Hanson & Doremus Investment Management grew its position in AbbVie Inc (NYSE:ABBV) by 14.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,036 shares of the company’s stock after acquiring an additional 1,000 shares during the period. Hanson & Doremus Investment Management’s holdings in AbbVie were worth $712,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of ABBV. Hoey Investments Inc. purchased a new position in AbbVie in the 4th quarter valued at $31,000. Kempen Capital Management N.V. acquired a new stake in shares of AbbVie in the 2nd quarter worth $41,000. Edge Wealth Management LLC increased its stake in shares of AbbVie by 106.1% in the 3rd quarter. Edge Wealth Management LLC now owns 573 shares of the company’s stock worth $43,000 after acquiring an additional 295 shares during the last quarter. Massey Quick Simon & CO. LLC increased its stake in shares of AbbVie by 2,400.0% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 625 shares of the company’s stock worth $47,000 after acquiring an additional 600 shares during the last quarter. Finally, Selective Wealth Management Inc. acquired a new stake in AbbVie during the third quarter worth about $48,000. Institutional investors and hedge funds own 70.42% of the company’s stock.
A number of equities analysts have commented on the stock. Royal Bank of Canada started coverage on shares of AbbVie in a research note on Monday, January 6th. They set a “sector perform” rating and a $86.00 target price on the stock. ValuEngine upgraded shares of AbbVie from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Piper Jaffray Companies lifted their price target on shares of AbbVie from $81.00 to $90.00 in a research report on Friday, November 1st. UBS Group lifted their price target on shares of AbbVie from $79.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, Citigroup lifted their price target on shares of AbbVie from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $86.33.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, November 1st. The company reported $2.33 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 net margin of 9.90% and a negative return on equity of 155.96%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the business earned $2.14 EPS. On average, equities research analysts expect that AbbVie Inc will post 8.95 EPS 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 given a dividend of $1.18 per share. This is a boost from AbbVie’s previous — dividend of $1.07. This represents a dividend yield of 5.93%. The ex-dividend date is Tuesday, January 14th. AbbVie’s dividend payout ratio is currently 59.67%.
AbbVie Company 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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