Weybosset Research & Management LLC Acquires Shares of 4,450 AbbVie Inc (NYSE:ABBV)

Weybosset Research & Management LLC acquired a new stake in shares of AbbVie Inc (NYSE:ABBV) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 4,450 shares of the company’s stock, valued at approximately $394,000.

Other institutional investors also recently modified their holdings of the company. 1ST Source Bank boosted its holdings in shares of AbbVie by 3.3% during the 4th quarter. 1ST Source Bank now owns 19,437 shares of the company’s stock valued at $1,721,000 after buying an additional 621 shares in the last quarter. Raub Brock Capital Management LP bought a new stake in shares of AbbVie during the 4th quarter valued at $26,223,000. Arizona State Retirement System boosted its holdings in shares of AbbVie by 0.6% during the 4th quarter. Arizona State Retirement System now owns 277,684 shares of the company’s stock valued at $24,586,000 after buying an additional 1,612 shares in the last quarter. Domani Wealth LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $211,000. Finally, Birch Capital Management LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $1,729,000. 70.46% of the stock is currently owned by institutional investors and hedge funds.

AbbVie stock traded up $0.81 during mid-day trading on Monday, reaching $84.35. The stock had a trading volume of 8,840,490 shares, compared to its average volume of 7,502,224. The company has a market capitalization of $123.54 billion, a price-to-earnings ratio of 38.87, a PEG ratio of 1.97 and a beta of 0.97. The company has a 50-day moving average price of $88.47 and a two-hundred day moving average price of $77.49. AbbVie Inc has a one year low of $62.66 and a one year high of $91.99.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, November 1st. The company reported $2.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.29 by $0.04. AbbVie had a net margin of 9.90% and a negative return on equity of 155.96%. The company had revenue of $8.48 billion for the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter in the previous year, the business posted $2.14 EPS. AbbVie’s revenue was up 3.0% compared to the same quarter last year. On average, analysts forecast that AbbVie Inc will post 8.95 EPS for the current year.

The firm also recently announced a — dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $1.18 dividend. This is a positive change from AbbVie’s previous — dividend of $1.07. The ex-dividend date is Tuesday, January 14th. This represents a yield of 5.93%. AbbVie’s payout ratio is 59.67%.

A number of analysts have recently commented on the stock. Piper Jaffray Companies boosted their target price on shares of AbbVie from $81.00 to $90.00 in a report on Friday, November 1st. Bank of America cut shares of AbbVie from a “buy” rating to a “neutral” rating in a report on Friday, January 3rd. UBS Group boosted their target price on shares of AbbVie from $79.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Citigroup upped their price target on shares of AbbVie from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Cowen upped their price target on shares of AbbVie from $90.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, December 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $86.33.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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