AbbVie Inc (ABBV) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. trimmed its position in AbbVie Inc (NYSE:ABBV) by 0.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 125,780 shares of the company’s stock after selling 270 shares during the quarter. Logan Capital Management Inc.’s holdings in AbbVie were worth $11,595,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of ABBV. Sawgrass Asset Management LLC boosted its position in shares of AbbVie by 7.4% during the 4th quarter. Sawgrass Asset Management LLC now owns 409,054 shares of the company’s stock worth $37,711,000 after acquiring an additional 28,134 shares in the last quarter. Tradition Capital Management LLC boosted its position in shares of AbbVie by 3.7% during the 4th quarter. Tradition Capital Management LLC now owns 91,197 shares of the company’s stock worth $8,407,000 after acquiring an additional 3,247 shares in 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 worth $1,959,000 after acquiring an additional 201 shares in the last quarter. Guinness Asset Management Ltd boosted its position in AbbVie by 33.2% in the fourth quarter. Guinness Asset Management Ltd now owns 220,210 shares of the company’s stock valued at $20,301,000 after buying an additional 54,840 shares in the last quarter. Finally, Baxter Bros Inc. boosted its position in AbbVie by 36.4% in the fourth quarter. Baxter Bros Inc. now owns 2,999 shares of the company’s stock valued at $276,000 after buying an additional 800 shares in the last quarter. 70.53% of the stock is currently owned by institutional investors.

In related news, VP Brian L. Durkin sold 475 shares of AbbVie stock in a transaction on Monday, March 25th. The shares were sold at an average price of $79.69, for a total transaction of $37,852.75. Following the completion of the transaction, the vice president now owns 9,121 shares of the company’s stock, valued at $726,852.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the executive vice president now directly owns 93,312 shares of the company’s stock, valued at approximately $7,374,447.36. The disclosure for this sale can be found here. Insiders have sold 41,272 shares of company stock valued at $3,286,290 in the last three months. 0.08% of the stock is owned by insiders.

A number of brokerages have weighed in on ABBV. UBS Group restated a “neutral” rating and issued a $91.00 target price (down previously from $97.00) on shares of AbbVie in a research report on Wednesday, January 23rd. Zacks Investment Research lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Wednesday, January 23rd. Barclays restated a “hold” rating and issued a $86.00 target price on shares of AbbVie in a research report on Thursday, February 14th. ValuEngine downgraded shares of AbbVie from a “hold” rating to a “sell” rating in a research note on Friday, January 25th. Finally, Credit Suisse Group set a $79.00 price target on shares of AbbVie and gave the company a “hold” rating in a research note on Friday, January 25th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $94.95.

ABBV stock opened at $80.88 on Wednesday. AbbVie Inc has a 52-week low of $75.62 and a 52-week high of $107.24. The firm has a market cap of $118.00 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 1.62 and a beta of 1.14.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, April 25th. The company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.08. AbbVie had a net margin of 16.42% and a negative return on equity of 221.09%. The business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.81 billion. During the same quarter last year, the firm earned $1.87 earnings per share. AbbVie’s quarterly revenue was down 1.3% on a year-over-year basis. On average, sell-side analysts forecast that AbbVie Inc will post 8.83 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, April 15th were paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date of this dividend was Friday, April 12th. 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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