Raymond James Trust N.A. Grows Holdings in AbbVie Inc. (NYSE:ABBV)

Raymond James Trust N.A. lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 170,230 shares of the company’s stock after purchasing an additional 4,580 shares during the period. Raymond James Trust N.A.’s holdings in AbbVie were worth $18,240,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. CVA Family Office LLC purchased a new stake in AbbVie in the 3rd quarter worth $26,000. Harding Loevner LP increased its stake in shares of AbbVie by 118.4% during the third quarter. Harding Loevner LP now owns 332 shares of the company’s stock worth $29,000 after purchasing an additional 180 shares in the last quarter. James Investment Research Inc. purchased a new stake in shares of AbbVie during the third quarter worth about $32,000. ELM Advisors LLC purchased a new stake in shares of AbbVie during the fourth quarter worth about $43,000. Finally, Roble Belko & Company Inc increased its stake in AbbVie by 70.8% during the 3rd quarter. Roble Belko & Company Inc now owns 415 shares of the company’s stock worth $36,000 after buying an additional 172 shares in the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.

In related news, EVP Jeffrey Ryan Stewart sold 25,290 shares of the stock in a transaction that occurred on Tuesday, December 29th. The shares were sold at an average price of $105.00, for a total transaction of $2,655,450.00. Following the completion of the transaction, the executive vice president now owns 76,259 shares of the company’s stock, valued at approximately $8,007,195. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard A. Gonzalez sold 231,604 shares of the stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $96.88, for a total transaction of $22,437,795.52. In the last ninety days, insiders have sold 308,884 shares of company stock valued at $30,552,196. 0.09% of the stock is currently owned by insiders.

ABBV has been the subject of several research reports. Sanford C. Bernstein started coverage on AbbVie in a research note on Tuesday, November 10th. They set an “outperform” rating and a $120.00 price objective for the company. The Goldman Sachs Group cut AbbVie from a “neutral” rating to a “sell” rating in a research report on Tuesday, October 20th. Morgan Stanley upped their target price on shares of AbbVie from $108.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, November 30th. ValuEngine raised shares of AbbVie from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 1st. Finally, SVB Leerink upped their target price on shares of AbbVie from $119.00 to $128.00 and gave the stock an “outperform” rating in a report on Wednesday, December 16th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $112.50.

Shares of AbbVie stock opened at $112.45 on Thursday. The firm has a market capitalization of $198.53 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 1.49 and a beta of 0.84. AbbVie Inc. has a fifty-two week low of $62.55 and a fifty-two week high of $113.41. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.81 and a current ratio of 0.95. The stock has a 50 day moving average of $105.61 and a 200 day moving average of $96.04.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 30th. The company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $0.08. The business had revenue of $12.88 billion during the quarter, compared to analysts’ expectations of $12.71 billion. AbbVie had a return on equity of 439.24% and a net margin of 18.16%. The company’s revenue was up 51.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.33 EPS. Analysts forecast that AbbVie Inc. will post 10.48 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 16th. Shareholders of record on Friday, January 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.62%. The ex-dividend date is Thursday, January 14th. This is a positive change from AbbVie’s previous quarterly dividend of $1.18. AbbVie’s dividend payout ratio (DPR) is 52.80%.

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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