3,414 Shares in AbbVie Inc (ABBV) Acquired by Econ Financial Services Corp

Econ Financial Services Corp purchased a new stake in shares of AbbVie Inc (NYSE:ABBV) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,414 shares of the company’s stock, valued at approximately $315,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sawgrass Asset Management LLC grew its holdings in AbbVie by 7.4% during the 4th quarter. Sawgrass Asset Management LLC now owns 409,054 shares of the company’s stock valued at $37,711,000 after buying an additional 28,134 shares in the last quarter. Johnson Financial Group Inc. boosted its position in shares of AbbVie by 61.0% during the 3rd quarter. Johnson Financial Group Inc. now owns 37,592 shares of the company’s stock valued at $3,555,000 after acquiring an additional 14,242 shares during the last quarter. Coastline Trust Co boosted its position in shares of AbbVie by 1.0% during the 4th quarter. Coastline Trust Co now owns 21,251 shares of the company’s stock valued at $1,959,000 after acquiring an additional 201 shares during the last quarter. Guinness Asset Management Ltd boosted its position in shares of AbbVie by 33.2% during the 4th quarter. Guinness Asset Management Ltd now owns 220,210 shares of the company’s stock valued at $20,301,000 after acquiring an additional 54,840 shares during the last quarter. Finally, Accident Compensation Corp boosted its position in shares of AbbVie by 13.0% during the 3rd quarter. Accident Compensation Corp now owns 65,192 shares of the company’s stock valued at $6,166,000 after acquiring an additional 7,492 shares during the last quarter. 70.66% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Azita Saleki-Gerhardt sold 15,797 shares of AbbVie stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $79.03, for a total transaction of $1,248,436.91. Following the completion of the sale, the executive vice president now directly owns 93,312 shares in the company, valued at $7,374,447.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Brian L. Durkin sold 475 shares of AbbVie stock in a transaction on Monday, March 25th. The stock was sold at an average price of $79.69, for a total value of $37,852.75. Following the sale, the vice president now owns 9,121 shares of the company’s stock, valued at $726,852.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,272 shares of company stock valued at $3,286,290. 0.08% of the stock is owned by corporate insiders.

A number of research analysts have recently commented on ABBV shares. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Tuesday, January 8th. Standpoint Research started coverage on AbbVie in a research report on Wednesday, December 26th. They set a “buy” rating for the company. Argus downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Monday, March 25th. Barclays reiterated a “hold” rating and set a $86.00 target price on shares of AbbVie in a research report on Thursday, February 14th. Finally, Morgan Stanley set a $88.00 target price on AbbVie and gave the company a “hold” rating in a research report on Thursday, December 20th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $94.48.

Shares of ABBV opened at $81.03 on Tuesday. The firm has a market capitalization of $119.16 billion, a P/E ratio of 10.24, a P/E/G ratio of 1.66 and a beta of 1.16. AbbVie Inc has a 52-week low of $75.77 and a 52-week high of $107.25.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 25th. The company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.02). The company had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $8.37 billion. AbbVie had a negative return on equity of 439.07% and a net margin of 17.36%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.48 earnings per share. On average, analysts anticipate that AbbVie Inc will post 8.69 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a $1.07 dividend. The ex-dividend date is Friday, April 12th. This represents a $4.28 dividend on an annualized basis and a yield of 5.28%. AbbVie’s dividend payout ratio is presently 54.11%.

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AbbVie Company Profile

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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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