Gyroscope Capital Management Group LLC increased its stake in shares of AbbVie Inc (NYSE:ABBV) by 5.9% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 70,185 shares of the company’s stock after buying an additional 3,926 shares during the period. AbbVie accounts for 2.9% of Gyroscope Capital Management Group LLC’s investment portfolio, making the stock its 17th largest position. Gyroscope Capital Management Group LLC’s holdings in AbbVie were worth $4,395,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the stock. Penserra Capital Management LLC boosted its stake in shares of AbbVie by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,764 shares of the company’s stock valued at $111,000 after buying an additional 882 shares during the period. First PREMIER Bank boosted its stake in shares of AbbVie by 1,850.0% in the third quarter. First PREMIER Bank now owns 1,950 shares of the company’s stock valued at $123,000 after buying an additional 1,850 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of AbbVie by 1.6% in the third quarter. Proficio Capital Partners LLC now owns 2,719 shares of the company’s stock valued at $171,000 after buying an additional 43 shares during the period. Massey Quick & Co. LLC bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $177,000. Finally, D. Scott Neal Inc. boosted its stake in shares of AbbVie by 42.7% in the third quarter. D. Scott Neal Inc. now owns 2,853 shares of the company’s stock valued at $180,000 after buying an additional 854 shares during the period. Hedge funds and other institutional investors own 66.67% of the company’s stock.
Shares of AbbVie Inc (NYSE:ABBV) opened at 65.80 on Tuesday. AbbVie Inc has a one year low of $54.80 and a one year high of $68.12. The stock has a market capitalization of $104.88 billion, a P/E ratio of 18.13 and a beta of 1.57. The stock’s 50 day moving average is $62.44 and its 200-day moving average is $62.01.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 27th. The company reported $1.20 EPS for the quarter, hitting the consensus estimate of $1.20. The business earned $6.78 billion during the quarter, compared to analyst estimates of $6.92 billion. AbbVie had a net margin of 23.22% and a return on equity of 141.55%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.13 earnings per share. On average, equities research analysts expect that AbbVie Inc will post $5.50 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Thursday, April 13th will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Tuesday, April 11th. This represents a $2.56 annualized dividend and a dividend yield of 3.89%. AbbVie’s dividend payout ratio is currently 70.52%.
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Several brokerages recently commented on ABBV. Vetr upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating and set a $74.72 price objective for the company in a research note on Monday, March 13th. Jefferies Group LLC restated a “buy” rating and set a $90.00 target price (up previously from $4.30) on shares of AbbVie in a research report on Tuesday, March 7th. William Blair restated an “outperform” rating and set a $76.00 target price on shares of AbbVie in a research report on Thursday, December 8th. Finally, Goldman Sachs Group Inc upgraded shares of AbbVie from a “buy” rating to a “conviction-buy” rating and lifted their target price for the stock from $74.00 to $80.00 in a research report on Saturday, March 11th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. AbbVie presently has a consensus rating of “Hold” and a consensus target price of $70.69.
In related news, SVP Timothy J. Richmond sold 22,451 shares of the stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $65.29, for a total value of $1,465,825.79. Following the completion of the transaction, the senior vice president now owns 26,078 shares in the company, valued at approximately $1,702,632.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Laura J. Schumacher sold 40,000 shares of the stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $65.26, for a total transaction of $2,610,400.00. Following the completion of the transaction, the insider now owns 147,415 shares of the company’s stock, valued at approximately $9,620,302.90. The disclosure for this sale can be found here. Insiders have sold 139,599 shares of company stock valued at $9,038,322 in the last 90 days. Insiders own 0.11% of the company’s stock.
AbbVie Company 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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