Asset Dedication LLC Acquires 1,646 Shares of AbbVie Inc (NYSE:ABBV)

Asset Dedication LLC increased its position in AbbVie Inc (NYSE:ABBV) by 39.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,850 shares of the company’s stock after buying an additional 1,646 shares during the period. Asset Dedication LLC’s holdings in AbbVie were worth $445,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. First Midwest Bank Trust Division grew its holdings in AbbVie by 2.6% during the third quarter. First Midwest Bank Trust Division now owns 60,233 shares of the company’s stock valued at $4,561,000 after purchasing an additional 1,501 shares during the last quarter. Capital Investment Advisory Services LLC grew its holdings in AbbVie by 80.4% during the third quarter. Capital Investment Advisory Services LLC now owns 27,677 shares of the company’s stock valued at $2,096,000 after purchasing an additional 12,337 shares during the last quarter. Renaissance Investment Group LLC grew its holdings in AbbVie by 6.3% during the third quarter. Renaissance Investment Group LLC now owns 4,597 shares of the company’s stock valued at $348,000 after purchasing an additional 272 shares during the last quarter. First Bank & Trust grew its holdings in AbbVie by 12.6% during the third quarter. First Bank & Trust now owns 31,549 shares of the company’s stock valued at $2,389,000 after purchasing an additional 3,521 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its holdings in AbbVie by 63.6% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 644,325 shares of the company’s stock valued at $48,788,000 after purchasing an additional 250,403 shares during the last quarter. Hedge funds and other institutional investors own 68.38% of the company’s stock.

Several equities analysts have commented on ABBV shares. ValuEngine upgraded AbbVie from a “strong sell” rating to a “sell” rating in a report on Monday, September 30th. TheStreet downgraded AbbVie from a “b-” rating to a “c” rating in a report on Monday, August 26th. Piper Jaffray Companies increased their price target on AbbVie from $81.00 to $90.00 in a report on Friday, November 1st. Cowen set a $90.00 price target on AbbVie and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, UBS Group upgraded AbbVie from a “neutral” rating to a “buy” rating and lowered their price target for the company from $85.00 to $79.00 in a report on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $84.88.

In other news, SVP Jeffrey Ryan Stewart bought 15,552 shares of AbbVie stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average cost of $64.44 per share, with a total value of $1,002,170.88. Following the completion of the transaction, the senior vice president now directly owns 65,304 shares in the company, valued at $4,208,189.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Istar Inc. bought 40,000 shares of AbbVie stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average cost of $28.52 per share, with a total value of $1,140,800.00. Over the last ninety days, insiders purchased 88,077 shares of company stock valued at $4,401,551. 0.08% of the stock is owned by company insiders.

Shares of AbbVie stock traded up $3.20 during midday trading on Friday, hitting $85.21. The company had a trading volume of 11,307,381 shares, compared to its average volume of 7,972,123. The business’s 50 day simple moving average is $76.28 and its two-hundred day simple moving average is $73.49. The stock has a market cap of $121.00 billion, a PE ratio of 10.77, a P/E/G ratio of 2.04 and a beta of 0.98. AbbVie Inc has a 1-year low of $62.66 and a 1-year high of $94.98.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, November 1st. The company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.04. The business had revenue of $8.48 billion for the quarter, compared to the consensus estimate of $8.37 billion. AbbVie had a net margin of 9.90% and a negative return on equity of 155.71%. AbbVie’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $2.14 earnings per share. Equities analysts predict that AbbVie Inc will post 8.93 earnings per share for the current fiscal year.

The company also recently announced a — dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a $1.07 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a yield of 6.4%. AbbVie’s dividend payout ratio (DPR) is currently 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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