Cobiz Wealth LLC reduced its position in shares of AbbVie Inc (NYSE:ABBV) by 15.6% in the fourth quarter, HoldingsChannel reports. The firm owned 10,888 shares of the company’s stock after selling 2,006 shares during the quarter. Cobiz Wealth LLC’s holdings in AbbVie were worth $1,053,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Marshall Wace North America L.P. boosted its holdings in shares of AbbVie by 510.9% in the second quarter. Marshall Wace North America L.P. now owns 111,274 shares of the company’s stock worth $8,123,000 after buying an additional 93,060 shares during the last quarter. Hourglass Capital LLC boosted its holdings in shares of AbbVie by 0.8% in the second quarter. Hourglass Capital LLC now owns 86,930 shares of the company’s stock worth $6,303,000 after buying an additional 650 shares during the last quarter. Wayne Hummer Investments L.L.C. boosted its holdings in shares of AbbVie by 0.8% in the second quarter. Wayne Hummer Investments L.L.C. now owns 29,528 shares of the company’s stock worth $2,141,000 after buying an additional 235 shares during the last quarter. Montag A & Associates Inc. boosted its holdings in shares of AbbVie by 0.4% in the second quarter. Montag A & Associates Inc. now owns 70,349 shares of the company’s stock worth $5,101,000 after buying an additional 253 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its holdings in shares of AbbVie by 23.2% in the second quarter. Pzena Investment Management LLC now owns 5,137 shares of the company’s stock worth $372,000 after buying an additional 967 shares during the last quarter. Institutional investors and hedge funds own 70.63% of the company’s stock.
Shares of AbbVie Inc (NYSE ABBV) opened at $118.30 on Tuesday. The stock has a market cap of $187,860.00, a P/E ratio of 21.35, a PEG ratio of 1.13 and a beta of 1.52. The company has a current ratio of 1.28, a quick ratio of 1.18 and a debt-to-equity ratio of 6.07. AbbVie Inc has a 1 year low of $63.12 and a 1 year high of $125.86.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be given a dividend of $0.96 per share. The ex-dividend date is Thursday, April 12th. This represents a $3.84 annualized dividend and a dividend yield of 3.25%. This is a boost from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s dividend payout ratio (DPR) is presently 51.26%.
AbbVie declared that its board has approved a stock repurchase program on Thursday, February 15th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
A number of equities analysts recently issued reports on the stock. Vetr raised shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $128.42 price objective on the stock in a report on Tuesday, March 6th. Jefferies Group set a $145.00 price objective on shares of AbbVie and gave the stock a “buy” rating in a report on Monday, February 26th. BMO Capital Markets set a $95.00 price target on shares of AbbVie and gave the company a “sell” rating in a report on Wednesday, February 21st. Piper Jaffray Companies lifted their price target on shares of AbbVie from $130.00 to $138.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Finally, Argus lifted their price target on shares of AbbVie from $120.00 to $145.00 and gave the company a “buy” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. AbbVie presently has a consensus rating of “Buy” and an average target price of $120.96.
In other AbbVie news, EVP Carlos Alban sold 83,574 shares of AbbVie stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $114.49, for a total transaction of $9,568,387.26. Following the completion of the transaction, the executive vice president now directly owns 133,026 shares of the company’s stock, valued at $15,230,146.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Laura J. Schumacher sold 145,510 shares of AbbVie stock in a transaction on Friday, December 15th. The stock was sold at an average price of $96.71, for a total transaction of $14,072,272.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 443,747 shares of company stock worth $47,226,935. Company 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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