Larson Financial Group LLC Buys 229 Shares of AbbVie Inc (NYSE:ABBV)

Larson Financial Group LLC lifted its stake in AbbVie Inc (NYSE:ABBV) by 48.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 702 shares of the company’s stock after purchasing an additional 229 shares during the quarter. Larson Financial Group LLC’s holdings in AbbVie were worth $53,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Weaver Consulting Group acquired a new position in AbbVie during the first quarter valued at approximately $25,000. Arbor Wealth Management LLC acquired a new position in AbbVie during the second quarter valued at approximately $28,000. Lowe Wealth Advisors LLC raised its position in AbbVie by 206.7% during the second quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock valued at $33,000 after purchasing an additional 310 shares in the last quarter. Horrell Capital Management Inc. acquired a new position in AbbVie during the second quarter valued at approximately $33,000. Finally, TD Capital Management LLC acquired a new position in AbbVie during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 68.14% of the company’s stock.

ABBV has been the subject of several research analyst reports. UBS Group upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $85.00 to $79.00 in a research report on Thursday, September 12th. ValuEngine upgraded shares of AbbVie from a “strong sell” rating to a “sell” rating in a research report on Monday, September 30th. Citigroup upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $87.00 to $90.00 in a research report on Thursday, September 26th. Piper Jaffray Companies boosted their price objective on shares of AbbVie from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Finally, TheStreet downgraded shares of AbbVie from a “b-” rating to a “c” rating in a research report on Monday, August 26th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $89.97.

In related news, major shareholder Istar Inc. acquired 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of $28.52 per share, for a total transaction of $1,140,800.00. Also, EVP Henry O. Gosebruch acquired 30,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was bought at an average price of $67.28 per share, with a total value of $2,018,400.00. Following the completion of the acquisition, the executive vice president now directly owns 75,763 shares of the company’s stock, valued at $5,097,334.64. The disclosure for this purchase can be found here. Insiders have bought 183,077 shares of company stock valued at $10,705,751 over the last quarter. Company insiders own 0.08% of the company’s stock.

Shares of NYSE:ABBV opened at $73.63 on Friday. The company has a fifty day moving average of $70.42 and a 200-day moving average of $73.88. The company has a market capitalization of $108.86 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 1.50 and a beta of 0.99. AbbVie Inc has a 52-week low of $62.66 and a 52-week high of $94.98.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.05. The company had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.09 billion. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.00 earnings per share. Sell-side analysts expect that AbbVie Inc will post 8.9 earnings per share for the current fiscal year.

The business also recently declared a — dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.07 per share. The ex-dividend date is Friday, October 11th. This represents a dividend yield of 6.4%. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.

About AbbVie

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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