AbbVie Inc. (NYSE:ABBV) Stake Raised by Founders Capital Management

Cornelia Mascio
Agosto 13, 2017

State Street Corp's holdings in AbbVie were worth $4,754,696,000 at the end of the most recent reporting period. It fall, as 86 investors sold ABBV shares while 555 reduced holdings. Folger Hill Asset Management LP purchased a new stake in shares of AbbVie during the fourth quarter valued at $274,000. Cheviot Value Management Llc bought 2,979 shares as the company's stock declined 3.45% while stock markets rallied. Regent Investment Management LLC increased its position in shares of AbbVie by 7.3% in the second quarter. TRUE Private Wealth Advisors now owns 4,787 shares of the company's stock worth $313,000 after buying an additional 24 shares in the last quarter. LLP boosted its position in AbbVie by 0.5% in the fourth quarter. BerganKDV Wealth Management LLC now owns 27,081 shares of the company's stock worth $1,964,000 after buying an additional 719 shares during the last quarter. Country Club Trust Company n.a. boosted its position in AbbVie by 0.6% in the first quarter. Following the completion of the transaction, the chairman now owns 469,623 shares of the company's stock, valued at $33,343,233. Finally, Stratford Consulting LLC boosted its position in AbbVie by 0.7% in the first quarter. Iberiabank Corp now owns 84,402 shares of the company's stock valued at $5,285,000 after buying an additional 7,216 shares in the last quarter. The stock rose 0.98% or $5.15 reaching $530.7. New York-based Neville Rodie And Shaw has invested 1.29% in AbbVie Inc (NYSE:ABBV).

Shares of AbbVie (NYSE ABBV) traded up 0.30% on Thursday, reaching $71.20. Capital Research Global Investors bought 13.69 million shares as the company's stock rose 6.17% with the market. The company has a market cap of $112.59 billion, a price-to-earnings ratio of 17.37 and a beta of 1.50. Deutsche Bank AG upped their target price on the stock of AbbVie from $64.00 to $65.00 and issued the company a "hold" recommendation in a analysis note on Friday morning, April 28th. Morgan Stanley downgraded AbbVie Inc (NYSE:ABBV) on Wednesday, June 8 to "Equal-Weight" rating. The company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.40 by $0.02. AbbVie had a return on equity of 154.76% and a net margin of 24.77%. The company had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period previous year, the firm posted $1.26 earnings per share. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. Equities analysts anticipate that AbbVie Inc. will post $5.52 EPS for the current fiscal year.

As of late the company also announced dividend for the quarter, expected to be paid on early Tue, Aug 15th. Shareholders of record on Friday, July 14th will be paid a $0.64 dividend. The company was initiated on Wednesday, July 22 by SunTrust. AbbVie's payout ratio is now 62.90%.

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ABBV has been the subject of a number of recent research reports. BMO Capital Markets reaffirmed a "hold" rating and set a $63.00 target price on shares of AbbVie in a research note on Tuesday, April 18th. Piper Jaffray Companies reaffirmed a "buy" rating and set a $85.00 target price on shares of AbbVie in a research report on Thursday, August 3rd. Vetr downgraded AbbVie from a "buy" rating to a "hold" rating and set a $72.72 target price for the a research note on Wednesday, June 14th. Zacks Investment Research downgraded shares of AbbVie from a "hold" rating to a "sell" rating in a research report on Tuesday, July 4th. Finally, Deutsche Bank AG increased their target price on shares of AbbVie from $64.00 to $65.00 and gave the company a "hold" rating in a report on Friday, April 28th. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. The stock has "Buy" rating by TheStreet on Tuesday, August 11.

In related news, CFO William J. Chase sold 38,300 shares of AbbVie stock in a transaction on Thursday, May 18th. The stock was purchased at an average cost of $70.45 per share, with a total value of $281,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 71,235 shares of AbbVie stock in a transaction on Friday, May 19th. The disclosure for this sale can be found here. Over the last quarter, insiders sold 600,026 shares of company stock valued at $41,852,724. AbbVie Inc (NYSE:ABBV) has risen 10.63% since August 11, 2016 and is uptrending. The Electric segment includes the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota by Otter Tail Power Company. The Company's 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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