BRYN MAWR TRUST Co lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,199 shares of the company’s stock after selling 1,171 shares during the quarter. BRYN MAWR TRUST Co’s holdings in AbbVie were worth $5,172,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. OLD Mission Capital LLC bought a new position in AbbVie in the 3rd quarter worth $242,000. Camden National Bank grew its position in AbbVie by 2.3% in the 4th quarter. Camden National Bank now owns 10,924 shares of the company’s stock worth $1,171,000 after purchasing an additional 245 shares during the last quarter. Morgan Stanley grew its position in AbbVie by 1.1% in the 2nd 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 last quarter. Keudell Morrison Wealth Management grew its position in AbbVie by 5.0% in the 3rd quarter. Keudell Morrison Wealth Management now owns 30,717 shares of the company’s stock worth $3,313,000 after purchasing an additional 1,469 shares during the last quarter. Finally, Center for Financial Planning Inc. grew its position in AbbVie by 4.1% in the 3rd quarter. Center for Financial Planning Inc. now owns 12,004 shares of the company’s stock worth $1,295,000 after purchasing an additional 471 shares during the last quarter. Hedge funds and other institutional investors own 67.03% of the company’s stock.
In other AbbVie news, Vice Chairman Michael Severino sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $150.28, for a total value of $15,028,000.00. Following the completion of the sale, the insider now owns 152,103 shares of the company’s stock, valued at $22,858,038.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Robert A. Michael sold 43,105 shares of the company’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $148.25, for a total transaction of $6,390,316.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 304,423 shares of company stock valued at $45,925,851. 0.08% of the stock is currently owned by insiders.
AbbVie (NYSE:ABBV – Get Rating) last announced its earnings results on Friday, April 29th. The company reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.02. AbbVie had a net margin of 22.00% and a return on equity of 159.31%. The company had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.61 billion. During the same period in the previous year, the firm posted $2.95 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. Equities analysts anticipate that AbbVie Inc. will post 14.06 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 16th. Investors of record on Friday, April 15th will be paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Wednesday, April 13th. AbbVie’s dividend payout ratio (DPR) is 80.92%.
Several analysts have recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of AbbVie from $161.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 25th. Bank of America lifted their target price on shares of AbbVie from $135.00 to $138.00 and gave the company a “neutral” rating in a research report on Thursday, February 3rd. Citigroup lifted their target price on shares of AbbVie from $155.00 to $170.00 in a research report on Tuesday, March 1st. Morgan Stanley lifted their target price on shares of AbbVie from $142.00 to $192.00 and gave the company an “overweight” rating in a research report on Wednesday, April 6th. Finally, UBS Group lowered shares of AbbVie from a “buy” rating to a “neutral” rating and lifted their target price for the company from $129.00 to $147.00 in a research report on Monday, February 28th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie has a consensus rating of “Buy” and an average price target of $159.44.
AbbVie Profile (Get Rating)
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. 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), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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