AbbVie Inc (NYSE:ABBV) Shares Acquired by NEXT Financial Group Inc

NEXT Financial Group Inc grew its stake in shares of AbbVie Inc (NYSE:ABBV) by 5.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,694 shares of the company’s stock after purchasing an additional 868 shares during the period. NEXT Financial Group Inc’s holdings in AbbVie were worth $1,390,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Hoey Investments Inc. acquired a new stake in shares of AbbVie during the 4th quarter worth $31,000. Edge Wealth Management LLC increased its holdings in shares of AbbVie by 106.1% during the third quarter. Edge Wealth Management LLC now owns 573 shares of the company’s stock valued at $43,000 after purchasing an additional 295 shares during the period. Massey Quick Simon & CO. LLC raised its holdings in AbbVie by 2,400.0% during the third quarter. Massey Quick Simon & CO. LLC now owns 625 shares of the company’s stock worth $47,000 after purchasing an additional 600 shares in the last quarter. Selective Wealth Management Inc. bought a new stake in AbbVie in the third quarter worth about $48,000. Finally, Garrett Wealth Advisory Group LLC purchased a new stake in shares of AbbVie during the third quarter valued at $50,000. 70.46% of the stock is currently owned by hedge funds and other institutional investors.

ABBV has been the subject of a number of analyst reports. Bank of America cut AbbVie from a “buy” rating to a “neutral” rating in a research report on Friday, January 3rd. ValuEngine upgraded shares of AbbVie from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. UBS Group increased their price target on shares of AbbVie from $79.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada began coverage on shares of AbbVie in a research report on Monday, January 6th. They issued a “sector perform” rating and a $86.00 price target on the stock. Finally, Piper Jaffray Companies boosted their price objective on shares of AbbVie from $81.00 to $90.00 in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. AbbVie currently has an average rating of “Hold” and an average target price of $86.33.

ABBV opened at $87.99 on Wednesday. The stock’s 50 day simple moving average is $88.55 and its 200-day simple moving average is $77.32. The stock has a market cap of $130.14 billion, a PE ratio of 40.55, a P/E/G ratio of 2.08 and a beta of 0.97. AbbVie Inc has a 1 year low of $62.66 and a 1 year high of $91.99.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, November 1st. The company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.29 by $0.04. AbbVie had a negative return on equity of 155.96% and a net margin of 9.90%. The firm had revenue of $8.48 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same period last year, the business earned $2.14 earnings per share. AbbVie’s quarterly revenue was up 3.0% compared to the same quarter last year. Analysts anticipate that AbbVie Inc will post 8.95 earnings per share for the current year.

The firm also recently disclosed a — dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.18 dividend. This is a boost from AbbVie’s previous — dividend of $1.07. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a dividend yield of 5.93%. AbbVie’s dividend payout ratio is currently 59.67%.

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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