Oakwood Capital Management LLC CA cut its holdings in AbbVie Inc. (NYSE:ABBV) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,291 shares of the company’s stock after selling 2,174 shares during the quarter. AbbVie accounts for 1.3% of Oakwood Capital Management LLC CA’s portfolio, making the stock its 28th biggest holding. Oakwood Capital Management LLC CA’s holdings in AbbVie were worth $5,831,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the stock. Bristlecone Advisors LLC acquired a new position in AbbVie during the third quarter worth $113,000. Ffcm LLC raised its holdings 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 purchasing an additional 963 shares during the last quarter. Hudock Capital Group LLC raised its holdings 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 purchasing an additional 806 shares during the last quarter. Hershey Trust Co. acquired a new position in AbbVie during the third quarter worth $139,000. Finally, BDO Wealth Advisors LLC acquired a new position in AbbVie during the second quarter worth $115,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.
Several equities analysts recently issued reports on the company. Argus lifted their price objective on AbbVie from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. BMO Capital Markets cut AbbVie from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $125.86 to $84.00 in a report on Monday, January 29th. They noted that the move was a valuation call. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a report on Thursday, January 18th. Piper Jaffray Companies boosted their price target on AbbVie from $130.00 to $138.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Finally, Evercore ISI reissued a “buy” rating and issued a $144.00 price target on shares of AbbVie in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. AbbVie has an average rating of “Buy” and an average price target of $120.96.
Shares of AbbVie stock opened at $113.71 on Monday. AbbVie Inc. has a 1 year low of $63.12 and a 1 year high of $125.86. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.18 and a current ratio of 1.28. The stock has a market capitalization of $180,568.41, a PE ratio of 34.56, a price-to-earnings-growth ratio of 1.07 and a beta of 1.52.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.04. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The company had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. The company’s revenue was up 13.9% compared to the same quarter last year. equities research analysts forecast that AbbVie Inc. will post 7.48 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be given a $0.96 dividend. This is an increase from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.84 annualized dividend and a dividend yield of 3.38%. AbbVie’s dividend payout ratio is presently 86.32%.
AbbVie declared that its Board of Directors has approved a share repurchase plan on Thursday, February 15th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
COPYRIGHT VIOLATION WARNING: “Oakwood Capital Management LLC CA Has $5.83 Million Position in AbbVie Inc. (ABBV)” was first reported by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The correct version of this news story can be accessed at https://stocknewstimes.com/2018/03/19/oakwood-capital-management-llc-ca-has-5-83-million-position-in-abbvie-inc-abbv.html.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
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).
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.