First National Bank Sioux Falls boosted its position in AbbVie Inc (NYSE:ABBV) by 29.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,423 shares of the company’s stock after acquiring an additional 1,018 shares during the quarter. AbbVie accounts for approximately 1.4% of First National Bank Sioux Falls’ portfolio, making the stock its 24th largest holding. First National Bank Sioux Falls’ holdings in AbbVie were worth $393,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Korea Investment CORP boosted its position in AbbVie by 4.5% during the third quarter. Korea Investment CORP now owns 1,076,165 shares of the company’s stock valued at $95,628,000 after buying an additional 46,340 shares during the period. Aperio Group LLC boosted its position in AbbVie by 4.5% during the third quarter. Aperio Group LLC now owns 865,283 shares of the company’s stock valued at $76,889,000 after buying an additional 37,333 shares during the period. New England Research & Management Inc. boosted its position in AbbVie by 102.0% during the third quarter. New England Research & Management Inc. now owns 9,308 shares of the company’s stock valued at $827,000 after buying an additional 4,700 shares during the period. Braun Stacey Associates Inc. boosted its position in AbbVie by 19.4% during the third quarter. Braun Stacey Associates Inc. now owns 41,975 shares of the company’s stock valued at $3,730,000 after buying an additional 6,810 shares during the period. Finally, Community Financial Services Group LLC purchased a new stake in AbbVie during the third quarter valued at about $231,000. 69.18% of the stock is currently owned by institutional investors and hedge funds.
Shares of AbbVie Inc (NYSE ABBV) opened at $96.71 on Friday. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. The firm has a market cap of $156,593.81, a PE ratio of 23.53, a PEG ratio of 1.36 and a beta of 1.52. AbbVie Inc has a 1-year low of $59.27 and a 1-year high of $99.10.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a dividend of $0.71 per share. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Thursday, January 11th. AbbVie’s dividend payout ratio is currently 62.29%.
In other AbbVie news, Chairman Richard A. Gonzalez sold 218,193 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $94.01, for a total value of $20,512,323.93. Following the completion of the sale, the chairman now directly owns 492,030 shares in the company, valued at $46,255,740.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 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. Over the last quarter, insiders have sold 494,676 shares of company stock valued at $47,237,938. 0.23% of the stock is currently owned by company insiders.
Several analysts have issued reports on ABBV shares. BidaskClub upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 6th. Jefferies Group restated a “buy” rating and set a $94.00 price target on shares of AbbVie in a research report on Friday, September 8th. Goldman Sachs Group restated a “buy” rating and set a $100.00 price target (up from $85.00) on shares of AbbVie in a research report on Friday, September 8th. Cowen restated a “hold” rating and set a $95.00 price target (up from $70.00) on shares of AbbVie in a research report on Monday, September 11th. Finally, Leerink Swann restated a “market perform” rating on shares of AbbVie in a research report on Tuesday, September 12th. Seven equities research 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’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $100.26.
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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.
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