AbbVie Inc (ABBV) Stake Lessened by Rampart Investment Management Company LLC

Rampart Investment Management Company LLC decreased its position in AbbVie Inc (NYSE:ABBV) by 25.8% during the 4th quarter, Holdings Channel reports. The firm owned 16,196 shares of the company’s stock after selling 5,634 shares during the period. Rampart Investment Management Company LLC’s holdings in AbbVie were worth $1,493,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Eagle Capital Management LLC grew its stake in AbbVie by 2.3% in the third quarter. Eagle Capital Management LLC now owns 34,102 shares of the company’s stock worth $3,225,000 after purchasing an additional 769 shares in the last quarter. Lipe & Dalton grew its stake in AbbVie by 163.0% in the third quarter. Lipe & Dalton now owns 13,230 shares of the company’s stock worth $1,251,000 after purchasing an additional 8,200 shares in the last quarter. Investment Counselors of Maryland LLC grew its stake in AbbVie by 12.7% in the third quarter. Investment Counselors of Maryland LLC now owns 11,085 shares of the company’s stock worth $1,048,000 after purchasing an additional 1,250 shares in the last quarter. Brookstone Capital Management grew its stake in AbbVie by 20.1% in the third quarter. Brookstone Capital Management now owns 21,692 shares of the company’s stock worth $2,052,000 after purchasing an additional 3,637 shares in the last quarter. Finally, Main Street Research LLC grew its stake in AbbVie by 7.6% in the third quarter. Main Street Research LLC now owns 162,030 shares of the company’s stock worth $15,325,000 after purchasing an additional 11,449 shares in the last quarter. Hedge funds and other institutional investors own 70.66% of the company’s stock.

In related news, VP Brian L. Durkin sold 475 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $79.69, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 15,797 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $79.03, for a total value of $1,248,436.91. Following the sale, the executive vice president now directly owns 93,312 shares in the company, valued at approximately $7,374,447.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,272 shares of company stock valued at $3,286,290. Insiders own 0.08% of the company’s stock.

A number of equities analysts have commented on the company. Morgan Stanley set a $88.00 target price on AbbVie and gave the company a “hold” rating in a research note on Thursday, December 20th. Zacks Investment Research downgraded AbbVie from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. Argus downgraded AbbVie from a “buy” rating to a “hold” rating in a research note on Monday, March 25th. Barclays restated a “hold” rating and issued a $86.00 target price on shares of AbbVie in a research note on Thursday, February 14th. Finally, Credit Suisse Group set a $79.00 target price on AbbVie and gave the company a “hold” rating in a research note on Friday, January 25th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $94.48.

Shares of NYSE ABBV opened at $80.21 on Wednesday. The company has a market cap of $119.53 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 1.66 and a beta of 1.16. AbbVie Inc has a 12-month low of $75.77 and a 12-month high of $107.25.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $4.28 annualized dividend and a dividend yield of 5.34%. AbbVie’s dividend payout ratio is presently 54.11%.

TRADEMARK VIOLATION NOTICE: This article was first posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this article on another publication, it was copied illegally and reposted in violation of US and international copyright laws. The original version of this article can be read at https://www.chaffeybreeze.com/2019/04/17/abbvie-inc-abbv-stake-lessened-by-rampart-investment-management-company-llc.html.

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.

See Also: How to trade on quiet period expirations

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc (NYSE:ABBV).

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.