $91.99. The firm has a market capitalization of $130.43 billion, a price-to-earnings ratio of 11.28, a P/E/G ratio of 2.08 and a beta of 0.97. The stock’s 50 day moving average price is $88.51 and its two-hundred day moving average price is $76.87.

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 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.

Further Reading: What is a Derivative?

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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