AbbVie Inc (ABBV) Stake Increased by Fiduciary Trust Co.

Fiduciary Trust Co. lifted its stake in shares of AbbVie Inc (NYSE:ABBV) by 1.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 325,348 shares of the company’s stock after buying an additional 3,395 shares during the period. Fiduciary Trust Co.’s holdings in AbbVie were worth $28,910,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Savant Capital LLC lifted its holdings in shares of AbbVie by 1.3% in the 2nd quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock worth $4,433,000 after purchasing an additional 793 shares in the last quarter. Princeton Capital Management Inc. bought a new position in shares of AbbVie in the 2nd quarter worth $1,394,000. Palisade Asset Management LLC lifted its holdings in shares of AbbVie by 17.9% in the 2nd quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock worth $4,953,000 after purchasing an additional 10,381 shares in the last quarter. Beaton Management Co. Inc. bought a new position in shares of AbbVie in the 2nd quarter worth $528,000. Finally, Greatmark Investment Partners Inc. lifted its holdings in shares of AbbVie by 3.7% in the 2nd quarter. Greatmark Investment Partners Inc. now owns 35,178 shares of the company’s stock worth $2,551,000 after purchasing an additional 1,242 shares in the last quarter. 69.19% of the stock is owned by institutional investors.

A number of brokerages recently issued reports on ABBV. BMO Capital Markets set a $84.00 target price on AbbVie and gave the stock a “hold” rating in a report on Thursday. Vetr cut AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 target price on the stock. in a report on Monday, January 8th. Zacks Investment Research cut AbbVie from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Jefferies Group increased their target price on AbbVie from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of AbbVie in a report on Tuesday, January 2nd. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. AbbVie currently has an average rating of “Buy” and an average target price of $100.94.

In other news, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the sale, the chairman now directly owns 492,030 shares in the company, valued at approximately $46,255,740.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Severino sold 25,633 shares of AbbVie stock in a transaction on Friday, November 10th. The stock was sold at an average price of $94.69, for a total value of $2,427,188.77. Following the sale, the executive vice president now owns 114,922 shares in the company, valued at $10,881,964.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 494,676 shares of company stock worth $47,237,938. Company insiders own 0.23% of the company’s stock.

AbbVie Inc (NYSE ABBV) opened at $100.34 on Monday. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. AbbVie Inc has a 52 week low of $59.27 and a 52 week high of $101.28. The firm has a market capitalization of $160,185.78, a price-to-earnings ratio of 24.41, a price-to-earnings-growth ratio of 1.20 and a beta of 1.52.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same period last year, the business earned $1.21 EPS. The business’s revenue was up 8.8% on a year-over-year basis. equities research analysts anticipate that AbbVie Inc will post 5.54 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Thursday, January 11th. This is a boost from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a yield of 2.83%. AbbVie’s dividend payout ratio (DPR) is 69.10%.

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About AbbVie

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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