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.
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%.
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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