Blue Chip Partners Inc. grew its position in AbbVie Inc (NYSE:ABBV) by 4.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,699 shares of the company’s stock after purchasing an additional 5,038 shares during the quarter. AbbVie comprises approximately 2.6% of Blue Chip Partners Inc.’s investment portfolio, making the stock its 7th biggest holding. Blue Chip Partners Inc.’s holdings in AbbVie were worth $10,565,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC grew its holdings in shares of AbbVie by 8,774.3% during the second quarter. Cornerstone Wealth Management LLC now owns 1,102,183 shares of the company’s stock valued at $11,837,000 after buying an additional 1,089,763 shares during the last quarter. Riverhead Capital Management LLC grew its holdings in shares of AbbVie by 10.0% during the second quarter. Riverhead Capital Management LLC now owns 117,611 shares of the company’s stock valued at $10,897,000 after buying an additional 10,702 shares during the last quarter. SeaCrest Wealth Management LLC grew its holdings in shares of AbbVie by 43.1% during the second quarter. SeaCrest Wealth Management LLC now owns 34,815 shares of the company’s stock valued at $3,226,000 after buying an additional 10,483 shares during the last quarter. Lynch & Associates IN grew its holdings in shares of AbbVie by 1.8% during the second quarter. Lynch & Associates IN now owns 60,094 shares of the company’s stock valued at $5,568,000 after buying an additional 1,037 shares during the last quarter. Finally, MUFG Securities EMEA plc purchased a new stake in shares of AbbVie during the second quarter valued at $157,000. 69.26% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on the stock. Credit Suisse Group set a $85.00 price objective on shares of AbbVie and gave the company a “hold” rating in a report on Sunday, October 14th. Barclays reissued a “hold” rating and set a $90.00 price objective on shares of AbbVie in a report on Sunday, November 4th. Bank of America decreased their target price on shares of AbbVie from $107.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, October 4th. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a research report on Monday, October 1st. Finally, SunTrust Banks decreased their target price on shares of AbbVie from $157.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, October 22nd. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. AbbVie currently has a consensus rating of “Hold” and a consensus price target of $103.68.
NYSE ABBV opened at $94.27 on Friday. The firm has a market cap of $135.24 billion, a P/E ratio of 16.83, a price-to-earnings-growth ratio of 0.84 and a beta of 1.62. AbbVie Inc has a 1 year low of $77.50 and a 1 year high of $125.86. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.20 and a quick ratio of 1.08.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, November 2nd. The company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.13. The company had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.23 billion. AbbVie had a net margin of 23.50% and a return on equity of 2,006.63%. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.41 earnings per share. On average, equities analysts predict that AbbVie Inc will post 7.93 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Tuesday, January 15th will be given a $1.07 dividend. The ex-dividend date is Monday, January 14th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.54%. This is an increase from AbbVie’s previous quarterly dividend of $0.96. AbbVie’s dividend payout ratio is 68.57%.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.
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