Pettyjohn Wood & White Inc. grew its position in shares of AbbVie Inc (NYSE:ABBV) by 23.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,264 shares of the company’s stock after purchasing an additional 5,545 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in AbbVie were worth $2,216,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Arbor Wealth Management LLC bought a new stake in shares of AbbVie in the 2nd quarter worth approximately $28,000. Lowe Wealth Advisors LLC grew its position in shares of AbbVie by 206.7% in the 2nd quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock worth $33,000 after buying an additional 310 shares during the last quarter. Horrell Capital Management Inc. bought a new stake in shares of AbbVie in the 2nd quarter worth approximately $33,000. TD Capital Management LLC bought a new stake in shares of AbbVie in the 2nd quarter worth approximately $33,000. Finally, Financial Gravity Wealth Inc. grew its position in shares of AbbVie by 82.9% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 503 shares of the company’s stock worth $37,000 after buying an additional 228 shares during the last quarter. Hedge funds and other institutional investors own 68.38% of the company’s stock.
ABBV has been the topic of a number of recent analyst reports. ValuEngine upgraded AbbVie from a “strong sell” rating to a “sell” rating in a research report on Monday, September 30th. Piper Jaffray Companies lifted their price objective on AbbVie from $81.00 to $90.00 in a research report on Friday, November 1st. Cowen set a $90.00 target price on AbbVie and gave the company a “buy” rating in a research note on Tuesday, September 24th. TheStreet cut AbbVie from a “b-” rating to a “c” rating in a research note on Monday, August 26th. Finally, UBS Group upgraded AbbVie from a “neutral” rating to a “buy” rating and lowered their target price for the company from $85.00 to $79.00 in a research note on Thursday, September 12th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $84.88.
In other AbbVie news, EVP Timothy J. Richmond sold 15,515 shares of AbbVie stock in a transaction on Friday, September 27th. The stock was sold at an average price of $75.02, for a total transaction of $1,163,935.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Laura J. Schumacher acquired 25,000 shares of the stock in a transaction on Monday, September 16th. The shares were bought at an average price of $70.42 per share, with a total value of $1,760,500.00. Following the purchase, the insider now directly owns 164,838 shares of the company’s stock, valued at approximately $11,607,891.96. The disclosure for this purchase can be found here. Insiders have acquired 88,077 shares of company stock valued at $4,401,551 in the last quarter. 0.08% of the stock is owned by company insiders.
Shares of ABBV traded up $3.20 on Friday, reaching $85.21. The stock had a trading volume of 11,363,435 shares, compared to its average volume of 7,972,123. The firm has a market capitalization of $121.00 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 2.04 and a beta of 0.98. The company has a 50-day simple moving average of $76.02 and a 200-day simple moving average of $73.45. AbbVie Inc has a 12-month low of $62.66 and a 12-month high of $94.98.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, November 1st. The company reported $2.33 EPS for the quarter, beating the Zacks’ consensus estimate of $2.29 by $0.04. The company had revenue of $8.48 billion during the quarter, compared to analysts’ expectations of $8.37 billion. AbbVie had a negative return on equity of 155.71% and a net margin of 9.90%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.14 EPS. As a group, sell-side analysts predict that AbbVie Inc will post 8.93 earnings per share for the current fiscal year.
The business also recently disclosed a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $1.07 per share. This represents a yield of 6.4%. The ex-dividend date is Friday, October 11th. AbbVie’s payout ratio is 54.11%.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
Featured Article: Conference Calls
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.