Janney Montgomery Scott LLC grew its position in shares of AbbVie Inc (NYSE:ABBV) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC).The fund owned 588,756 shares of the company’s stock after buying an additional 23,796 shares during the period.Janney Montgomery Scott LLC’s holdings in AbbVie were worth $52,128,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of ABBV.Smith Asset Management Group LP lifted its position in shares of AbbVie by 263,372.1% during the 2nd quarter.
Smith Asset Management Group LP now owns 113,293 shares of the company’s stock valued at $8,239,000 after buying an additional 113,250 shares during the last quarter.Mackenzie Financial Corp lifted its holdings in AbbVie by 1,023.5% during the 2nd quarter.Mackenzie Financial Corp now owns 1,441,377 shares of the company’s stock worth $104,817,000 after purchasing an additional 1,313,089 shares in the last quarter.
Marshall Wace LLP lifted its holdings in AbbVie by 252.6% during the 2nd quarter.Marshall Wace LLP now owns 103,972 shares of the company’s stock worth $7,561,000 after purchasing an additional 74,484 shares in the last quarter.Westwood Holdings Group Inc.lifted its holdings in AbbVie by 29.8% during the 2nd quarter.Westwood Holdings Group Inc.
now owns 9,593 shares of the company’s stock worth $698,000 after purchasing an additional 2,200 shares in the last quarter.Finally, CSat Investment Advisory L.P.
lifted its holdings in AbbVie by 8,976.7% during the 2nd quarter.CSat Investment Advisory L.P.
now owns 2,723 shares of the company’s stock worth $198,000 after purchasing an additional 2,693 shares in the last quarter.70.46% of the stock is currently owned by hedge funds and other institutional investors.Get AbbVie alerts:
A number of analysts recently issued reports on ABBV shares.ValuEngine raised AbbVie from a “sell” rating to a “hold” rating in a report on Friday, January 3rd.
Bank of America cut AbbVie from a “buy” rating to a “neutral” rating in a report on Friday, January 3rd.Royal Bank of Canada started coverage on AbbVie in a report on Monday, January 6th.They set a “sector perform” rating and a $86.00 price objective on the stock.Citigroup increased their price objective on AbbVie from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th.
Finally, UBS Group increased their price objective on AbbVie from $79.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th.Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company.AbbVie presently has an average rating of “Hold” and an average price target of $86.33.
ABBV traded down $0.09 during trading on Tuesday, reaching $87.91.5,941,483 shares of the company were exchanged, compared to its average volume of 6,021,714.
The company’s 50-day moving average is $88.53 and its two-hundred day moving average is $77.25.The company has a market cap of $130.14 billion, a price-to-earnings ratio of 40.51, a P/E/G ratio of 2.08 and a beta of 0.97.AbbVie Inc has a 12-month low of $62.66 and a 12-month high of $91.99.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, November 1st.The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.04.
The business had revenue of $8.48 billion for the quarter, compared to analyst estimates of $8.37 billion.AbbVie had a negative return on equity of 155.96% and a net margin of 9.90%.The company’s quarterly revenue was up 3.0% compared to the same quarter last year.
During the same period in the prior year, the company earned $2.14 EPS.Equities analysts predict that AbbVie Inc will post 8.95 earnings per share for the current year.
The firm also recently announced a — dividend, which will be paid on Friday, February 14th.Shareholders of record on Wednesday, January 15th will be paid a $1.18 dividend.This is a positive change from AbbVie’s previous — dividend of $1.07.This represents a yield of 5.93%.The ex-dividend date is Tuesday, January 14th.AbbVie’s dividend payout ratio is currently 59.67%.
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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