SG Trading Solutions LLC Takes $3.24 Million Position in AbbVie Inc. $ABBV

SG Trading Solutions LLC bought a new stake in shares of AbbVie Inc. (NYSE:ABBVFree Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,175 shares of the company’s stock, valued at approximately $3,239,000. AbbVie makes up 0.8% of SG Trading Solutions LLC’s holdings, making the stock its 23rd biggest position.

Other hedge funds have also recently bought and sold shares of the company. Bank of Jackson Hole Trust lifted its holdings in AbbVie by 0.6% in the 4th quarter. Bank of Jackson Hole Trust now owns 7,213 shares of the company’s stock valued at $1,648,000 after acquiring an additional 44 shares during the last quarter. Eclectic Associates Inc. ADV grew its stake in shares of AbbVie by 0.8% in the 4th quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company’s stock worth $1,337,000 after purchasing an additional 45 shares during the last quarter. Imprint Wealth LLC raised its holdings in shares of AbbVie by 56.2% in the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after purchasing an additional 45 shares in the last quarter. Hardin Capital Partners LLC raised its holdings in shares of AbbVie by 1.4% in the 4th quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company’s stock worth $759,000 after purchasing an additional 46 shares in the last quarter. Finally, Dogwood Wealth Management LLC raised its holdings in shares of AbbVie by 10.8% in the 4th quarter. Dogwood Wealth Management LLC now owns 473 shares of the company’s stock worth $108,000 after purchasing an additional 46 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

AbbVie stock opened at $216.63 on Friday. The firm’s 50 day simple moving average is $212.18 and its 200-day simple moving average is $218.76. The company has a market cap of $382.74 billion, a P/E ratio of 106.71, a price-to-earnings-growth ratio of 0.66 and a beta of 0.32. AbbVie Inc. has a fifty-two week low of $181.73 and a fifty-two week high of $244.81.

AbbVie (NYSE:ABBVGet Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter in the prior year, the firm earned $2.46 EPS. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. On average, analysts expect that AbbVie Inc. will post 14.3 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be issued a $1.73 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 3.2%. AbbVie’s dividend payout ratio is presently 340.89%.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research reports. Royal Bank Of Canada started coverage on shares of AbbVie in a report on Tuesday, February 24th. They set an “outperform” rating and a $260.00 target price for the company. William Blair reaffirmed an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. DZ Bank upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. BMO Capital Markets reissued an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a report on Monday, June 8th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $253.43.

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About AbbVie

(Free Report)

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.

See Also

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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