BerganKDV Wealth Management LLC cut its stake in shares of AbbVie Inc (NYSE:ABBV) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,169 shares of the company’s stock after selling 703 shares during the period. BerganKDV Wealth Management LLC’s holdings in AbbVie were worth $2,044,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Pure Financial Advisors Inc. increased its stake in shares of AbbVie by 1.0% during the fourth quarter. Pure Financial Advisors Inc. now owns 11,606 shares of the company’s stock worth $1,070,000 after purchasing an additional 116 shares during the period. Planning Directions Inc. increased its stake in shares of AbbVie by 3.3% during the fourth quarter. Planning Directions Inc. now owns 3,890 shares of the company’s stock worth $359,000 after purchasing an additional 126 shares during the period. NewSquare Capital LLC increased its stake in shares of AbbVie by 0.7% during the fourth quarter. NewSquare Capital LLC now owns 19,562 shares of the company’s stock worth $1,803,000 after purchasing an additional 137 shares during the period. IMS Capital Management increased its stake in shares of AbbVie by 1.0% during the third quarter. IMS Capital Management now owns 14,797 shares of the company’s stock worth $1,400,000 after purchasing an additional 143 shares during the period. Finally, First National Bank Sioux Falls increased its stake in shares of AbbVie by 3.6% during the fourth quarter. First National Bank Sioux Falls now owns 4,213 shares of the company’s stock worth $388,000 after purchasing an additional 145 shares during the period. 70.66% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on the company. Morgan Stanley set a $88.00 target price on AbbVie and gave the stock 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. Argus lowered AbbVie from a “buy” rating to a “hold” rating in a research note on Monday, March 25th. Barclays reiterated a “hold” rating and set a $86.00 target price on shares of AbbVie in a research note on Thursday, February 14th. Finally, Credit Suisse Group set a $79.00 target price on AbbVie and gave the stock a “hold” rating in a research note on Friday, January 25th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. AbbVie has a consensus rating of “Hold” and a consensus target price of $94.48.
In other AbbVie news, EVP Azita Saleki-Gerhardt sold 15,797 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $79.03, for a total value of $1,248,436.91. Following the sale, the executive vice president now owns 93,312 shares of the company’s stock, valued at approximately $7,374,447.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Laura J. Schumacher sold 25,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $80.00, for a total value of $2,000,000.00. Following the completion of the sale, the insider now directly owns 139,838 shares in the company, valued at approximately $11,187,040. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,272 shares of company stock worth $3,286,290. Company insiders own 0.08% of the company’s stock.
AbbVie stock traded up $0.25 during mid-day trading on Monday, reaching $81.03. 3,293,206 shares of the company were exchanged, compared to its average volume of 6,559,839. AbbVie Inc has a 12 month low of $75.77 and a 12 month high of $107.25. The firm has a market cap of $119.16 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of 1.68 and a beta of 1.16.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 25th. The company reported $1.90 EPS for the quarter, missing the Zacks’ 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 the consensus estimate of $8.37 billion. During the same quarter last year, the business earned $1.48 EPS. AbbVie’s revenue was up 7.3% on a year-over-year basis. On average, equities analysts expect that AbbVie Inc will post 8.69 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio is presently 54.11%.
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AbbVie Company Profile
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.
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