FTB Advisors Inc. raised its stake in AbbVie Inc. (NYSE:ABBV) by 50.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,254 shares of the company’s stock after purchasing an additional 3,441 shares during the period. FTB Advisors Inc.’s holdings in AbbVie were worth $993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ABBV. Formidable Asset Management LLC raised its position in shares of AbbVie by 0.3% during the 2nd quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock worth $285,000 after acquiring an additional 10 shares in the last quarter. TRUE Private Wealth Advisors raised its position in shares of AbbVie by 0.6% during the 2nd quarter. TRUE Private Wealth Advisors now owns 4,814 shares of the company’s stock worth $349,000 after acquiring an additional 27 shares in the last quarter. Aspen Investment Management Inc raised its position in shares of AbbVie by 0.8% during the 2nd quarter. Aspen Investment Management Inc now owns 5,210 shares of the company’s stock worth $378,000 after acquiring an additional 40 shares in the last quarter. Beaumont Financial Partners LLC raised its position in shares of AbbVie by 1.0% during the 2nd quarter. Beaumont Financial Partners LLC now owns 5,616 shares of the company’s stock worth $407,000 after acquiring an additional 56 shares in the last quarter. Finally, Schulhoff & Co. Inc. raised its position in shares of AbbVie by 0.3% during the 2nd quarter. Schulhoff & Co. Inc. now owns 23,912 shares of the company’s stock worth $1,733,000 after acquiring an additional 60 shares in the last quarter. 70.51% of the stock is currently owned by institutional investors.

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In other AbbVie news, VP Robert A. Michael sold 992 shares of AbbVie stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $120.31, for a total value of $119,347.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Carlos Alban sold 83,574 shares of AbbVie stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $114.49, for a total value of $9,568,387.26. Following the completion of the transaction, the executive vice president now owns 133,026 shares in the company, valued at $15,230,146.74. The disclosure for this sale can be found here. Insiders sold a total of 211,197 shares of company stock worth $24,585,575 over the last quarter. Company insiders own 0.23% of the company’s stock.

Several equities research analysts have recently weighed in on the company. Piper Jaffray Companies raised their target price on AbbVie from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. SunTrust Banks raised their target price on AbbVie to $157.00 and gave the stock an “average” rating in a research report on Monday, January 29th. Leerink Swann lowered AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 target price on the stock. in a research report on Monday, January 29th. BMO Capital Markets lowered AbbVie from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $125.86 to $84.00 in a research report on Monday, January 29th. They noted that the move was a valuation call. Finally, Evercore ISI reissued a “buy” rating and set a $144.00 target price on shares of AbbVie in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. AbbVie currently has an average rating of “Buy” and an average target price of $120.96.

AbbVie stock opened at $113.71 on Monday. The company has a market capitalization of $180,568.41, a P/E ratio of 34.56, a price-to-earnings-growth ratio of 1.07 and a beta of 1.52. AbbVie Inc. has a 12-month low of $63.12 and a 12-month high of $125.86. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.18 and a current ratio of 1.28.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.44 by $0.04. The company had revenue of $7.74 billion for the quarter, compared to analyst estimates of $7.53 billion. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The firm’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 earnings per share. equities analysts expect that AbbVie Inc. will post 7.48 EPS for the current year.

AbbVie declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 15th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be paid a $0.96 dividend. This is an increase from AbbVie’s previous quarterly dividend of $0.71. This represents a $3.84 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Thursday, April 12th. AbbVie’s dividend payout ratio (DPR) is 86.32%.

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AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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