Foster & Motley Inc. raised its holdings in shares of AbbVie Inc (NYSE:ABBV) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,307 shares of the company’s stock after buying an additional 337 shares during the quarter. Foster & Motley Inc.’s holdings in AbbVie were worth $4,177,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Horrell Capital Management Inc. acquired a new position in shares of AbbVie in the fourth quarter valued at $41,000. Massey Quick Simon & CO. LLC acquired a new position in shares of AbbVie in the fourth quarter valued at $64,000. Brand Asset Management Group Inc. raised its stake in shares of AbbVie by 60.7% in the fourth quarter. Brand Asset Management Group Inc. now owns 1,059 shares of the company’s stock valued at $98,000 after purchasing an additional 400 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in shares of AbbVie in the third quarter valued at $112,000. Finally, LeJeune Puetz Investment Counsel LLC acquired a new position in shares of AbbVie in the fourth quarter valued at $145,000. Institutional investors own 68.40% of the company’s stock.
AbbVie stock opened at $81.34 on Friday. AbbVie Inc has a 52-week low of $75.77 and a 52-week high of $116.73. The firm has a market cap of $119.98 billion, a price-to-earnings ratio of 10.28, a P/E/G ratio of 1.19 and a beta of 1.17.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 25th. The company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.92 by ($0.02). AbbVie had a negative return on equity of 439.07% and a net margin of 17.36%. The company had revenue of $8.31 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the prior year, the company earned $1.48 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year. Equities analysts anticipate that AbbVie Inc will post 8.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a dividend of $1.07 per share. The ex-dividend date is Friday, April 12th. This represents a $4.28 annualized dividend and a yield of 5.26%. AbbVie’s dividend payout ratio is currently 54.11%.
AbbVie announced that its Board of Directors has approved a stock repurchase program on Thursday, December 13th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 3.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
A number of research analysts recently commented on the company. Morgan Stanley set a $88.00 target price on AbbVie and gave the company a “hold” rating in a research note on Thursday, December 20th. Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. Barclays restated a “hold” rating and issued a $86.00 target price on shares of AbbVie in a research note on Thursday, February 14th. Credit Suisse Group set a $79.00 target price on AbbVie and gave the company a “hold” rating in a research note on Friday, January 25th. Finally, ValuEngine lowered AbbVie from a “hold” rating to a “sell” rating in a research note on Friday, January 25th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. AbbVie presently has a consensus rating of “Hold” and an average target price of $94.48.
In other news, EVP Azita Saleki-Gerhardt sold 15,797 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $79.03, for a total transaction of $1,248,436.91. Following the sale, the executive vice president now owns 93,312 shares in the company, valued at $7,374,447.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Laura J. Schumacher sold 25,000 shares of the stock in a transaction on Friday, December 28th. The stock was sold at an average price of $90.00, for a total value of $2,250,000.00. Following the sale, the insider now owns 134,322 shares in the company, valued at approximately $12,088,980. The disclosure for this sale can be found here. Insiders have sold 90,797 shares of company stock valued at $7,748,437 over the last quarter. Corporate insiders own 0.07% of the company’s stock.
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AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C.
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