Allied Investment Advisors LLC Invests $236,000 in AbbVie Inc. (ABBV)

Allied Investment Advisors LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 2,443 shares of the company’s stock, valued at approximately $236,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Ffcm LLC boosted its holdings in shares of AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after acquiring an additional 963 shares in the last quarter. Bristlecone Advisors LLC acquired a new stake in shares of AbbVie during the 3rd quarter valued at $113,000. Hershey Trust Co. acquired a new stake in shares of AbbVie during the 3rd quarter valued at $139,000. Harvest Fund Management Co. Ltd boosted its holdings in shares of AbbVie by 1,172.6% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,227 shares of the company’s stock valued at $161,000 after acquiring an additional 2,052 shares in the last quarter. Finally, Atlantic Trust LLC boosted its holdings in shares of AbbVie by 208.4% during the 2nd quarter. Atlantic Trust LLC now owns 2,467 shares of the company’s stock valued at $179,000 after acquiring an additional 1,667 shares in the last quarter. 70.54% of the stock is currently owned by institutional investors.

In related news, VP Robert A. Michael sold 4,294 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $119.43, for a total value of $512,832.42. Following the completion of the sale, the vice president now directly owns 11,170 shares of the company’s stock, valued at approximately $1,334,033.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert A. Michael sold 992 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were 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. Over the last three months, insiders sold 211,197 shares of company stock valued at $24,585,575. Corporate insiders own 0.07% of the company’s stock.

ABBV has been the topic of several recent research reports. BMO Capital Markets cut their target price on AbbVie from $95.00 to $80.00 and set an “underperform” rating on the stock in a report on Friday, March 23rd. Jefferies Group set a $125.00 target price on AbbVie and gave the stock a “buy” rating in a report on Friday, March 23rd. Credit Suisse Group cut their target price on AbbVie from $109.00 to $98.10 and set a “neutral” rating on the stock in a report on Friday, March 23rd. Bank of America set a $120.00 target price on AbbVie and gave the stock a “hold” rating in a report on Monday, March 26th. Finally, Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $116.68.

ABBV stock opened at $94.65 on Friday. AbbVie Inc. has a 1-year low of $63.12 and a 1-year high of $125.86. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.28 and a quick ratio of 1.18. The stock has a market capitalization of $150,301.66, a PE ratio of 16.90, a price-to-earnings-growth ratio of 0.88 and a beta of 1.52.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $7.74 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same period last year, the company posted $1.20 EPS. The business’s quarterly revenue was up 13.9% on a year-over-year basis. analysts expect that AbbVie Inc. will post 7.51 earnings per share for the current year.

AbbVie announced that its Board of Directors has approved a share repurchase plan on Thursday, February 15th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be given a $0.96 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This is a positive change from AbbVie’s previous quarterly dividend of $0.71. This represents a $3.84 annualized dividend and a dividend yield of 4.06%. AbbVie’s dividend payout ratio (DPR) is 50.71%.

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About AbbVie

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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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