MRJ Capital Inc. Sells 1,700 Shares of AbbVie Inc. (ABBV)

MRJ Capital Inc. reduced its stake in AbbVie Inc. (NYSE:ABBV) by 3.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,400 shares of the company’s stock after selling 1,700 shares during the period. AbbVie accounts for approximately 1.9% of MRJ Capital Inc.’s holdings, making the stock its 29th largest holding. MRJ Capital Inc.’s holdings in AbbVie were worth $3,146,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Farr Miller & Washington LLC DC raised its stake in AbbVie by 10.0% during the 2nd quarter. Farr Miller & Washington LLC DC now owns 11,338 shares of the company’s stock worth $822,000 after buying an additional 1,032 shares during the period. D L Carlson Investment Group Inc. raised its stake in AbbVie by 89.9% during the 2nd quarter. D L Carlson Investment Group Inc. now owns 54,508 shares of the company’s stock worth $3,952,000 after buying an additional 25,811 shares during the period. Intercontinental Wealth Advisors LLC acquired a new stake in AbbVie during the 2nd quarter worth $345,000. Synovus Financial Corp raised its stake in AbbVie by 7.5% during the 2nd quarter. Synovus Financial Corp now owns 163,653 shares of the company’s stock worth $11,881,000 after buying an additional 11,367 shares during the period. Finally, Flagship Harbor Advisors LLC raised its stake in AbbVie by 4.3% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 13,345 shares of the company’s stock worth $957,000 after buying an additional 547 shares during the period. Institutional investors and hedge funds own 69.32% of the company’s stock.

Shares of AbbVie Inc. (NYSE:ABBV) opened at $95.41 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. The stock has a market capitalization of $152,012.06, a PE ratio of 17.93, a P/E/G ratio of 1.34 and a beta of 1.52. AbbVie Inc. has a 12-month low of $58.80 and a 12-month high of $98.52.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. AbbVie’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.21 earnings per share. research analysts expect that AbbVie Inc. will post 5.55 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a $0.71 dividend. The ex-dividend date is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.98%. This is an increase from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s payout ratio is currently 62.29%.

Several analysts have issued reports on the company. UBS reissued a “neutral” rating on shares of AbbVie in a research note on Friday, October 13th. Jefferies Group lifted their price target on AbbVie from $107.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, October 16th. Cowen reissued a “hold” rating and issued a $95.00 price target (up previously from $70.00) on shares of AbbVie in a research note on Monday, September 11th. Evercore ISI assumed coverage on AbbVie in a research note on Wednesday, August 16th. They issued an “outperform” rating and a $95.00 price target on the stock. Finally, BMO Capital Markets reissued a “hold” rating and issued a $84.00 price target on shares of AbbVie in a research note on Tuesday, November 21st. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $96.66.

In related news, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the sale, the chairman now owns 492,030 shares of the company’s stock, valued at $46,255,740.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert A. Michael sold 6,699 shares of AbbVie stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the sale, the vice president now directly owns 10,007 shares in the company, valued at approximately $880,616. The disclosure for this sale can be found here. In the last ninety days, insiders sold 277,125 shares of company stock worth $25,891,756. 0.23% of the stock is owned by company insiders.

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About AbbVie

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.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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