Cowa LLC Trims Stake in AbbVie Inc. (NYSE:ABBV)

Cowa LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 6.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,057 shares of the company’s stock after selling 403 shares during the quarter. Cowa LLC’s holdings in AbbVie were worth $813,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ABBV. Covenant Asset Management LLC boosted its stake in AbbVie by 1.0% during the second quarter. Covenant Asset Management LLC now owns 24,672 shares of the company’s stock worth $3,779,000 after acquiring an additional 239 shares in the last quarter. Beacon Financial Advisory LLC boosted its stake in AbbVie by 3.5% during the second quarter. Beacon Financial Advisory LLC now owns 10,399 shares of the company’s stock worth $1,593,000 after acquiring an additional 353 shares in the last quarter. Howard Financial Services LTD. boosted its stake in AbbVie by 25.7% during the second quarter. Howard Financial Services LTD. now owns 1,813 shares of the company’s stock worth $278,000 after acquiring an additional 371 shares in the last quarter. Corundum Group Inc. boosted its stake in AbbVie by 1.9% during the second quarter. Corundum Group Inc. now owns 5,486 shares of the company’s stock worth $840,000 after acquiring an additional 100 shares in the last quarter. Finally, Dividend Assets Capital LLC boosted its stake in AbbVie by 7.1% during the third quarter. Dividend Assets Capital LLC now owns 2,166 shares of the company’s stock worth $291,000 after acquiring an additional 143 shares in the last quarter. Institutional investors own 67.71% of the company’s stock.

AbbVie Stock Down 0.6 %

ABBV opened at $147.69 on Wednesday. AbbVie Inc. has a twelve month low of $130.79 and a twelve month high of $175.91. The stock has a market capitalization of $261.19 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 3.18 and a beta of 0.69. The company has a quick ratio of 0.83, a current ratio of 0.93 and a debt-to-equity ratio of 3.77. The firm has a 50 day moving average price of $159.47 and a 200-day moving average price of $149.22.

AbbVie (NYSE:ABBVGet Rating) last announced its earnings results on Friday, October 28th. The company reported $3.66 EPS for the quarter, beating analysts’ consensus estimates of $3.56 by $0.10. AbbVie had a net margin of 23.19% and a return on equity of 155.88%. The business had revenue of $14.81 billion during the quarter, compared to analysts’ expectations of $14.95 billion. During the same period in the prior year, the company earned $3.33 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. Equities research analysts forecast that AbbVie Inc. will post 13.89 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Friday, January 13th will be issued a dividend of $1.48 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.41. This represents a $5.92 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Thursday, January 12th. AbbVie’s dividend payout ratio is currently 79.04%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. StockNews.com started coverage on shares of AbbVie in a research note on Wednesday, October 12th. They set a “strong-buy” rating on the stock. Credit Suisse Group started coverage on shares of AbbVie in a research note on Thursday, November 17th. They issued an “outperform” rating and a $170.00 target price on the stock. BMO Capital Markets dropped their target price on shares of AbbVie from $170.00 to $169.00 and set an “outperform” rating on the stock in a research note on Monday, October 31st. SVB Leerink dropped their target price on shares of AbbVie from $140.00 to $135.00 and set an “underperform” rating on the stock in a research note on Friday, September 30th. Finally, Barclays dropped their target price on shares of AbbVie from $160.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Monday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $160.56.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 42,370 shares of the company’s stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $163.44, for a total transaction of $6,924,952.80. Following the completion of the sale, the executive vice president now directly owns 13,837 shares of the company’s stock, valued at $2,261,519.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.08% of the stock is owned by corporate insiders.

About AbbVie

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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