11,127 Shares in AbbVie Inc (ABBV) Purchased by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC acquired a new stake in AbbVie Inc (NYSE:ABBV) during the third quarter, Holdings Channel reports. The institutional investor acquired 11,127 shares of the company’s stock, valued at approximately $989,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ABBV. Eagle Ridge Investment Management boosted its holdings in AbbVie by 12.2% in the 2nd quarter. Eagle Ridge Investment Management now owns 108,728 shares of the company’s stock valued at $6,849,000 after purchasing an additional 11,834 shares in the last quarter. JLB & Associates Inc. purchased a new stake in AbbVie in the 2nd quarter valued at approximately $4,375,000. Princeton Capital Management Inc. acquired a new stake in shares of AbbVie during the 2nd quarter valued at approximately $1,394,000. Retirement Systems of Alabama lifted its position in shares of AbbVie by 6.5% during the 2nd quarter. Retirement Systems of Alabama now owns 1,217,357 shares of the company’s stock valued at $88,271,000 after acquiring an additional 73,783 shares during the period. Finally, Chicago Partners Investment Group LLC lifted its position in shares of AbbVie by 142.8% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 16,269 shares of the company’s stock valued at $1,101,000 after acquiring an additional 9,569 shares during the period. 69.49% of the stock is currently owned by institutional investors.

A number of research firms have recently issued reports on ABBV. ValuEngine upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Leerink Swann set a $106.00 price target on shares of AbbVie and gave the company a “buy” rating in a research report on Tuesday, December 5th. Credit Suisse Group set a $135.00 price target on shares of AbbVie and gave the company a “hold” rating in a research report on Monday, January 29th. Zacks Investment Research downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Finally, Piper Jaffray Companies lifted their price target on shares of AbbVie from $130.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $118.44.

AbbVie Inc (NYSE:ABBV) opened at $118.60 on Monday. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. AbbVie Inc has a 12-month low of $61.17 and a 12-month high of $125.86. The stock has a market capitalization of $188,333.59, a P/E ratio of 36.05, a P/E/G ratio of 1.13 and a beta of 1.60.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.04. AbbVie had a return on equity of 152.78% and a net margin of 18.82%. The firm had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same period in the previous year, the firm posted $1.20 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. analysts predict that AbbVie Inc will post 7.46 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be given a dividend of $0.96 per share. This is an increase from AbbVie’s previous quarterly dividend of $0.71. This represents a $3.84 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Thursday, April 12th. AbbVie’s payout ratio is currently 86.32%.

AbbVie announced that its board has approved a stock buyback program on Thursday, February 15th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

In related news, insider Laura J. Schumacher sold 145,510 shares of AbbVie stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $96.71, for a total transaction of $14,072,272.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the completion of the sale, the chairman now directly owns 492,030 shares of the company’s stock, valued at $46,255,740.30. The disclosure for this sale can be found here. Insiders have sold a total of 450,743 shares of company stock valued at $43,153,684 over the last 90 days. Insiders own 0.23% of the company’s stock.

WARNING: “11,127 Shares in AbbVie Inc (ABBV) Purchased by Valeo Financial Advisors LLC” was posted by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright laws. The correct version of this article can be read at https://stocknewstimes.com/2018/02/19/11127-shares-in-abbvie-inc-abbv-purchased-by-valeo-financial-advisors-llc.html.

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.

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc (NYSE:ABBV).

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply