AbbVie Inc (ABBV) Holdings Increased by Jaffetilchin Investment Partners LLC
Jaffetilchin Investment Partners LLC raised its holdings in AbbVie Inc (NYSE:ABBV) by 15.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 13,286 shares of the company’s stock after acquiring an additional 1,751 shares during the quarter. Jaffetilchin Investment Partners LLC owned 8.33% of AbbVie worth $1,181,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Bristlecone Advisors LLC bought a new position in shares of AbbVie during the 3rd quarter valued at about $113,000. Acropolis Investment Management LLC bought a new position in shares of AbbVie during the 2nd quarter valued at about $106,000. Ffcm LLC increased its position in shares of AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after purchasing an additional 963 shares during the last quarter. Hudock Capital Group LLC increased its position in shares of AbbVie by 109.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after purchasing an additional 806 shares during the last quarter. Finally, Hershey Trust Co. bought a new position in shares of AbbVie during the 3rd quarter valued at about $139,000. 69.19% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on ABBV shares. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research report on Tuesday, October 17th. BidaskClub lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 25th. Deutsche Bank increased their price objective on AbbVie to $88.00 and gave the company a “hold” rating in a research report on Thursday, September 28th. Vetr upgraded AbbVie from a “buy” rating to a “strong-buy” rating and set a $113.08 price objective on the stock in a research report on Wednesday, December 20th. Finally, Cowen upgraded AbbVie from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $91.17 to $105.00 in a research report on Wednesday, October 11th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $100.94.
In other news, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the sale, the chairman now directly owns 492,030 shares in the company, valued at approximately $46,255,740.30. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Henry O. Gosebruch sold 18,300 shares of AbbVie stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $90.55, for a total value of $1,657,065.00. Following the completion of the sale, the insider now owns 81,287 shares in the company, valued at $7,360,537.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 494,676 shares of company stock worth $47,237,938. Corporate insiders own 0.23% of the company’s stock.
AbbVie Inc (NYSE ABBV) opened at $100.34 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08. AbbVie Inc has a 1 year low of $59.27 and a 1 year high of $101.28. The stock has a market capitalization of $160,185.78, a P/E ratio of 24.41, a P/E/G ratio of 1.20 and a beta of 1.52.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. During the same period last year, the company earned $1.21 EPS. AbbVie’s revenue for the quarter was up 8.8% compared to the same quarter last year. analysts predict that AbbVie Inc will post 5.54 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.83%. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio (DPR) is presently 69.10%.
AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc (NYSE:ABBV).
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with Analyst Ratings Network's FREE daily email newsletter.