BB&T Securities LLC Has $70.88 Million Position in AbbVie Inc (ABBV)
BB&T Securities LLC lifted its stake in shares of AbbVie Inc (NYSE:ABBV) by 11.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 768,870 shares of the company’s stock after buying an additional 76,644 shares during the quarter. AbbVie accounts for approximately 0.8% of BB&T Securities LLC’s holdings, making the stock its 17th largest holding. BB&T Securities LLC owned about 0.05% of AbbVie worth $70,881,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Horrell Capital Management Inc. acquired a new stake in AbbVie during the 4th quarter valued at approximately $41,000. Signet Investment Advisory Group Inc. acquired a new stake in AbbVie during the 4th quarter valued at approximately $62,000. Massey Quick Simon & CO. LLC acquired a new stake in AbbVie during the 4th quarter valued at approximately $64,000. Ruggie Capital Group grew its stake in AbbVie by 55.3% during the 4th quarter. Ruggie Capital Group now owns 823 shares of the company’s stock valued at $76,000 after purchasing an additional 293 shares in the last quarter. Finally, Brand Asset Management Group Inc. grew its stake in AbbVie by 60.7% during the 4th quarter. Brand Asset Management Group Inc. now owns 1,059 shares of the company’s stock valued at $98,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 70.64% of the company’s stock.
NYSE:ABBV opened at $79.96 on Friday. AbbVie Inc has a 12-month low of $75.77 and a 12-month high of $107.25. The company has a market cap of $117.84 billion, a P/E ratio of 10.11, a P/E/G ratio of 1.22 and a beta of 1.17.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.07 per share. The ex-dividend date is Friday, April 12th. This represents a $4.28 dividend on an annualized basis and a yield of 5.35%. AbbVie’s dividend payout ratio is currently 54.11%.
AbbVie announced that its Board of Directors has authorized a stock repurchase plan on Thursday, December 13th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 3.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Several research analysts have recently commented on ABBV shares. Morgan Stanley set a $88.00 target price on AbbVie and gave the stock a “hold” rating in a research report on Thursday, December 20th. Standpoint Research started coverage on AbbVie in a research report on Wednesday, December 26th. They issued a “buy” rating for the company. Bank of America lowered AbbVie from a “buy” rating to a “neutral” rating in a research report on Thursday, January 3rd. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Tuesday, January 8th. Finally, Credit Suisse Group upgraded AbbVie to a “hold” rating and set a $79.00 target price for the company in a research report on Thursday, January 17th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $94.48.
In related news, Vice Chairman Laura J. Schumacher sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $80.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the insider now owns 139,838 shares in the company, valued at approximately $11,187,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian L. Durkin sold 475 shares of AbbVie stock in a transaction on Monday, March 25th. The shares were sold at an average price of $79.69, for a total value of $37,852.75. Following the sale, the vice president now directly owns 9,121 shares in the company, valued at approximately $726,852.49. The disclosure for this sale can be found here. Insiders have sold a total of 41,272 shares of company stock valued at $3,286,290 in the last 90 days. Insiders own 0.07% of the company’s stock.
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AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C.
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