Fayerweather Charles Takes Position in AbbVie Inc (NYSE:ABBV)

Fayerweather Charles bought a new stake in AbbVie Inc (NYSE:ABBV) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,400 shares of the company’s stock, valued at approximately $213,000.

Other hedge funds also recently bought and sold shares of the company. Hoey Investments Inc. purchased a new position in AbbVie in the fourth quarter valued at about $31,000. Kempen Capital Management N.V. purchased a new position in AbbVie in the second quarter valued at about $41,000. Edge Wealth Management LLC boosted its holdings in AbbVie by 106.1% in 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 last quarter. Massey Quick Simon & CO. LLC boosted its holdings in AbbVie by 2,400.0% in the third quarter. Massey Quick Simon & CO. LLC now owns 625 shares of the company’s stock valued at $47,000 after purchasing an additional 600 shares during the last quarter. Finally, Selective Wealth Management Inc. purchased a new position in AbbVie in the third quarter valued at about $48,000. Institutional investors and hedge funds own 70.42% of the company’s stock.

ABBV has been the subject of a number of analyst reports. Cowen increased their price target on AbbVie from $90.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, December 26th. Royal Bank of Canada initiated coverage on AbbVie in a report on Monday, January 6th. They issued a “sector perform” rating and a $86.00 price target for the company. ValuEngine raised AbbVie from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. UBS Group increased their price target on AbbVie from $79.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Citigroup increased their target price on AbbVie from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. AbbVie presently has a consensus rating of “Hold” and a consensus price target of $86.33.

NYSE:ABBV opened at $89.26 on Thursday. The business’s 50 day moving average is $88.51 and its two-hundred day moving average is $76.87. AbbVie Inc has a 52 week low of $62.66 and a 52 week high of $91.99. The company has a market cap of $130.43 billion, a PE ratio of 11.28, a P/E/G ratio of 2.08 and a beta of 0.97.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, November 1st. The company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.04. AbbVie had a negative return on equity of 155.96% and a net margin of 9.90%. The company had revenue of $8.48 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter last year, the business posted $2.14 EPS. 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 fiscal year.

The company also recently announced a — dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.18 per share. This represents a yield of 5.93%. The ex-dividend date is Tuesday, January 14th. This is an increase from AbbVie’s previous — dividend of $1.07. AbbVie’s dividend payout ratio (DPR) 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.

Further Reading: The limitations of an equal weight rating

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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