Vaughan Nelson Investment Management L.P. Reduces Position in AbbVie Inc. (NYSE:ABBV)

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Vaughan Nelson Investment Management L.P. trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 98.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,750 shares of the company’s stock after selling 672,620 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in AbbVie were worth $1,029,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. CVA Family Office LLC acquired a new position in AbbVie in the third quarter worth about $26,000. James Investment Research Inc. acquired a new position in AbbVie in the third quarter worth about $32,000. Horrell Capital Management Inc. acquired a new position in AbbVie in the third quarter worth about $39,000. RMR Wealth Builders acquired a new position in AbbVie in the second quarter worth about $44,000. Finally, Weaver Consulting Group grew its stake in AbbVie by 64.3% in the second quarter. Weaver Consulting Group now owns 562 shares of the company’s stock worth $55,000 after purchasing an additional 220 shares in the last quarter. 68.23% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO Richard A. Gonzalez sold 231,604 shares of the business’s stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $96.88, for a total transaction of $22,437,795.52. 0.09% of the stock is owned by insiders.

A number of equities analysts recently commented on the company. Sanford C. Bernstein assumed coverage on AbbVie in a research note on Tuesday, November 10th. They issued an “outperform” rating and a $120.00 price target for the company. Citigroup lifted their target price on AbbVie from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Mizuho restated a “buy” rating and issued a $111.00 target price on shares of AbbVie in a research note on Sunday, September 27th. The Goldman Sachs Group downgraded AbbVie from a “neutral” rating to a “sell” rating in a research note on Tuesday, October 20th. Finally, Morgan Stanley lifted their target price on AbbVie from $95.00 to $108.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $110.29.

Shares of NYSE ABBV opened at $98.36 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.81 and a debt-to-equity ratio of 5.38. The stock has a 50 day simple moving average of $88.26 and a 200-day simple moving average of $91.97. The company has a market cap of $173.65 billion, a PE ratio of 20.79, a P/E/G ratio of 1.61 and a beta of 0.72. AbbVie Inc. has a 12-month low of $62.55 and a 12-month high of $101.28.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 30th. The company reported $2.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.75 by $0.08. The business had revenue of $12.88 billion during the quarter, compared to the consensus estimate of $12.71 billion. AbbVie had a return on equity of 439.24% and a net margin of 18.16%. The business’s revenue was up 51.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.33 earnings per share. Sell-side analysts forecast that AbbVie Inc. will post 10.48 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 16th. Investors of record on Friday, January 15th will be issued a dividend of $1.30 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.18. The ex-dividend date of this dividend is Thursday, January 14th. This represents a $5.20 annualized dividend and a yield of 5.29%. AbbVie’s payout ratio is presently 52.80%.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, 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; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; 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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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