Rothschild Investment Corp IL decreased its holdings in AbbVie Inc (NYSE:ABBV) by 8.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 176,186 shares of the company’s stock after selling 16,547 shares during the period. AbbVie makes up about 1.9% of Rothschild Investment Corp IL’s investment portfolio, making the stock its 5th largest position. Rothschild Investment Corp IL’s holdings in AbbVie were worth $17,039,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of ABBV. Beaton Management Co. Inc. acquired a new stake in shares of AbbVie during the second quarter worth approximately $528,000. Jennison Associates LLC acquired a new stake in shares of AbbVie during the third quarter worth approximately $544,418,000. Capital International Investors grew its position in shares of AbbVie by 137.7% during the third quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock worth $697,989,000 after buying an additional 4,550,954 shares in the last quarter. Parsec Financial Management Inc. grew its position in shares of AbbVie by 265.3% during the third quarter. Parsec Financial Management Inc. now owns 20,881 shares of the company’s stock worth $1,856,000 after buying an additional 15,165 shares in the last quarter. Finally, First Merchants Corp grew its position in shares of AbbVie by 114.7% during the third quarter. First Merchants Corp now owns 71,497 shares of the company’s stock worth $6,352,000 after buying an additional 38,196 shares in the last quarter. Hedge funds and other institutional investors own 70.63% of the company’s stock.
AbbVie Inc (NYSE ABBV) opened at $119.75 on Wednesday. The company has a market cap of $187,857.22, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 1.12 and a beta of 1.52. The company has a quick ratio of 1.18, a current ratio of 1.28 and a debt-to-equity ratio of 6.07. AbbVie Inc has a 1-year low of $63.12 and a 1-year high of $125.86.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Thursday, April 12th. This is an increase from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s payout ratio is currently 86.32%.
AbbVie announced that its board has initiated a share repurchase plan on Thursday, February 15th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
A number of analysts have recently weighed in on ABBV shares. BMO Capital Markets downgraded shares of AbbVie from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $125.86 to $84.00 in a research report on Monday, January 29th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Credit Suisse Group set a $98.00 price target on shares of AbbVie and gave the stock a “hold” rating in a research report on Monday, January 22nd. Piper Jaffray Companies reissued a “buy” rating on shares of AbbVie in a research report on Tuesday, January 2nd. Finally, SunTrust Banks raised their price target on shares of AbbVie to $157.00 and gave the stock an “average” rating in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $120.96.
In other AbbVie news, VP Robert A. Michael sold 4,294 shares of AbbVie stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $119.43, for a total value of $512,832.42. Following the completion of the transaction, the vice president now owns 11,170 shares of the company’s stock, valued at $1,334,033.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Robert A. Michael sold 992 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $120.31, for a total value of $119,347.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 443,747 shares of company stock valued at $47,226,935. 0.23% of the stock is currently owned by corporate insiders.
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AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused 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 and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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