Fruth Investment Management Has $3.18 Million Position in AbbVie Inc. (NYSE:ABBV)

Fruth Investment Management lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,712 shares of the company’s stock after selling 575 shares during the quarter. AbbVie comprises approximately 1.1% of Fruth Investment Management’s investment portfolio, making the stock its 29th largest holding. Fruth Investment Management’s holdings in AbbVie were worth $3,183,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABBV. Global Retirement Partners LLC grew its holdings in AbbVie by 23.5% during the 4th quarter. Global Retirement Partners LLC now owns 18,522 shares of the company’s stock valued at $1,985,000 after buying an additional 3,529 shares in the last quarter. Radnor Capital Management LLC lifted its position in AbbVie by 5.1% in the 4th quarter. Radnor Capital Management LLC now owns 11,004 shares of the company’s stock worth $1,179,000 after buying an additional 535 shares during the last quarter. Sowell Financial Services LLC lifted its position in AbbVie by 2.5% in the 4th quarter. Sowell Financial Services LLC now owns 88,758 shares of the company’s stock worth $9,510,000 after buying an additional 2,207 shares during the last quarter. DAVENPORT & Co LLC lifted its position in AbbVie by 1.6% in the 4th quarter. DAVENPORT & Co LLC now owns 103,579 shares of the company’s stock worth $11,099,000 after buying an additional 1,651 shares during the last quarter. Finally, KMG Fiduciary Partners LLC lifted its position in AbbVie by 18.2% in the fourth quarter. KMG Fiduciary Partners LLC now owns 21,078 shares of the company’s stock valued at $2,245,000 after purchasing an additional 3,249 shares during the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

AbbVie stock traded up $2.76 during trading hours on Wednesday, hitting $112.54. The stock had a trading volume of 743,320 shares, compared to its average volume of 7,615,842. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.95 and a quick ratio of 0.81. The stock has a market capitalization of $198.69 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 1.49 and a beta of 0.84. AbbVie Inc. has a 1-year low of $62.55 and a 1-year high of $110.78. The stock’s fifty day moving average is $105.49 and its two-hundred day moving average is $95.97.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, October 30th. The company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $0.08. The business had revenue of $12.88 billion for the quarter, compared to analyst estimates of $12.71 billion. AbbVie had a return on equity of 439.24% and a net margin of 18.16%. The business’s revenue for the quarter was up 51.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.33 earnings per share. As a group, sell-side analysts anticipate that AbbVie Inc. will post 10.48 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 16th. Investors of record on Friday, January 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date of this dividend is Thursday, January 14th. This is an increase from AbbVie’s previous quarterly dividend of $1.18. AbbVie’s payout ratio is 52.80%.

A number of brokerages recently commented on ABBV. Berenberg Bank started coverage on AbbVie in a report on Tuesday, September 29th. They set a “hold” rating and a $98.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on AbbVie from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, October 16th. The Goldman Sachs Group cut AbbVie from a “neutral” rating to a “sell” rating in a report on Tuesday, October 20th. ValuEngine upgraded AbbVie from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 1st. Finally, BidaskClub raised shares of AbbVie from a “strong sell” rating to a “sell” rating in a research note on Friday, January 1st. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $112.50.

In other AbbVie news, EVP Timothy J. Richmond sold 51,990 shares of the business’s stock in a transaction dated Friday, November 27th. The stock was sold at an average price of $105.00, for a total transaction of $5,458,950.00. Following the completion of the transaction, the executive vice president now owns 51,990 shares of the company’s stock, valued at $5,458,950. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 25,290 shares of the business’s stock in a transaction dated Tuesday, December 29th. The stock was sold at an average price of $105.00, for a total value of $2,655,450.00. Following the transaction, the executive vice president now directly owns 76,259 shares of the company’s stock, valued at approximately $8,007,195. The disclosure for this sale can be found here. In the last ninety days, insiders sold 308,884 shares of company stock valued at $30,552,196. 0.09% of the stock is owned by insiders.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, 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; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; 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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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