Legacy Private Trust Co. Boosts Holdings in AbbVie Inc (ABBV)

Legacy Private Trust Co. raised its position in shares of AbbVie Inc (NYSE:ABBV) by 28.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,841 shares of the company’s stock after acquiring an additional 9,169 shares during the quarter. Legacy Private Trust Co.’s holdings in AbbVie were worth $3,957,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Verition Fund Management LLC raised its holdings in AbbVie by 7.4% in the 1st quarter. Verition Fund Management LLC now owns 7,269 shares of the company’s stock worth $688,000 after acquiring an additional 500 shares during the last quarter. Baxter Bros Inc. raised its holdings in AbbVie by 19.6% in the 1st quarter. Baxter Bros Inc. now owns 3,049 shares of the company’s stock worth $289,000 after acquiring an additional 500 shares during the last quarter. Good Life Advisors LLC raised its holdings in AbbVie by 5.6% in the 2nd quarter. Good Life Advisors LLC now owns 10,060 shares of the company’s stock worth $933,000 after acquiring an additional 537 shares during the last quarter. Lido Advisors LLC raised its holdings in AbbVie by 2.4% in the 2nd quarter. Lido Advisors LLC now owns 23,371 shares of the company’s stock worth $2,165,000 after acquiring an additional 537 shares during the last quarter. Finally, Budros Ruhlin & Roe Inc. raised its holdings in AbbVie by 20.1% in the 1st quarter. Budros Ruhlin & Roe Inc. now owns 3,214 shares of the company’s stock worth $304,000 after acquiring an additional 538 shares during the last quarter. 69.43% of the stock is currently owned by institutional investors and hedge funds.

Shares of ABBV opened at $88.79 on Friday. The firm has a market cap of $131.68 billion, a price-to-earnings ratio of 11.61, a P/E/G ratio of 0.82 and a beta of 1.62. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of 8.70. AbbVie Inc has a 1-year low of $77.50 and a 1-year high of $125.86.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, November 2nd. The company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.13. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.23 billion. AbbVie had a net margin of 23.50% and a return on equity of 671.60%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.41 EPS. Sell-side analysts expect that AbbVie Inc will post 7.93 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Tuesday, January 15th will be paid a dividend of $1.07 per share. The ex-dividend date is Monday, January 14th. This is a positive change from AbbVie’s previous quarterly dividend of $0.96. This represents a $4.28 dividend on an annualized basis and a yield of 4.82%. AbbVie’s payout ratio is currently 68.57%.

A number of equities analysts recently weighed in on ABBV shares. Piper Jaffray Companies restated a “hold” rating and issued a $100.00 price objective on shares of AbbVie in a report on Friday, July 27th. BMO Capital Markets restated a “sell” rating and issued a $78.00 price objective on shares of AbbVie in a report on Wednesday, August 22nd. Wolfe Research started coverage on shares of AbbVie in a report on Tuesday, October 23rd. They issued an “underperform” rating for the company. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a report on Monday, October 1st. Finally, Credit Suisse Group set a $85.00 price objective on shares of AbbVie and gave the stock a “hold” rating in a report on Friday, November 2nd. Five research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. AbbVie presently has a consensus rating of “Hold” and an average price target of $103.68.

In other AbbVie news, EVP Michael Severino sold 50,000 shares of the business’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the completion of the sale, the executive vice president now directly owns 111,481 shares in the company, valued at approximately $10,871,627.12. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.07% of the stock is currently owned by insiders.

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AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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