Hennessy Advisors Inc. increased its holdings in shares of AbbVie Inc (NYSE:ABBV) by 1.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 117,400 shares of the company’s stock after buying an additional 1,200 shares during the period. Hennessy Advisors Inc.’s holdings in AbbVie were worth $10,432,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bristlecone Advisors LLC acquired a new stake in shares of AbbVie in the third quarter valued at approximately $113,000. Acropolis Investment Management LLC acquired a new stake in shares of AbbVie in the second quarter valued at approximately $106,000. Ffcm LLC increased its stake in shares of AbbVie by 167.2% in the second 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 period. Hudock Capital Group LLC increased its stake in shares of AbbVie by 109.5% in the second 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 period. Finally, Hershey Trust Co. acquired a new stake in shares of AbbVie in the third quarter valued at approximately $139,000. Hedge funds and other institutional investors own 69.19% of the company’s stock.

Several equities research analysts have commented on ABBV shares. Societe Generale raised their price target on shares of AbbVie in a research note on Tuesday, November 21st. Jefferies Group restated a “buy” rating and issued a $107.00 price target on shares of AbbVie in a research note on Thursday, September 28th. Argus raised their price target on shares of AbbVie from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, September 29th. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a research note on Tuesday, October 17th. Finally, BidaskClub cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 25th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $100.94.

In related news, insider Henry O. Gosebruch sold 18,300 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the completion of the sale, the insider now directly owns 81,287 shares in the company, valued at $7,360,537.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Timothy J. Richmond sold 87,040 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the sale, the senior vice president now owns 113,118 shares of the company’s stock, valued at $11,136,467.10. The disclosure for this sale can be found here. Insiders have sold 494,676 shares of company stock valued at $47,237,938 over the last 90 days. 0.23% of the stock is currently owned by insiders.

AbbVie Inc (NYSE ABBV) opened at $104.36 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. The stock has a market cap of $163,618.09, a P/E ratio of 25.39, a PEG ratio of 1.23 and a beta of 1.52. AbbVie Inc has a 1-year low of $59.27 and a 1-year high of $104.84.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. The business had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The business’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm posted $1.21 earnings per share. analysts anticipate that AbbVie Inc will post 5.54 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.72%. This is a boost from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, January 11th. AbbVie’s dividend payout ratio (DPR) is presently 69.10%.

ILLEGAL ACTIVITY NOTICE: “Hennessy Advisors Inc. Grows Position in AbbVie Inc (ABBV)” was first reported by Watch List News and is the property of of Watch List News. If you are reading this piece of content on another domain, it was stolen and reposted in violation of US & international trademark & copyright laws. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/hennessy-advisors-inc-grows-position-in-abbvie-inc-abbv/1811859.html.

About AbbVie

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).

Institutional Ownership by Quarter for AbbVie (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 MarketBeat.com's FREE daily email newsletter.