Ipswich Investment Management Co. Inc. boosted its position in AbbVie Inc (NYSE:ABBV) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,705 shares of the company’s stock after purchasing an additional 925 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in AbbVie were worth $3,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kempen Capital Management N.V. acquired a new stake in shares of AbbVie in the 2nd quarter valued at $41,000. Edge Wealth Management LLC lifted its stake in shares of AbbVie by 106.1% in the 3rd quarter. Edge Wealth Management LLC now owns 573 shares of the company’s stock worth $43,000 after acquiring an additional 295 shares during the period. Massey Quick Simon & CO. LLC lifted its stake in shares of AbbVie by 2,400.0% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 625 shares of the company’s stock worth $47,000 after acquiring an additional 600 shares during the period. Selective Wealth Management Inc. acquired a new stake in shares of AbbVie in the 3rd quarter worth $48,000. Finally, Garrett Wealth Advisory Group LLC acquired a new stake in shares of AbbVie in the 3rd quarter worth $50,000. 70.42% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently commented on the stock. Royal Bank of Canada assumed coverage on shares of AbbVie in a research note on Monday. They issued a “sector perform” rating and a $86.00 target price for the company. Piper Jaffray Companies raised their target price on shares of AbbVie from $81.00 to $90.00 in a research note on Friday, November 1st. UBS Group raised their price objective on shares of AbbVie from $79.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Cowen raised their price objective on shares of AbbVie from $90.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, December 26th. Finally, ValuEngine upgraded shares of AbbVie from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. AbbVie presently has an average rating of “Hold” and an average price target of $87.47.
Shares of NYSE ABBV traded up $1.03 during midday trading on Wednesday, reaching $89.93. 3,313,195 shares of the stock were exchanged, compared to its average volume of 5,972,325. The company has a market capitalization of $132.21 billion, a P/E ratio of 11.37, a P/E/G ratio of 2.11 and a beta of 0.97. AbbVie Inc has a 52-week low of $62.66 and a 52-week high of $92.30. The stock has a 50 day moving average price of $88.17 and a 200-day moving average price of $76.29.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, November 1st. The company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.04. The business had revenue of $8.48 billion during the quarter, compared to the consensus estimate of $8.37 billion. AbbVie had a net margin of 9.90% and a negative return on equity of 155.96%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.14 earnings per share. Research analysts predict that AbbVie Inc will post 8.93 earnings per share for the current year.
The company also recently declared a — dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.18 per share. The ex-dividend date is Tuesday, January 14th. This is an increase from AbbVie’s previous — dividend of $1.07. This represents a dividend yield of 5.93%. AbbVie’s payout ratio is 54.11%.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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