Armstrong Henry H Associates Inc. Grows Position in AbbVie Inc (ABBV)

Armstrong Henry H Associates Inc. increased its stake in shares of AbbVie Inc (NYSE:ABBV) by 2.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 25,441 shares of the company’s stock after acquiring an additional 600 shares during the period. AbbVie makes up about 0.4% of Armstrong Henry H Associates Inc.’s investment portfolio, making the stock its 21st largest position. Armstrong Henry H Associates Inc.’s holdings in AbbVie were worth $2,460,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bristlecone Advisors LLC purchased a new stake in AbbVie in the 3rd quarter valued at approximately $113,000. Ffcm LLC boosted its holdings in AbbVie by 167.2% in the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after purchasing an additional 963 shares in the last quarter. Hudock Capital Group LLC boosted its holdings in AbbVie by 109.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after purchasing an additional 806 shares in the last quarter. Hershey Trust Co. purchased a new stake in AbbVie in the 3rd quarter valued at approximately $139,000. Finally, BDO Wealth Advisors LLC purchased a new stake in AbbVie in the 2nd quarter valued at approximately $115,000. 70.63% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Inc (NYSE ABBV) opened at $119.75 on Wednesday. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.18 and a current ratio of 1.28. AbbVie Inc has a 12-month low of $63.12 and a 12-month high of $125.86. The stock has a market capitalization of $188,580.00, a P/E ratio of 21.62, a P/E/G ratio of 1.13 and a beta of 1.52.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.04. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The firm had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same period in the previous year, the firm posted $1.20 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. analysts predict that AbbVie Inc will post 7.48 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be given a dividend of $0.96 per share. This is an increase from AbbVie’s previous quarterly dividend of $0.71. This represents a $3.84 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Thursday, April 12th. AbbVie’s payout ratio is currently 51.26%.

AbbVie declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 15th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Several equities research analysts have recently commented on the company. BMO Capital Markets set a $95.00 price target on AbbVie and gave the stock a “sell” rating in a research note on Tuesday. Vetr raised AbbVie from a “buy” rating to a “strong-buy” rating and set a $128.42 price target on the stock in a research note on Tuesday, March 6th. Jefferies Group set a $145.00 price target on AbbVie and gave the stock a “buy” rating in a research note on Monday, February 26th. Piper Jaffray Companies boosted their price target on AbbVie from $130.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Finally, Argus boosted their price target on AbbVie from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. AbbVie presently has an average rating of “Buy” and an average price target of $120.96.

In other AbbVie news, EVP Carlos Alban sold 83,574 shares of the business’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $114.49, for a total value of $9,568,387.26. Following the completion of the transaction, the executive vice president now directly owns 133,026 shares in the company, valued at approximately $15,230,146.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO William J. Chase sold 70,928 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $117.18, for a total value of $8,311,343.04. Following the completion of the transaction, the chief financial officer now owns 203,391 shares of the company’s stock, valued at $23,833,357.38. The disclosure for this sale can be found here. Insiders have sold a total of 443,747 shares of company stock valued at $47,226,935 over the last 90 days. Insiders own 0.23% of the company’s stock.

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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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