Appleton Partners Inc. MA Increases Stake in AbbVie Inc. (NYSE:ABBV)

Appleton Partners Inc. MA lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 7.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,555 shares of the company’s stock after buying an additional 2,909 shares during the quarter. Appleton Partners Inc. MA’s holdings in AbbVie were worth $4,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of AbbVie by 0.7% during the second quarter. Vanguard Group Inc. now owns 144,693,566 shares of the company’s stock valued at $16,298,283,000 after buying an additional 959,620 shares during the period. State Street Corp increased its position in shares of AbbVie by 0.6% during the second quarter. State Street Corp now owns 75,963,304 shares of the company’s stock valued at $8,556,507,000 after buying an additional 467,356 shares during the period. Bank of New York Mellon Corp grew its holdings in AbbVie by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 20,995,514 shares of the company’s stock worth $2,364,933,000 after purchasing an additional 393,894 shares during the period. Morgan Stanley grew its holdings in AbbVie by 1.1% in the second quarter. Morgan Stanley now owns 18,944,687 shares of the company’s stock worth $2,133,931,000 after purchasing an additional 214,425 shares during the period. Finally, Franklin Resources Inc. grew its holdings in AbbVie by 79.5% in the second quarter. Franklin Resources Inc. now owns 16,643,367 shares of the company’s stock worth $1,874,708,000 after purchasing an additional 7,370,931 shares during the period. Institutional investors own 65.86% of the company’s stock.

A number of equities research analysts have weighed in on the stock. SVB Leerink cut their price objective on shares of AbbVie from $142.00 to $135.00 and set an “outperform” rating on the stock in a report on Monday, November 1st. Barclays upped their price objective on shares of AbbVie from $112.00 to $118.00 and gave the stock an “equal weight” rating in a report on Monday, November 1st. Societe Generale upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a report on Tuesday. Morgan Stanley upped their target price on shares of AbbVie from $116.00 to $124.00 and gave the stock an “overweight” rating in a research note on Monday, November 1st. Finally, Argus upped their target price on shares of AbbVie from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 5th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $129.58.

Shares of NYSE ABBV traded down $0.22 during midday trading on Thursday, reaching $118.66. The stock had a trading volume of 5,792,843 shares, compared to its average volume of 6,833,980. The company has a market capitalization of $209.69 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 2.46 and a beta of 0.83. The stock has a 50-day moving average of $111.61 and a 200-day moving average of $113.90. AbbVie Inc. has a 12-month low of $101.55 and a 12-month high of $121.53. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.91 and a current ratio of 1.01.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, October 28th. The company reported $3.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.22 by $0.11. The company had revenue of $14.34 billion during the quarter, compared to analysts’ expectations of $14.30 billion. AbbVie had a net margin of 13.66% and a return on equity of 166.05%. AbbVie’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the company posted $2.83 earnings per share. As a group, analysts forecast that AbbVie Inc. will post 12.69 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 15th. Shareholders of record on Friday, January 14th will be given a dividend of $1.41 per share. The ex-dividend date is Thursday, January 13th. This represents a $5.64 annualized dividend and a yield of 4.75%. This is a positive change from AbbVie’s previous quarterly dividend of $1.30. AbbVie’s dividend payout ratio (DPR) is 123.81%.

In other news, Director Roxanne S. Austin sold 51,844 shares of the firm’s stock in a transaction dated Tuesday, November 2nd. The shares were sold at an average price of $116.38, for a total value of $6,033,604.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by company insiders.

About AbbVie

AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses 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; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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