RiverPoint Capital Management LLC Acquires 255 Shares of AbbVie Inc. (ABBV)

RiverPoint Capital Management LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,759 shares of the company’s stock after purchasing an additional 255 shares during the quarter. RiverPoint Capital Management LLC’s holdings in AbbVie were worth $780,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABBV. Acropolis Investment Management LLC purchased a new stake in shares of AbbVie in the second quarter worth about $106,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in shares of AbbVie in the first quarter worth about $108,000. Atwood & Palmer Inc. lifted its holdings in shares of AbbVie by 1,333.3% in the first quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock worth $140,000 after buying an additional 2,000 shares in the last quarter. Tradewinds Capital Management LLC lifted its holdings in shares of AbbVie by 87.2% in the first quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock worth $148,000 after buying an additional 1,057 shares in the last quarter. Finally, Exane Asset Management purchased a new stake in shares of AbbVie in the second quarter worth about $181,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Inc. (ABBV) opened at $94.75 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. AbbVie Inc. has a fifty-two week low of $58.60 and a fifty-two week high of $98.26. The stock has a market cap of $151,852.42, a P/E ratio of 17.91, a PEG ratio of 1.32 and a beta of 1.51.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter last year, the business earned $1.21 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. research analysts forecast that AbbVie Inc. will post 5.55 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a $0.71 dividend. This is a boost from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.84 annualized dividend and a dividend yield of 3.00%. AbbVie’s dividend payout ratio (DPR) is currently 62.29%.

ABBV has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. BidaskClub raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Saturday. BMO Capital Markets set a $66.00 target price on shares of AbbVie and gave the company a “hold” rating in a research note on Friday, October 27th. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of AbbVie in a research note on Monday, October 30th. Finally, Leerink Swann lowered their target price on shares of AbbVie from $108.00 to $107.00 and set an “outperform” rating on the stock in a research note on Monday, October 30th. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $93.68.

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In related news, EVP Michael Severino sold 25,633 shares of the firm’s 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 completion of the sale, the executive vice president now owns 114,922 shares of the company’s stock, valued at $10,881,964.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $85.02, for a total value of $705,666.00. Following the completion of the sale, the senior vice president now directly owns 93,099 shares of the company’s stock, valued at approximately $7,915,276.98. The disclosure for this sale can be found here. Insiders sold 58,932 shares of company stock valued at $5,379,432 in the last ninety days. 0.23% of the stock is currently owned by insiders.

AbbVie Company Profile

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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