Whittier Trust Co. Boosts Position in AbbVie Inc (ABBV)

Whittier Trust Co. lifted its position in shares of AbbVie Inc (NYSE:ABBV) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 238,745 shares of the company’s stock after acquiring an additional 1,062 shares during the period. Whittier Trust Co.’s holdings in AbbVie were worth $21,215,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. AT Bancorp increased its position in AbbVie by 1.1% in the first quarter. AT Bancorp now owns 26,292 shares of the company’s stock worth $1,713,000 after buying an additional 295 shares during the period. Strategic Advisors LLC increased its position in AbbVie by 0.9% in the first quarter. Strategic Advisors LLC now owns 47,095 shares of the company’s stock worth $3,069,000 after buying an additional 436 shares during the period. Point View Wealth Management Inc. increased its position in AbbVie by 9.6% in the first quarter. Point View Wealth Management Inc. now owns 4,883 shares of the company’s stock worth $318,000 after buying an additional 428 shares during the period. Horan Capital Advisors LLC. increased its position in AbbVie by 1.0% in the first quarter. Horan Capital Advisors LLC. now owns 39,792 shares of the company’s stock worth $2,593,000 after buying an additional 410 shares during the period. Finally, Suntrust Banks Inc. increased its position in AbbVie by 3.7% in the first quarter. Suntrust Banks Inc. now owns 1,216,484 shares of the company’s stock worth $79,265,000 after buying an additional 43,617 shares during the period. 69.18% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP Timothy J. Richmond sold 87,040 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 113,118 shares of the company’s stock, valued at $11,136,467.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Henry O. Gosebruch sold 18,300 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $90.55, for a total value of $1,657,065.00. Following the transaction, the insider now directly owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The disclosure for this sale can be found here. In the last three months, insiders sold 501,375 shares of company stock valued at $47,827,450. Company insiders own 0.23% of the company’s stock.

Several equities research analysts have weighed in on the company. UBS Group reaffirmed a “neutral” rating on shares of AbbVie in a research report on Friday, October 13th. Jefferies Group increased their target price on AbbVie from $107.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, October 16th. Cowen reaffirmed a “hold” rating and issued a $95.00 target price (up from $70.00) on shares of AbbVie in a research report on Monday, September 11th. BMO Capital Markets reaffirmed a “hold” rating and issued a $84.00 target price on shares of AbbVie in a research report on Tuesday, November 21st. Finally, Piper Jaffray Companies increased their target price on AbbVie to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 27th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. AbbVie presently has a consensus rating of “Buy” and a consensus price target of $100.26.

AbbVie Inc (NYSE ABBV) opened at $98.21 on Monday. AbbVie Inc has a 52 week low of $59.27 and a 52 week high of $99.10. The stock has a market capitalization of $156,306.45, a price-to-earnings ratio of 23.90, a PEG ratio of 1.36 and a beta of 1.52. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the prior year, the business posted $1.21 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. research analysts expect that AbbVie Inc will post 5.55 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be paid a $0.71 dividend. This is a boost from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, January 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.89%. AbbVie’s dividend payout ratio is presently 62.29%.

TRADEMARK VIOLATION NOTICE: This report was first posted by Community Financial News and is owned by of Community Financial News. If you are reading this report on another site, it was stolen and republished in violation of US & international trademark & copyright law. The original version of this report can be accessed at https://www.com-unik.info/2017/12/25/whittier-trust-co-boosts-position-in-abbvie-inc-abbv.html.

AbbVie Profile

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)

What are top analysts saying about AbbVie? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for AbbVie and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit