Cetera Investment Advisers Has $2.43 Million Holdings in AbbVie Inc (ABBV)

Cetera Investment Advisers boosted its position in shares of AbbVie Inc (NYSE:ABBV) by 17.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,453 shares of the company’s stock after purchasing an additional 5,062 shares during the period. Cetera Investment Advisers’ holdings in AbbVie were worth $2,427,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. EP Wealth Advisors LLC purchased a new position in AbbVie during the second quarter worth about $236,000. Advisory Services Network LLC raised its stake in AbbVie by 7.1% during the second quarter. Advisory Services Network LLC now owns 32,290 shares of the company’s stock worth $2,341,000 after purchasing an additional 2,143 shares during the period. U S Global Investors Inc. purchased a new stake in shares of AbbVie in the 2nd quarter valued at approximately $2,006,000. Beaton Management Co. Inc. purchased a new stake in shares of AbbVie in the 2nd quarter valued at approximately $528,000. Finally, Fort Pitt Capital Group LLC raised its stake in shares of AbbVie by 3.0% in the 2nd quarter. Fort Pitt Capital Group LLC now owns 26,215 shares of the company’s stock valued at $1,901,000 after acquiring an additional 766 shares during the period. 69.32% of the stock is currently owned by institutional investors.

In related news, insider Henry O. Gosebruch sold 18,300 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $90.55, for a total value of $1,657,065.00. Following the completion of the sale, the insider now owns 81,287 shares in the company, valued at approximately $7,360,537.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Robert A. Michael sold 6,699 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $88.00, for a total transaction of $589,512.00. Following the completion of the sale, the vice president now owns 10,007 shares of the company’s stock, valued at approximately $880,616. The disclosure for this sale can be found here. In the last quarter, insiders sold 268,825 shares of company stock valued at $25,186,090. 0.23% of the stock is owned by insiders.

A number of equities research analysts have recently issued reports on ABBV shares. Societe Generale boosted their price target on shares of AbbVie in a research note on Tuesday, November 21st. Jefferies Group reissued a “buy” rating and issued a $107.00 price target (up from $94.00) on shares of AbbVie in a research note on Friday, September 15th. Piper Jaffray Companies reissued a “buy” rating and issued a $100.00 price target on shares of AbbVie in a research note on Friday, September 15th. SunTrust Banks reissued a “buy” rating and issued a $95.00 price target on shares of AbbVie in a research note on Wednesday, September 13th. Finally, Goldman Sachs Group reissued a “buy” rating and issued a $100.00 price target (up from $85.00) on shares of AbbVie in a research note on Friday, September 8th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $97.96.

AbbVie Inc (ABBV) opened at $97.35 on Thursday. AbbVie Inc has a twelve month low of $59.27 and a twelve month high of $98.87. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. The stock has a market cap of $153,736.20, a price-to-earnings ratio of 18.14, a PEG ratio of 1.34 and a beta of 1.52.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The business had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the prior year, the business posted $1.21 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. sell-side analysts expect that AbbVie Inc will post 5.55 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a $0.71 dividend. This is an increase from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.84 annualized dividend and a yield of 2.92%. AbbVie’s dividend payout ratio is 62.29%.

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About AbbVie

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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