Diversified Trust Co. boosted its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 8.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,691 shares of the company’s stock after acquiring an additional 4,615 shares during the period. Diversified Trust Co.’s holdings in AbbVie were worth $14,096,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ellenbecker Investment Group lifted its position in shares of AbbVie by 0.8% in the 3rd quarter. Ellenbecker Investment Group now owns 5,334 shares of the company’s stock worth $1,235,000 after purchasing an additional 44 shares during the period. Security National Bank of Sioux City Iowa IA increased its position in shares of AbbVie by 0.3% during the third quarter. Security National Bank of Sioux City Iowa IA now owns 15,382 shares of the company’s stock worth $3,562,000 after buying an additional 45 shares during the period. Matthew Goff Investment Advisor LLC raised its stake in AbbVie by 0.3% during the third quarter. Matthew Goff Investment Advisor LLC now owns 17,561 shares of the company’s stock worth $4,066,000 after buying an additional 45 shares during the last quarter. Centennial Wealth Advisory LLC raised its stake in AbbVie by 2.2% during the third quarter. Centennial Wealth Advisory LLC now owns 2,089 shares of the company’s stock worth $484,000 after buying an additional 45 shares during the last quarter. Finally, Willner & Heller LLC lifted its holdings in AbbVie by 0.6% in the third quarter. Willner & Heller LLC now owns 7,596 shares of the company’s stock valued at $1,759,000 after buying an additional 46 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.
AbbVie Trading Down 0.1%
Shares of NYSE ABBV opened at $204.89 on Tuesday. The firm has a market capitalization of $362.29 billion, a P/E ratio of 86.82, a P/E/G ratio of 0.71 and a beta of 0.34. The firm’s 50-day moving average price is $222.79 and its 200-day moving average price is $224.80. AbbVie Inc. has a 1-year low of $164.39 and a 1-year high of $244.81.
AbbVie Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Wednesday, April 15th will be issued a dividend of $1.73 per share. The ex-dividend date is Wednesday, April 15th. This represents a $6.92 annualized dividend and a dividend yield of 3.4%. AbbVie’s payout ratio is currently 293.22%.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on ABBV shares. Royal Bank Of Canada started coverage on AbbVie in a report on Tuesday, February 24th. They set an “outperform” rating and a $260.00 price target for the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $223.00 price objective on shares of AbbVie in a research note on Wednesday, January 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research note on Wednesday, January 21st. BMO Capital Markets reiterated an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of AbbVie in a research note on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.15.
Check Out Our Latest Stock Report on ABBV
Insider Activity at AbbVie
In related news, EVP Perry C. Siatis sold 22,381 shares of AbbVie stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $230.00, for a total value of $5,147,630.00. Following the completion of the sale, the executive vice president owned 38,137 shares of the company’s stock, valued at approximately $8,771,510. This trade represents a 36.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP David Ryan Purdue sold 5,230 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the transaction, the senior vice president owned 2,654 shares in the company, valued at approximately $619,868.24. The trade was a 66.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.08% of the company’s stock.
About AbbVie
AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.
AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.
Further Reading
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