AbbVie Inc (ABBV) Holdings Reduced by Janney Montgomery Scott LLC

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Janney Montgomery Scott LLC reduced its position in AbbVie Inc (NYSE:ABBV) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 505,000 shares of the company’s stock after selling 3,687 shares during the quarter. Janney Montgomery Scott LLC’s holdings in AbbVie were worth $47,763,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ABBV. Signature Estate & Investment Advisors LLC acquired a new stake in shares of AbbVie in the 3rd quarter valued at approximately $112,000. Mainstay Capital Management LLC ADV boosted its stake in shares of AbbVie by 6,123.5% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 12,447 shares of the company’s stock valued at $143,000 after purchasing an additional 12,247 shares in the last quarter. First Mercantile Trust Co. acquired a new stake in shares of AbbVie in the 2nd quarter valued at approximately $150,000. MUFG Securities EMEA plc acquired a new stake in shares of AbbVie in the 2nd quarter valued at approximately $157,000. Finally, Kiley Juergens Wealth Management LLC boosted its stake in shares of AbbVie by 69.3% in the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 1,761 shares of the company’s stock valued at $166,000 after purchasing an additional 721 shares in the last quarter. 69.77% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:ABBV opened at $83.58 on Wednesday. The company has a debt-to-equity ratio of 8.70, a quick ratio of 1.08 and a current ratio of 1.20. AbbVie Inc has a one year low of $77.50 and a one year high of $125.86. The company has a market cap of $127.75 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 0.79 and a beta of 1.68.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, November 2nd. The company reported $2.14 EPS for the quarter, topping the consensus estimate of $2.01 by $0.13. AbbVie had a net margin of 23.50% and a return on equity of 2,006.63%. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same period last year, the company earned $1.41 EPS. The firm’s revenue was up 17.7% compared to the same quarter last year. On average, analysts expect that AbbVie Inc will post 7.93 earnings per share for the current fiscal year.

AbbVie declared that its board has initiated a stock repurchase program on Thursday, December 13th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to reacquire up to 3.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Tuesday, January 15th will be given a dividend of $1.07 per share. The ex-dividend date is Monday, January 14th. This is an increase from AbbVie’s previous quarterly dividend of $0.96. This represents a $4.28 annualized dividend and a yield of 5.12%. AbbVie’s dividend payout ratio (DPR) is currently 68.57%.

In related news, Chairman Richard A. Gonzalez sold 16,850 shares of AbbVie stock in a transaction that occurred on Tuesday, December 11th. The shares were sold at an average price of $88.75, for a total transaction of $1,495,437.50. Following the sale, the chairman now directly owns 286,203 shares in the company, valued at approximately $25,400,516.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP William J. Chase sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 12th. The stock was sold at an average price of $90.00, for a total transaction of $5,400,000.00. Following the transaction, the executive vice president now owns 104,863 shares of the company’s stock, valued at approximately $9,437,670. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,440 shares of company stock worth $19,529,804. 0.07% of the stock is owned by corporate insiders.

A number of equities research analysts have recently weighed in on ABBV shares. BMO Capital Markets restated a “sell” rating and issued a $78.00 price target on shares of AbbVie in a research note on Wednesday, August 22nd. Wolfe Research started coverage on shares of AbbVie in a research note on Tuesday, October 23rd. They issued an “underperform” rating on the stock. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research note on Monday, October 1st. Credit Suisse Group set a $85.00 price target on shares of AbbVie and gave the company a “hold” rating in a research note on Friday, November 2nd. Finally, Barclays restated a “hold” rating and issued a $90.00 price target on shares of AbbVie in a research note on Sunday, November 4th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $103.68.

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AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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