Signet Investment Advisory Group Inc. Invests $62,000 in AbbVie Inc (ABBV)

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Signet Investment Advisory Group Inc. purchased a new position in AbbVie Inc (NYSE:ABBV) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 675 shares of the company’s stock, valued at approximately $62,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Horrell Capital Management Inc. purchased a new stake in AbbVie during the fourth quarter valued at about $41,000. Massey Quick Simon & CO. LLC purchased a new stake in AbbVie during the fourth quarter valued at about $64,000. Lenox Wealth Management Inc. purchased a new stake in AbbVie during the fourth quarter valued at about $88,000. Brand Asset Management Group Inc. grew its position in AbbVie by 60.7% during the fourth quarter. Brand Asset Management Group Inc. now owns 1,059 shares of the company’s stock valued at $98,000 after acquiring an additional 400 shares during the period. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in AbbVie during the third quarter valued at about $112,000. 69.58% of the stock is owned by institutional investors.

In related news, EVP Azita Saleki-Gerhardt sold 15,797 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $79.03, for a total value of $1,248,436.91. Following the completion of the transaction, the executive vice president now owns 93,312 shares of the company’s stock, valued at $7,374,447.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Laura J. Schumacher sold 25,000 shares of the stock in a transaction dated Friday, December 28th. The shares were sold at an average price of $90.00, for a total value of $2,250,000.00. Following the completion of the transaction, the insider now directly owns 134,322 shares of the company’s stock, valued at approximately $12,088,980. The disclosure for this sale can be found here. Insiders sold 90,797 shares of company stock valued at $7,748,437 in the last three months. 0.07% of the stock is currently owned by company insiders.

Several brokerages have recently weighed in on ABBV. ValuEngine raised AbbVie from a “strong sell” rating to a “sell” rating in a research report on Friday. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Tuesday, January 8th. Barclays reaffirmed a “hold” rating and issued a $86.00 target price on shares of AbbVie in a research report on Thursday, February 14th. Credit Suisse Group raised AbbVie to a “hold” rating and set a $79.00 target price for the company in a research report on Thursday, January 17th. Finally, Morgan Stanley set a $88.00 target price on AbbVie and gave the stock a “hold” rating in a research report on Thursday, December 20th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. AbbVie has an average rating of “Hold” and an average price target of $94.48.

Shares of ABBV opened at $79.87 on Tuesday. The stock has a market capitalization of $119.98 billion, a P/E ratio of 10.19, a price-to-earnings-growth ratio of 1.23 and a beta of 1.17. AbbVie Inc has a one year low of $75.77 and a one year high of $114.98.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 25th. The company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.02). The business had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $8.37 billion. AbbVie had a net margin of 17.36% and a negative return on equity of 439.07%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.48 EPS. As a group, equities analysts forecast that AbbVie Inc will post 8.68 EPS for the current fiscal year.

AbbVie announced that its Board of Directors has initiated a stock buyback plan on Thursday, December 13th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 3.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is currently 54.11%.

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AbbVie 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 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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