Taylor Frigon Capital Management LLC Sells 216 Shares of AbbVie Inc (NYSE:ABBV)
Taylor Frigon Capital Management LLC reduced its stake in shares of AbbVie Inc (NYSE:ABBV) by 1.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,749 shares of the company’s stock after selling 216 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in AbbVie were worth $1,040,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ABBV. Mackenzie Financial Corp increased its stake in AbbVie by 1,023.5% in the second quarter. Mackenzie Financial Corp now owns 1,441,377 shares of the company’s stock valued at $104,817,000 after purchasing an additional 1,313,089 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of AbbVie by 342.6% in the second quarter. Victory Capital Management Inc. now owns 592,726 shares of the company’s stock worth $43,103,000 after buying an additional 458,809 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of AbbVie by 81.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 5,176,070 shares of the company’s stock worth $376,404,000 after buying an additional 2,326,510 shares during the period. Covington Capital Management boosted its position in shares of AbbVie by 1.8% in the second quarter. Covington Capital Management now owns 26,728 shares of the company’s stock worth $1,944,000 after buying an additional 485 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of AbbVie by 12.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 261,553 shares of the company’s stock worth $19,020,000 after buying an additional 28,699 shares during the period. Institutional investors own 70.46% of the company’s stock.
ABBV has been the subject of several analyst reports. Citigroup upped their target price on AbbVie from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $86.00 target price on shares of AbbVie in a research report on Thursday. Bank of America downgraded AbbVie from a “buy” rating to a “neutral” rating in a research report on Friday, January 3rd. ValuEngine raised AbbVie from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Finally, Cowen upped their target price on AbbVie from $90.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, December 26th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $86.33.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, November 1st. The company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.04. The firm had revenue of $8.48 billion during the quarter, compared to the consensus estimate of $8.37 billion. AbbVie had a negative return on equity of 155.96% and a net margin of 9.90%. AbbVie’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.14 earnings per share. Research analysts anticipate that AbbVie Inc will post 8.95 earnings per share for the current year.
The firm also recently declared a — dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.18 dividend. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a yield of 5.93%. This is an increase from AbbVie’s previous — dividend of $1.07. AbbVie’s dividend payout ratio is currently 59.67%.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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