Jolley Asset Management LLC Sells 3,550 Shares of AbbVie Inc (NYSE:ABBV)

Jolley Asset Management LLC trimmed its position in shares of AbbVie Inc (NYSE:ABBV) by 19.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 14,888 shares of the company’s stock after selling 3,550 shares during the period. Jolley Asset Management LLC’s holdings in AbbVie were worth $1,318,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ABBV. Sawyer & Company Inc raised its holdings in AbbVie by 0.5% in the 4th quarter. Sawyer & Company Inc now owns 21,075 shares of the company’s stock worth $1,866,000 after acquiring an additional 115 shares during the last quarter. Lantz Financial LLC raised its holdings in AbbVie by 3.7% in the 4th quarter. Lantz Financial LLC now owns 3,298 shares of the company’s stock worth $292,000 after acquiring an additional 118 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in AbbVie by 1.2% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 10,650 shares of the company’s stock worth $943,000 after acquiring an additional 125 shares during the last quarter. Paulson Wealth Management Inc. raised its holdings in AbbVie by 2.5% in the 4th quarter. Paulson Wealth Management Inc. now owns 5,038 shares of the company’s stock worth $443,000 after acquiring an additional 125 shares during the last quarter. Finally, Renaissance Investment Group LLC raised its holdings in AbbVie by 2.7% in the 4th quarter. Renaissance Investment Group LLC now owns 4,722 shares of the company’s stock worth $418,000 after acquiring an additional 125 shares during the last quarter. 70.46% of the stock is currently owned by institutional investors and hedge funds.

ABBV has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of AbbVie from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Piper Jaffray Companies boosted their price objective on shares of AbbVie from $81.00 to $90.00 in a report on Friday, November 1st. Cowen boosted their price objective on shares of AbbVie from $90.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, December 26th. Citigroup boosted their target price on shares of AbbVie from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, UBS Group boosted their target price on shares of AbbVie from $79.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $86.33.

Shares of ABBV stock traded down $1.62 during mid-day trading on Friday, reaching $83.65. 9,848,668 shares of the company’s stock traded hands, compared to its average volume of 6,635,899. AbbVie Inc has a 12 month low of $62.66 and a 12 month high of $91.99. The firm has a 50 day moving average price of $88.53 and a two-hundred day moving average price of $77.44. The firm has a market capitalization of $128.97 billion, a PE ratio of 38.55, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, November 1st. The company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.04. The company had revenue of $8.48 billion during the quarter, compared to the consensus estimate of $8.37 billion. AbbVie had a net margin of 9.90% and a negative return on equity of 155.96%. AbbVie’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.14 EPS. On average, research analysts anticipate that AbbVie Inc will post 8.95 earnings per share for the current year.

The company also recently announced a — dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.18 dividend. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a yield of 5.93%. This is an increase from AbbVie’s previous — dividend of $1.07. AbbVie’s dividend payout ratio is currently 59.67%.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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