AbbVie Inc (ABBV) Stake Raised by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC grew its stake in AbbVie Inc (NYSE:ABBV) by 1,907,400.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,075 shares of the company’s stock after purchasing an additional 19,074 shares during the quarter. AbbVie makes up approximately 0.5% of Wealthcare Advisory Partners LLC’s holdings, making the stock its 27th biggest holding. Wealthcare Advisory Partners LLC’s holdings in AbbVie were worth $1,695,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Hudock Capital Group LLC raised its stake in AbbVie by 109.5% during the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after acquiring an additional 806 shares during the period. Ffcm LLC raised its stake in AbbVie by 167.2% during the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after acquiring an additional 963 shares during the period. Bristlecone Advisors LLC acquired a new stake in AbbVie during the third quarter worth about $113,000. BDO Wealth Advisors LLC acquired a new stake in AbbVie during the second quarter worth about $115,000. Finally, Hershey Trust Co. acquired a new stake in AbbVie during the third quarter worth about $139,000. Institutional investors and hedge funds own 69.49% of the company’s stock.

Several research firms have commented on ABBV. BMO Capital Markets restated a “sell” rating and issued a $95.00 target price on shares of AbbVie in a research report on Thursday, February 15th. Piper Jaffray Companies upped their target price on shares of AbbVie from $130.00 to $138.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Argus upped their target price on shares of AbbVie from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. ValuEngine upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Morgan Stanley upped their target price on shares of AbbVie from $99.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $118.44.

In other news, insider Laura J. Schumacher sold 145,510 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $96.71, for a total value of $14,072,272.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert A. Michael sold 992 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $120.31, for a total transaction of $119,347.52. The disclosure for this sale can be found here. Insiders sold 233,542 shares of company stock valued at $22,760,708 over the last quarter. Insiders own 0.23% of the company’s stock.

AbbVie Inc (NYSE:ABBV) opened at $117.98 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. The stock has a market cap of $188,333.59, a P/E ratio of 35.86, a PEG ratio of 1.13 and a beta of 1.61. AbbVie Inc has a 1-year low of $61.30 and a 1-year high of $125.86.

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

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be issued a $0.96 dividend. The ex-dividend date is Thursday, April 12th. This is a boost from AbbVie’s previous quarterly dividend of $0.71. This represents a $3.84 annualized dividend and a dividend yield of 3.25%. AbbVie’s dividend payout ratio (DPR) is 86.32%.

AbbVie announced that its Board of Directors has authorized a share buyback program on Thursday, February 15th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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AbbVie 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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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