Pictet North America Advisors SA Sells 361 Shares of AbbVie Inc. (ABBV)

Pictet North America Advisors SA trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 8.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,766 shares of the company’s stock after selling 361 shares during the quarter. Pictet North America Advisors SA’s holdings in AbbVie were worth $273,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Acropolis Investment Management LLC bought a new position in AbbVie in the 2nd quarter valued at about $106,000. Hudock Capital Group LLC increased its holdings in AbbVie by 109.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after buying an additional 806 shares during the period. BDO Wealth Advisors LLC bought a new position in AbbVie in the 2nd quarter valued at about $115,000. Franklin Parlapiano Turner & Welch LLC bought a new position in AbbVie in the 1st quarter valued at about $108,000. Finally, Tradewinds Capital Management LLC increased its holdings in AbbVie by 87.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock valued at $148,000 after buying an additional 1,057 shares during the period. 69.32% of the stock is currently owned by institutional investors and hedge funds.

Shares of AbbVie Inc. (NYSE:ABBV) opened at $96.32 on Friday. The stock has a market cap of $153,768.14, a P/E ratio of 18.14, a P/E/G ratio of 1.36 and a beta of 1.52. 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 $58.80 and a 1-year high of $98.52.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results 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 company had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.21 EPS. research analysts anticipate that AbbVie Inc. will post 5.55 earnings per share for the current fiscal 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 issued a dividend of $0.71 per share. The ex-dividend date is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a dividend yield of 2.95%. AbbVie’s payout ratio is 62.29%.

In related news, SVP Azita Saleki-Gerhardt sold 8,300 shares of AbbVie stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $85.02, for a total transaction of $705,666.00. Following the sale, the senior vice president now directly owns 93,099 shares in the company, valued at approximately $7,915,276.98. The transaction was disclosed in a filing with the SEC, which can be accessed 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 transaction of $1,657,065.00. Following 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. Insiders have sold a total of 277,125 shares of company stock worth $25,891,756 over the last ninety days. 0.23% of the stock is currently owned by insiders.

ABBV has been the topic of several recent analyst reports. Jefferies Group raised their target price on shares of AbbVie from $107.00 to $115.00 and gave the company a “buy” rating in a report on Monday, October 16th. BMO Capital Markets set a $66.00 target price on shares of AbbVie and gave the company a “hold” rating in a report on Friday, October 27th. BidaskClub raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Piper Jaffray Companies raised their target price on shares of AbbVie to $115.00 and gave the company an “overweight” rating in a report on Friday, October 27th. Finally, Zacks Investment Research lowered shares of AbbVie from a “buy” rating to a “hold” rating in a report on Friday, October 20th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $96.72.

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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.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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