Somerville Kurt F Reduces Stake in AbbVie Inc (NYSE:ABBV)

Share on StockTwits

Somerville Kurt F cut its stake in AbbVie Inc (NYSE:ABBV) by 7.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,425 shares of the company’s stock after selling 1,735 shares during the quarter. Somerville Kurt F’s holdings in AbbVie were worth $1,898,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Hoey Investments Inc. purchased a new position in AbbVie during the fourth quarter worth about $31,000. Kempen Capital Management N.V. purchased a new stake in shares of AbbVie in the 2nd quarter valued at approximately $41,000. Edge Wealth Management LLC lifted its holdings in shares of AbbVie by 106.1% in the 3rd quarter. Edge Wealth Management LLC now owns 573 shares of the company’s stock worth $43,000 after acquiring an additional 295 shares during the last quarter. Massey Quick Simon & CO. LLC lifted its holdings in shares of AbbVie by 2,400.0% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 625 shares of the company’s stock worth $47,000 after acquiring an additional 600 shares during the last quarter. Finally, Selective Wealth Management Inc. acquired a new position in shares of AbbVie in the 3rd quarter worth approximately $48,000. 70.42% of the stock is owned by institutional investors and hedge funds.

Several analysts recently weighed in on ABBV shares. Citigroup lifted their target price on shares of AbbVie from $90.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Piper Jaffray Companies upped their price target on AbbVie from $81.00 to $90.00 in a research note on Friday, November 1st. UBS Group raised their price target on AbbVie from $79.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Cowen lifted their price objective on AbbVie from $90.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, December 26th. Finally, Royal Bank of Canada started coverage on AbbVie in a report on Monday, January 6th. They issued a “sector perform” rating and a $86.00 price objective on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $86.33.

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

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

The business also recently disclosed a — dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.18 dividend. This is a boost from AbbVie’s previous — dividend of $1.07. This represents a dividend yield of 5.93%. The ex-dividend date is Tuesday, January 14th. AbbVie’s dividend payout ratio (DPR) is presently 59.67%.

About AbbVie

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: How do candlesticks reflect price movement?

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)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2020 BBNS.