Intellectus Partners LLC Purchases 2,313 Shares of AbbVie Inc (NYSE:ABBV)

Intellectus Partners LLC raised its position in shares of AbbVie Inc (NYSE:ABBV) by 24.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,787 shares of the company’s stock after purchasing an additional 2,313 shares during the period. Intellectus Partners LLC’s holdings in AbbVie were worth $893,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Capital Partners Inc. raised its position in shares of AbbVie by 3.4% in the 1st quarter. Legacy Capital Partners Inc. now owns 59,234 shares of the company’s stock worth $4,774,000 after acquiring an additional 1,955 shares in the last quarter. Centric Wealth Management grew its stake in AbbVie by 20.1% during the 1st quarter. Centric Wealth Management now owns 3,184 shares of the company’s stock worth $257,000 after buying an additional 532 shares during the last quarter. Manning & Napier Group LLC grew its stake in AbbVie by 28.3% during the 1st quarter. Manning & Napier Group LLC now owns 379,320 shares of the company’s stock worth $30,569,000 after buying an additional 83,583 shares during the last quarter. Adams Asset Advisors LLC grew its stake in AbbVie by 1.4% during the 1st quarter. Adams Asset Advisors LLC now owns 69,748 shares of the company’s stock worth $5,620,000 after buying an additional 959 shares during the last quarter. Finally, Country Club Trust Company n.a. grew its stake in AbbVie by 15.2% during the 1st quarter. Country Club Trust Company n.a. now owns 5,625 shares of the company’s stock worth $453,000 after buying an additional 743 shares during the last quarter. 68.14% of the stock is owned by institutional investors and hedge funds.

In other news, major shareholder Istar Inc. bought 40,000 shares of AbbVie stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $28.52 per share, with a total value of $1,140,800.00. Also, EVP Timothy J. Richmond sold 15,515 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $75.02, for a total value of $1,163,935.30. The disclosure for this sale can be found here. Insiders have acquired 183,077 shares of company stock valued at $10,705,751 in the last three months. Insiders own 0.08% of the company’s stock.



Several brokerages recently weighed in on ABBV. UBS Group upgraded AbbVie from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $85.00 to $79.00 in a research note on Thursday, September 12th. Piper Jaffray Companies boosted their target price on AbbVie from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Citigroup upgraded AbbVie from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $87.00 to $90.00 in a research note on Thursday, September 26th. Svb Leerink upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 target price on the stock in a research note on Wednesday, June 26th. Finally, Wolfe Research upgraded AbbVie from an “underperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $89.97.

Shares of ABBV traded down $0.44 during mid-day trading on Friday, reaching $74.01. The company had a trading volume of 1,819,401 shares, compared to its average volume of 7,972,179. AbbVie Inc has a 52-week low of $62.66 and a 52-week high of $94.98. The stock has a market capitalization of $108.71 billion, a P/E ratio of 9.36, a PEG ratio of 1.50 and a beta of 0.99. The stock has a 50 day moving average of $70.30 and a two-hundred day moving average of $73.90.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 26th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.05. The firm had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.09 billion. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The company’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.00 earnings per share. Analysts anticipate that AbbVie Inc will post 8.9 earnings per share for the current year.

The company also recently announced a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $1.07 per share. The ex-dividend date is Friday, October 11th. This represents a dividend yield of 6.4%. AbbVie’s payout ratio is currently 54.11%.

AbbVie 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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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