BT Investment Management Ltd bought a new position in shares of AbbVie Inc (NYSE:ABBV) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 117,148 shares of the company’s stock, valued at approximately $10,457,000.
Several other large investors also recently modified their holdings of ABBV. Formidable Asset Management LLC raised its stake in AbbVie by 0.3% during the second quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock valued at $285,000 after purchasing an additional 10 shares in the last quarter. WealthTrust Axiom LLC raised its stake in AbbVie by 0.3% during the second quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock valued at $312,000 after purchasing an additional 15 shares in the last quarter. Abner Herrman & Brock LLC raised its stake in AbbVie by 0.3% during the second quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock valued at $456,000 after purchasing an additional 18 shares in the last quarter. St. Louis Trust Co raised its stake in AbbVie by 0.7% during the second quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock valued at $248,000 after purchasing an additional 23 shares in the last quarter. Finally, TRUE Private Wealth Advisors raised its stake in AbbVie by 0.6% during the second quarter. TRUE Private Wealth Advisors now owns 4,814 shares of the company’s stock valued at $349,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 69.18% of the company’s stock.
Shares of AbbVie Inc (NYSE ABBV) opened at $99.69 on Thursday. AbbVie Inc has a 12 month low of $59.27 and a 12 month high of $101.28. The firm has a market cap of $158,920.00, a price-to-earnings ratio of 24.20, a PEG ratio of 1.20 and a beta of 1.53. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08.
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 paid a $0.71 dividend. The ex-dividend date is Thursday, January 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.85%. This is an increase from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio is currently 62.14%.
A number of equities research analysts recently issued reports on ABBV shares. Societe Generale upped their price target on shares of AbbVie in a research note on Tuesday, November 21st. Jefferies Group reaffirmed a “buy” rating and set a $107.00 price target (up previously from $94.00) on shares of AbbVie in a research note on Friday, September 15th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $100.00 price target on shares of AbbVie in a research note on Friday, September 15th. SunTrust Banks reaffirmed a “buy” rating and set a $95.00 price target on shares of AbbVie in a research note on Wednesday, September 13th. Finally, Argus upped their price target on shares of AbbVie from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, September 29th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. AbbVie currently has a consensus rating of “Buy” and an average target price of $100.94.
In other news, EVP Michael Severino sold 25,633 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $94.69, for a total value of $2,427,188.77. Following the transaction, the executive vice president now directly owns 114,922 shares in the company, valued at $10,881,964.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Henry O. Gosebruch sold 18,300 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the completion of the transaction, the insider now owns 81,287 shares in the company, valued at $7,360,537.85. The disclosure for this sale can be found here. In the last three months, insiders sold 494,676 shares of company stock worth $47,237,938. Insiders own 0.23% of the company’s stock.
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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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