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.
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%.
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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