Graybill Bartz & Assoc Ltd. Takes $350,000 Position in AbbVie Inc (NYSE:ABBV)

Graybill Bartz & Assoc Ltd. purchased a new stake in AbbVie Inc (NYSE:ABBV) during the third quarter, according to its most recent filing with the SEC. The firm purchased 4,625 shares of the company’s stock, valued at approximately $350,000.

Several other large investors also recently made changes to their positions in the company. Bath Savings Trust Co grew its stake in AbbVie by 23.7% during the 2nd quarter. Bath Savings Trust Co now owns 9,198 shares of the company’s stock valued at $669,000 after purchasing an additional 1,760 shares during the last quarter. Cox Capital Mgt LLC grew its stake in AbbVie by 49.1% during the 2nd quarter. Cox Capital Mgt LLC now owns 33,178 shares of the company’s stock valued at $2,413,000 after purchasing an additional 10,921 shares during the last quarter. Thomasville National Bank grew its stake in AbbVie by 2.5% during the 2nd quarter. Thomasville National Bank now owns 45,013 shares of the company’s stock valued at $3,273,000 after purchasing an additional 1,118 shares during the last quarter. Park National Corp OH grew its stake in AbbVie by 1.8% during the 2nd quarter. Park National Corp OH now owns 305,685 shares of the company’s stock valued at $22,229,000 after purchasing an additional 5,472 shares during the last quarter. Finally, Pensionfund DSM Netherlands purchased a new stake in AbbVie during the 2nd quarter valued at about $4,080,000. Institutional investors and hedge funds own 68.22% of the company’s stock.

Several analysts have weighed in on the company. ValuEngine upgraded AbbVie from a “strong sell” rating to a “sell” rating in a research note on Monday, September 30th. Wolfe Research upgraded AbbVie from an “underperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Cowen set a $90.00 price target on AbbVie and gave the company a “buy” rating in a research note on Tuesday, September 24th. Citigroup upgraded AbbVie from a “neutral” rating to a “buy” rating and boosted their price target for the company from $87.00 to $90.00 in a research note on Thursday, September 26th. Finally, Leerink Swann upgraded AbbVie to a “buy” rating in a research note on Tuesday, July 2nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. AbbVie presently has an average rating of “Hold” and a consensus target price of $86.51.

In related news, EVP Timothy J. Richmond sold 15,515 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $75.02, for a total value of $1,163,935.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Laura J. Schumacher purchased 25,000 shares of AbbVie stock in a transaction that occurred on Monday, September 16th. The stock was acquired at an average cost of $70.42 per share, with a total value of $1,760,500.00. Following the acquisition, the insider now directly owns 164,838 shares in the company, valued at approximately $11,607,891.96. The disclosure for this purchase can be found here. Insiders purchased a total of 183,077 shares of company stock valued at $10,705,751 in the last ninety days. 0.08% of the stock is currently owned by insiders.

Shares of ABBV stock opened at $76.80 on Friday. The stock has a market cap of $114.95 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 1.58 and a beta of 0.99. The business has a 50-day simple moving average of $72.96 and a 200-day simple moving average of $73.53. AbbVie Inc has a 52-week low of $62.66 and a 52-week high of $94.98.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.21 by $0.05. The business had revenue of $8.26 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.00 EPS. As a group, research analysts expect that AbbVie Inc will post 8.93 EPS for the current year.

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

About AbbVie

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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