Markston International LLC lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 8.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 139,687 shares of the company’s stock after selling 12,997 shares during the period. AbbVie comprises 1.4% of Markston International LLC’s holdings, making the stock its 24th largest holding. Markston International LLC’s holdings in AbbVie were worth $13,509,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Bristlecone Advisors LLC bought a new position in shares of AbbVie during the third quarter valued at $113,000. Ffcm LLC raised its stake in shares of AbbVie by 167.2% during the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after acquiring an additional 963 shares during the last quarter. Hudock Capital Group LLC raised its stake in shares of AbbVie by 109.5% during the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after acquiring an additional 806 shares during the last quarter. Hershey Trust Co. bought a new position in shares of AbbVie during the third quarter valued at $139,000. Finally, BDO Wealth Advisors LLC bought a new position in shares of AbbVie during the second quarter valued at $115,000. 70.51% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the stock. Piper Jaffray Companies raised their price target on shares of AbbVie from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. SunTrust Banks lifted their target price on shares of AbbVie to $157.00 and gave the stock an “average” rating in a research note on Monday, January 29th. Leerink Swann downgraded shares of AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 target price for the company. in a research note on Monday, January 29th. BMO Capital Markets downgraded shares of AbbVie from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $125.86 to $84.00 in a research note on Monday, January 29th. They noted that the move was a valuation call. Finally, Evercore ISI reissued a “buy” rating and set a $144.00 target price on shares of AbbVie in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $120.96.
Shares of AbbVie Inc. (NYSE:ABBV) opened at $112.03 on Tuesday. AbbVie Inc. has a 52 week low of $63.12 and a 52 week high of $125.86. The company has a quick ratio of 1.18, a current ratio of 1.28 and a debt-to-equity ratio of 6.07. The firm has a market cap of $180,568.41, a price-to-earnings ratio of 34.05, a price-to-earnings-growth ratio of 1.07 and a beta of 1.52.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.04. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. 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 earnings per share. The business’s revenue was up 13.9% compared to the same quarter last year. equities research analysts predict that AbbVie Inc. will post 7.48 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be paid a $0.96 dividend. This is an increase from AbbVie’s previous quarterly dividend of $0.71. This represents a $3.84 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Thursday, April 12th. AbbVie’s payout ratio is 86.32%.
AbbVie declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 15th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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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.
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