AbbVie Inc (ABBV) Shares Bought by Signature Wealth Management Group

[ad_1]

Signature Wealth Management Group boosted its holdings in shares of AbbVie Inc (NYSE:ABBV) by 6.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,599 shares of the company’s stock after buying an additional 1,795 shares during the quarter. AbbVie makes up approximately 1.9% of Signature Wealth Management Group’s investment portfolio, making the stock its 25th largest position. Signature Wealth Management Group’s holdings in AbbVie were worth $2,571,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Signature Estate & Investment Advisors LLC acquired a new position in AbbVie during the third quarter worth approximately $112,000. Mainstay Capital Management LLC ADV increased its position in AbbVie by 6,123.5% during the second quarter. Mainstay Capital Management LLC ADV now owns 12,447 shares of the company’s stock worth $143,000 after buying an additional 12,247 shares during the last quarter. First Mercantile Trust Co. acquired a new position in AbbVie during the second quarter worth approximately $150,000. MUFG Securities EMEA plc acquired a new position in AbbVie during the second quarter worth approximately $157,000. Finally, Kiley Juergens Wealth Management LLC increased its position in AbbVie by 69.3% during the third quarter. Kiley Juergens Wealth Management LLC now owns 1,761 shares of the company’s stock worth $166,000 after buying an additional 721 shares during the last quarter. 69.77% of the stock is currently owned by hedge funds and other institutional investors.

In other AbbVie news, insider Laura J. Schumacher sold 94,140 shares of the business’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $93.58, for a total transaction of $8,809,621.20. Following the completion of the transaction, the insider now directly owns 192,398 shares in the company, valued at $18,004,604.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Henry O. Gosebruch sold 42,450 shares of the business’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $90.10, for a total transaction of $3,824,745.00. Following the transaction, the executive vice president now owns 30,350 shares of the company’s stock, valued at $2,734,535. The disclosure for this sale can be found here. Over the last quarter, insiders sold 213,440 shares of company stock valued at $19,529,804. 0.07% of the stock is currently owned by corporate insiders.

A number of brokerages have weighed in on ABBV. Credit Suisse Group set a $85.00 price target on AbbVie and gave the stock a “hold” rating in a research report on Sunday, October 14th. Barclays reissued a “hold” rating and set a $90.00 price target on shares of AbbVie in a research report on Sunday, November 4th. Bank of America lowered their price target on AbbVie from $107.00 to $106.00 and set a “buy” rating on the stock in a research report on Thursday, October 4th. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a report on Monday, October 1st. Finally, Argus reduced their price objective on AbbVie from $130.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, November 6th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. AbbVie currently has an average rating of “Hold” and an average price target of $102.39.

Shares of ABBV stock opened at $84.92 on Friday. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.20 and a quick ratio of 1.08. The company has a market capitalization of $128.41 billion, a P/E ratio of 15.16, a P/E/G ratio of 0.79 and a beta of 1.68. AbbVie Inc has a 1 year low of $77.50 and a 1 year high of $125.86.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, November 2nd. The company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.13. The business had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.23 billion. AbbVie had a return on equity of 2,006.63% and a net margin of 23.50%. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 earnings per share. As a group, analysts predict that AbbVie Inc will post 7.93 earnings per share for the current year.

AbbVie declared that its Board of Directors has approved a stock repurchase plan on Thursday, December 13th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to repurchase up to 3.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Tuesday, January 15th will be paid a $1.07 dividend. This is a boost from AbbVie’s previous quarterly dividend of $0.96. This represents a $4.28 annualized dividend and a dividend yield of 5.04%. The ex-dividend date is Monday, January 14th. AbbVie’s payout ratio is 68.57%.

WARNING: “AbbVie Inc (ABBV) Shares Bought by Signature Wealth Management Group” was posted by Fairfield Current and is owned by of Fairfield Current. If you are accessing this article on another domain, it was illegally copied and republished in violation of international trademark & copyright law. The legal version of this article can be accessed at https://www.fairfieldcurrent.com/news/2018/12/22/signature-wealth-management-group-has-2-57-million-stake-in-abbvie-inc-abbv.html.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.

See Also: Bollinger Bands

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for AbbVie and related companies with MarketBeat.com’s FREE daily email newsletter.

[ad_2]

Source link

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *