Sigma Investment Counselors Inc. trimmed its holdings in AbbVie Inc (NYSE:ABBV) by 2.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,700 shares of the company’s stock after selling 1,109 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in AbbVie were worth $4,061,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in ABBV. Formidable Asset Management LLC raised its holdings in AbbVie by 0.3% during the 2nd quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock worth $285,000 after purchasing an additional 10 shares during the last quarter. WealthTrust Axiom LLC raised its holdings in AbbVie by 0.3% during the 2nd quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock worth $312,000 after purchasing an additional 15 shares during the last quarter. Abner Herrman & Brock LLC raised its holdings in AbbVie by 0.3% during the 2nd quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock worth $456,000 after purchasing an additional 18 shares during the last quarter. St. Louis Trust Co raised its holdings in AbbVie by 0.7% during the 2nd quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock worth $248,000 after purchasing an additional 23 shares during the last quarter. Finally, TRUE Private Wealth Advisors raised its holdings in AbbVie by 0.6% during the 2nd quarter. TRUE Private Wealth Advisors now owns 4,814 shares of the company’s stock worth $349,000 after purchasing an additional 27 shares during the last quarter. 69.22% of the stock is owned by institutional investors and hedge funds.
Shares of AbbVie Inc (ABBV) opened at $104.64 on Monday. 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 company has a market capitalization of $167,050.42, a PE ratio of 25.46, a PEG ratio of 1.22 and a beta of 1.52. AbbVie Inc has a 52 week low of $59.27 and a 52 week high of $104.87.
The firm also recently disclosed 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. The ex-dividend date is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a dividend yield of 2.71%. AbbVie’s payout ratio is currently 69.10%.
In related news, Chairman Richard A. Gonzalez sold 218,193 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chairman now directly owns 492,030 shares in the company, valued at approximately $46,255,740.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Henry O. Gosebruch sold 18,300 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 81,287 shares of the company’s stock, valued at $7,360,537.85. The disclosure for this sale can be found here. Insiders sold a total of 494,676 shares of company stock valued at $47,237,938 over the last quarter. 0.23% of the stock is owned by insiders.
Several brokerages have weighed in on ABBV. Leerink Swann set a $106.00 price objective on AbbVie and gave the stock a “buy” rating in a report on Tuesday, December 5th. Argus boosted their price objective on AbbVie from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, September 29th. UBS Group cut AbbVie from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $79.00 to $92.00 in a report on Monday, September 25th. Jefferies Group reissued a “buy” rating and set a $107.00 price objective on shares of AbbVie in a report on Thursday, September 28th. Finally, Barclays reaffirmed a “hold” rating and issued a $68.00 price target on shares of AbbVie in a research note on Thursday, September 28th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $101.38.
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.
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