Oakworth Capital Inc. Cuts Holdings in AbbVie Inc (ABBV)
Oakworth Capital Inc. decreased its position in AbbVie Inc (NYSE:ABBV) by 21.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 9,231 shares of the company’s stock after selling 2,540 shares during the period. Oakworth Capital Inc.’s holdings in AbbVie were worth $894,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the company. Formidable Asset Management LLC raised its stake in shares of AbbVie by 0.3% during the 2nd quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock worth $285,000 after purchasing an additional 10 shares in the last quarter. TRUE Private Wealth Advisors increased its holdings in shares of AbbVie by 0.6% during the 2nd quarter. TRUE Private Wealth Advisors now owns 4,814 shares of the company’s stock worth $349,000 after acquiring an additional 27 shares during the last quarter. Aspen Investment Management Inc increased its holdings in shares of AbbVie by 0.8% during the 2nd quarter. Aspen Investment Management Inc now owns 5,210 shares of the company’s stock worth $378,000 after acquiring an additional 40 shares during the last quarter. Beaumont Financial Partners LLC increased its holdings in shares of AbbVie by 1.0% during the 2nd quarter. Beaumont Financial Partners LLC now owns 5,616 shares of the company’s stock worth $407,000 after acquiring an additional 56 shares during the last quarter. Finally, Schulhoff & Co. Inc. increased its holdings in shares of AbbVie by 0.3% during the 2nd quarter. Schulhoff & Co. Inc. now owns 23,912 shares of the company’s stock worth $1,733,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 69.76% of the company’s stock.
A number of research analysts recently weighed in on ABBV shares. BMO Capital Markets lowered AbbVie from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $125.86 to $84.00 in a report on Monday, January 29th. They noted that the move was a valuation call. BidaskClub raised AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 11th. Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Credit Suisse Group set a $98.00 target price on AbbVie and gave the stock a “hold” rating in a report on Monday, January 22nd. Finally, Piper Jaffray Companies reissued a “buy” rating on shares of AbbVie in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. AbbVie has a consensus rating of “Buy” and an average target price of $120.96.
AbbVie Inc (ABBV) opened at $119.29 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.28 and a debt-to-equity ratio of 6.07. AbbVie Inc has a 1-year low of $63.12 and a 1-year high of $125.86. The company has a market capitalization of $189,429.30, a price-to-earnings ratio of 36.26, a price-to-earnings-growth ratio of 1.13 and a beta of 1.52.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 26th. The company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.04. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The firm had revenue of $7.74 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same period in the prior year, the firm posted $1.20 EPS. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. equities research analysts predict that AbbVie Inc will post 7.48 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.22%. This is a positive change from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date is Thursday, April 12th. AbbVie’s dividend payout ratio is currently 86.32%.
AbbVie announced that its board has initiated a stock repurchase program on Thursday, February 15th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
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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.
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