Howe & Rusling Inc. Has $10.62 Million Position in AbbVie Inc (NYSE:ABBV)

Howe & Rusling Inc. reduced its position in AbbVie Inc (NYSE:ABBV) by 7.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 119,548 shares of the company’s stock after selling 9,212 shares during the quarter. AbbVie makes up about 2.0% of Howe & Rusling Inc.’s portfolio, making the stock its 10th largest position. Howe & Rusling Inc.’s holdings in AbbVie were worth $10,623,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in AbbVie by 3.3% during the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after buying an additional 3,706,941 shares during the last quarter. Janus Henderson Group PLC raised its holdings in AbbVie by 1,949.7% during the second quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock worth $277,967,000 after buying an additional 3,646,510 shares during the last quarter. Orbis Allan Gray Ltd raised its holdings in AbbVie by 35.7% during the second quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after buying an additional 3,340,038 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of AbbVie by 1.2% in the second quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock valued at $12,926,708,000 after purchasing an additional 2,130,919 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of AbbVie by 2.0% in the second quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock valued at $6,821,375,000 after purchasing an additional 1,864,418 shares during the last quarter. 69.18% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP Michael Severino sold 25,633 shares of AbbVie stock in a transaction on Friday, November 10th. The shares were sold at an average price of $94.69, for a total value of $2,427,188.77. Following the sale, the executive vice president now owns 114,922 shares in the company, valued at $10,881,964.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Henry O. Gosebruch sold 18,300 shares of AbbVie stock in a transaction on Monday, October 30th. The shares were sold at an average price of $90.55, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 494,676 shares of company stock worth $47,237,938. 0.23% of the stock is owned by insiders.

Several brokerages have recently commented on ABBV. BMO Capital Markets set a $84.00 target price on shares of AbbVie and gave the company a “hold” rating in a report on Thursday. Vetr downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 price objective for the company. in a report on Monday. Barclays restated a “hold” rating and set a $68.00 price objective on shares of AbbVie in a report on Thursday, September 28th. Piper Jaffray Companies restated a “buy” rating on shares of AbbVie in a report on Tuesday, January 2nd. Finally, Evercore ISI reiterated an “outperform” rating and set a $100.00 target price (up previously from $95.00) on shares of AbbVie in a research report on Saturday, September 30th. 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’s stock. AbbVie currently has a consensus rating of “Buy” and a consensus target price of $100.94.

Shares of AbbVie Inc (NYSE ABBV) traded down $0.42 during trading on Thursday, reaching $99.27. 4,240,900 shares of the company’s stock traded hands, compared to its average volume of 4,480,000. AbbVie Inc has a twelve month low of $59.27 and a twelve month high of $101.28. The company has a market capitalization of $158,250.00, a price-to-earnings ratio of 24.09, a PEG ratio of 1.20 and a beta of 1.53. 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 (NYSE:ABBV) last posted its quarterly earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. analysts anticipate that AbbVie Inc will post 5.55 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.86%. This is an increase from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s payout ratio is presently 62.14%.

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AbbVie Company Profile

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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