Diversified Trust Co Boosts Stake in AbbVie Inc. (NYSE:ABBV)

Diversified Trust Co lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,643 shares of the company’s stock after acquiring an additional 285 shares during the quarter. Diversified Trust Co’s holdings in AbbVie were worth $1,808,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Coastline Trust Co lifted its stake in AbbVie by 3.9% in the 3rd quarter. Coastline Trust Co now owns 28,031 shares of the company’s stock valued at $2,455,000 after buying an additional 1,055 shares in the last quarter. Bowling Portfolio Management LLC lifted its stake in AbbVie by 342.2% in the 3rd quarter. Bowling Portfolio Management LLC now owns 27,144 shares of the company’s stock valued at $2,378,000 after buying an additional 21,006 shares in the last quarter. Insight Folios Inc lifted its stake in AbbVie by 3.7% in the 3rd quarter. Insight Folios Inc now owns 39,440 shares of the company’s stock valued at $3,455,000 after buying an additional 1,407 shares in the last quarter. FormulaFolio Investments LLC lifted its stake in AbbVie by 7.8% in the 3rd quarter. FormulaFolio Investments LLC now owns 26,447 shares of the company’s stock valued at $2,316,000 after buying an additional 1,909 shares in the last quarter. Finally, Fortem Financial Group LLC purchased a new position in AbbVie in the 3rd quarter valued at about $1,485,000. 68.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie stock opened at $86.27 on Friday. AbbVie Inc. has a fifty-two week low of $62.55 and a fifty-two week high of $101.28. The company has a debt-to-equity ratio of 5.57, a quick ratio of 0.70 and a current ratio of 0.86. The firm has a 50 day moving average price of $89.38 and a 200 day moving average price of $90.44. The company has a market capitalization of $152.25 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, July 31st. The company reported $2.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.14. AbbVie had a net margin of 19.20% and a negative return on equity of 628.57%. The firm had revenue of $10.43 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter last year, the firm earned $2.26 EPS. The firm’s revenue for the quarter was up 26.3% on a year-over-year basis. As a group, equities research analysts forecast that AbbVie Inc. will post 10.44 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be issued a $1.18 dividend. The ex-dividend date is Wednesday, October 14th. This represents a $4.72 annualized dividend and a yield of 5.47%. AbbVie’s dividend payout ratio (DPR) is presently 52.80%.

ABBV has been the topic of a number of research reports. Berenberg Bank initiated coverage on shares of AbbVie in a research note on Tuesday, September 29th. They issued a “hold” rating and a $98.00 price target on the stock. Atlantic Securities raised shares of AbbVie from a “neutral” rating to an “overweight” rating and set a $115.00 target price on the stock in a research note on Tuesday, June 23rd. Royal Bank of Canada raised their target price on shares of AbbVie from $125.00 to $127.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Mizuho reissued a “buy” rating and issued a $111.00 target price on shares of AbbVie in a research note on Sunday, September 27th. Finally, Citigroup raised their target price on shares of AbbVie from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $108.63.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, 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; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; 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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