Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its position in shares of AbbVie Inc (NYSE:ABBV) by 102.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 86,734 shares of the company’s stock after purchasing an additional 43,992 shares during the period. AbbVie accounts for 2.1% of Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings, making the stock its 13th biggest position. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in AbbVie were worth $7,996,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in AbbVie by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 4,824,617 shares of the company’s stock worth $447,001,000 after acquiring an additional 157,594 shares during the last quarter. Premier Fund Managers Ltd acquired a new stake in AbbVie during the second quarter worth approximately $3,721,000. Great West Life Assurance Co. Can boosted its position in AbbVie by 4.8% during the second quarter. Great West Life Assurance Co. Can now owns 1,457,385 shares of the company’s stock worth $135,149,000 after acquiring an additional 66,436 shares during the last quarter. Meadow Creek Investment Management LLC boosted its position in AbbVie by 115.6% during the second quarter. Meadow Creek Investment Management LLC now owns 186,200 shares of the company’s stock worth $17,251,000 after acquiring an additional 99,820 shares during the last quarter. Finally, Tyers Asset Management LLC boosted its position in AbbVie by 7.6% during the second quarter. Tyers Asset Management LLC now owns 106,400 shares of the company’s stock worth $9,858,000 after acquiring an additional 7,536 shares during the last quarter. 70.63% of the stock is currently owned by institutional investors.
Shares of ABBV traded down $0.41 during mid-day trading on Monday, reaching $79.26. The company had a trading volume of 549,734 shares, compared to its average volume of 8,067,862. The firm has a market cap of $119.84 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 1.20 and a beta of 1.17. AbbVie Inc has a fifty-two week low of $75.77 and a fifty-two week high of $122.00.
AbbVie declared that its board has authorized a stock buyback plan on Thursday, December 13th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 3.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
A number of brokerages recently issued reports on ABBV. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Tuesday, January 8th. Credit Suisse Group set a $79.00 target price on shares of AbbVie and gave the stock a “hold” rating in a research report on Friday, January 25th. BMO Capital Markets decreased their target price on shares of AbbVie from $78.00 to $71.00 and set an “underperform” rating on the stock in a research report on Monday, November 5th. ValuEngine upgraded shares of AbbVie from a “sell” rating to a “hold” rating in a research report on Monday, November 12th. Finally, Argus decreased their target price on shares of AbbVie from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, November 6th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $96.85.
In related news, EVP Henry O. Gosebruch sold 42,450 shares of AbbVie stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $90.10, for a total transaction of $3,824,745.00. Following the transaction, the executive vice president now owns 30,350 shares in the company, valued at approximately $2,734,535. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Laura J. Schumacher sold 94,140 shares of AbbVie stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $93.58, for a total transaction of $8,809,621.20. Following the transaction, the insider now owns 192,398 shares in the company, valued at approximately $18,004,604.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 263,440 shares of company stock worth $24,029,804. 0.07% of the stock is owned by company insiders.
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AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C.
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