Landaas & Co. WI ADV lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,049 shares of the company’s stock after selling 795 shares during the quarter. AbbVie makes up 1.0% of Landaas & Co. WI ADV’s portfolio, making the stock its 10th biggest position. Landaas & Co. WI ADV’s holdings in AbbVie were worth $1,165,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Los Angeles Capital Management & Equity Research Inc. raised its holdings in AbbVie by 24.5% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 740,392 shares of the company’s stock worth $53,686,000 after purchasing an additional 145,691 shares in the last quarter. Spectrum Management Group Inc. grew its stake in shares of AbbVie by 11.5% in the second quarter. Spectrum Management Group Inc. now owns 28,100 shares of the company’s stock worth $2,038,000 after acquiring an additional 2,892 shares during the last quarter. AGF Investments America Inc. grew its stake in shares of AbbVie by 3.6% in the second quarter. AGF Investments America Inc. now owns 29,064 shares of the company’s stock worth $2,107,000 after acquiring an additional 1,017 shares during the last quarter. Ffcm LLC grew its stake in shares of AbbVie by 167.2% in the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after acquiring an additional 963 shares during the last quarter. Finally, Fiduciary Trust Co. grew its stake in shares of AbbVie by 3.2% in the second quarter. Fiduciary Trust Co. now owns 321,953 shares of the company’s stock worth $23,345,000 after acquiring an additional 10,113 shares during the last quarter. Institutional investors and hedge funds own 70.57% of the company’s stock.
A number of equities research analysts have recently commented on the company. Argus increased their target price on AbbVie from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research cut AbbVie from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. BMO Capital Markets cut AbbVie from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $125.86 to $84.00 in a research note on Monday, January 29th. They noted that the move was a valuation call. Bank of America set a $120.00 target price on AbbVie and gave the stock a “hold” rating in a research note on Monday, March 26th. Finally, Barclays cut their target price on AbbVie from $120.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $118.02.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 26th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.44 by $0.04. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The company had revenue of $7.74 billion for the quarter, compared to analysts’ expectations of $7.53 billion. During the same period last year, the firm posted $1.20 earnings per share. AbbVie’s revenue was up 13.9% compared to the same quarter last year. equities analysts anticipate that AbbVie Inc. will post 7.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be given a dividend of $0.96 per share. The ex-dividend date is Thursday, April 12th. This is a boost from AbbVie’s previous quarterly dividend of $0.71. This represents a $3.84 annualized dividend and a dividend yield of 4.10%. AbbVie’s dividend payout ratio (DPR) is 50.71%.
AbbVie declared that its Board of Directors has initiated a stock repurchase program on Thursday, February 15th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In other AbbVie news, EVP Carlos Alban sold 83,574 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $114.49, for a total value of $9,568,387.26. Following the transaction, the executive vice president now directly owns 133,026 shares of the company’s stock, valued at $15,230,146.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert A. Michael sold 992 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was 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. Insiders have sold 211,197 shares of company stock worth $24,585,575 over the last ninety days. 0.07% of the stock is currently owned by insiders.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
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