Midwest Professional Planners LTD. Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

Midwest Professional Planners LTD. raised its stake in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,382 shares of the company’s stock after acquiring an additional 215 shares during the period. Midwest Professional Planners LTD.’s holdings in AbbVie were worth $1,406,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. OLD Mission Capital LLC purchased a new position in shares of AbbVie during the 3rd quarter worth approximately $242,000. Camden National Bank raised its stake in shares of AbbVie by 2.3% during the 4th quarter. Camden National Bank now owns 10,924 shares of the company’s stock worth $1,171,000 after buying an additional 245 shares in the last quarter. Morgan Stanley raised its stake in shares of AbbVie by 1.1% during the 2nd quarter. Morgan Stanley now owns 18,944,687 shares of the company’s stock worth $2,133,931,000 after buying an additional 214,425 shares in the last quarter. Keudell Morrison Wealth Management raised its stake in shares of AbbVie by 5.0% during the 3rd quarter. Keudell Morrison Wealth Management now owns 30,717 shares of the company’s stock worth $3,313,000 after buying an additional 1,469 shares in the last quarter. Finally, Center for Financial Planning Inc. raised its stake in shares of AbbVie by 4.1% during the 3rd quarter. Center for Financial Planning Inc. now owns 12,004 shares of the company’s stock worth $1,295,000 after buying an additional 471 shares in the last quarter. 67.03% of the stock is owned by hedge funds and other institutional investors.

In other AbbVie news, Vice Chairman Robert A. Michael sold 43,105 shares of the company’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $148.25, for a total value of $6,390,316.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Henry O. Gosebruch sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $148.26, for a total value of $2,223,900.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 304,423 shares of company stock worth $45,925,851. 0.08% of the stock is owned by corporate insiders.

Shares of AbbVie stock traded down $0.79 during trading hours on Friday, hitting $153.50. 6,398,527 shares of the company’s stock traded hands, compared to its average volume of 7,759,677. The stock has a 50 day simple moving average of $157.75 and a 200-day simple moving average of $140.25. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 3.89. The company has a market cap of $271.25 billion, a PE ratio of 22.02, a PEG ratio of 4.26 and a beta of 0.83. AbbVie Inc. has a twelve month low of $105.56 and a twelve month high of $175.91.

AbbVie (NYSE:ABBVGet Rating) last posted its quarterly earnings results on Friday, April 29th. The company reported $3.16 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.02. AbbVie had a return on equity of 159.31% and a net margin of 22.00%. The business had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.61 billion. During the same period last year, the firm earned $2.95 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities research analysts predict that AbbVie Inc. will post 14.06 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 16th. Stockholders of record on Friday, April 15th will be issued a dividend of $1.41 per share. The ex-dividend date is Wednesday, April 13th. This represents a $5.64 dividend on an annualized basis and a dividend yield of 3.67%. AbbVie’s dividend payout ratio (DPR) is presently 80.92%.

A number of equities research analysts recently weighed in on the company. UBS Group cut AbbVie from a “buy” rating to a “neutral” rating and upped their price target for the stock from $129.00 to $147.00 in a report on Monday, February 28th. JPMorgan Chase & Co. upped their price target on AbbVie from $165.00 to $180.00 in a report on Thursday, February 3rd. The Goldman Sachs Group upped their price target on AbbVie from $122.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, April 12th. Wells Fargo & Company upped their price target on AbbVie from $165.00 to $200.00 in a report on Monday, May 2nd. Finally, Cowen increased their target price on AbbVie from $130.00 to $150.00 in a report on Tuesday, January 18th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $159.44.

AbbVie Company Profile (Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

Further Reading

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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