Sunbelt Securities Inc. Grows Holdings in AbbVie Inc (ABBV)

Sunbelt Securities Inc. grew its holdings in shares of AbbVie Inc (NYSE:ABBV) by 440.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,480 shares of the company’s stock after purchasing an additional 12,614 shares during the period. AbbVie makes up about 1.4% of Sunbelt Securities Inc.’s holdings, making the stock its 10th biggest position. Sunbelt Securities Inc. owned approximately 971.09% of AbbVie worth $1,376,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Jaffetilchin Investment Partners LLC grew its holdings in shares of AbbVie by 15.2% in the 3rd quarter. Jaffetilchin Investment Partners LLC now owns 13,286 shares of the company’s stock worth $1,181,000 after acquiring an additional 1,751 shares during the period. Fiduciary Trust Co. grew its holdings in shares of AbbVie by 1.1% in the 3rd quarter. Fiduciary Trust Co. now owns 325,348 shares of the company’s stock worth $28,910,000 after acquiring an additional 3,395 shares during the period. Annex Advisory Services LLC grew its holdings in shares of AbbVie by 17.7% in the 3rd quarter. Annex Advisory Services LLC now owns 42,809 shares of the company’s stock worth $3,804,000 after acquiring an additional 6,426 shares during the period. BigSur Wealth Management LLC acquired a new stake in shares of AbbVie in the 3rd quarter worth approximately $213,000. Finally, Wesbanco Bank Inc. grew its holdings in shares of AbbVie by 8.5% in the 3rd quarter. Wesbanco Bank Inc. now owns 58,285 shares of the company’s stock worth $5,179,000 after acquiring an additional 4,577 shares during the period. Institutional investors own 69.19% of the company’s stock.

In other AbbVie news, insider Henry O. Gosebruch sold 18,300 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the transaction, the insider now owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the transaction, the chairman now directly owns 492,030 shares in the company, valued at approximately $46,255,740.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 494,676 shares of company stock worth $47,237,938. Corporate insiders own 0.23% of the company’s stock.

ABBV has been the topic of a number of research reports. Societe Generale upped their price target on AbbVie in a report on Tuesday, November 21st. Jefferies Group restated a “buy” rating and issued a $107.00 price target on shares of AbbVie in a report on Thursday, September 28th. Argus upped their price target on AbbVie from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, September 29th. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a report on Tuesday, October 17th. Finally, BidaskClub cut AbbVie from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 25th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $100.94.

Shares of AbbVie Inc (NYSE:ABBV) opened at $100.34 on Tuesday. The company has a market capitalization of $160,185.78, a price-to-earnings ratio of 24.41, a price-to-earnings-growth ratio of 1.20 and a beta of 1.52. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08. AbbVie Inc has a fifty-two week low of $59.27 and a fifty-two week high of $101.28.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. AbbVie’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 EPS. equities research analysts forecast that AbbVie Inc will post 5.54 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Thursday, January 11th. This is a boost from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio is 69.10%.

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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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