AbbVie Inc. (ABBV) Shares Bought by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI grew its holdings in AbbVie Inc. (NYSE:ABBV) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,561 shares of the company’s stock after buying an additional 3,070 shares during the quarter. AbbVie accounts for 2.7% of Arcadia Investment Management Corp MI’s investment portfolio, making the stock its 5th largest position. Arcadia Investment Management Corp MI’s holdings in AbbVie were worth $9,822,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Bristlecone Advisors LLC purchased a new stake in shares of AbbVie in the third quarter valued at approximately $113,000. Ffcm LLC increased its position in shares of AbbVie by 167.2% during the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after purchasing an additional 963 shares in the last quarter. Hudock Capital Group LLC increased its position in shares of AbbVie by 109.5% during the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after purchasing an additional 806 shares in the last quarter. Hershey Trust Co. purchased a new stake in shares of AbbVie during the third quarter worth approximately $139,000. Finally, Acropolis Investment Management LLC increased its position in shares of AbbVie by 68.3% during the fourth quarter. Acropolis Investment Management LLC now owns 1,855 shares of the company’s stock worth $179,000 after purchasing an additional 753 shares in the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.

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In other AbbVie news, VP Robert A. Michael sold 4,294 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $119.43, for a total transaction of $512,832.42. Following the transaction, the vice president now owns 11,170 shares of the company’s stock, valued at $1,334,033.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert A. Michael sold 992 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $120.31, for a total value of $119,347.52. The disclosure for this sale can be found here. Insiders have sold 211,197 shares of company stock worth $24,585,575 in the last three months. 0.23% of the stock is currently owned by corporate insiders.

ABBV has been the subject of several research reports. Credit Suisse Group set a $135.00 price target on AbbVie and gave the stock a “hold” rating in a research report on Monday, January 29th. Leerink Swann cut AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 price target for the company. in a research report on Monday, January 29th. Jefferies Group set a $145.00 price target on AbbVie and gave the stock a “buy” rating in a research report on Monday, February 26th. BMO Capital Markets set a $84.00 price target on AbbVie and gave the stock a “hold” rating in a research report on Thursday, January 11th. Finally, ValuEngine cut AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. AbbVie presently has a consensus rating of “Buy” and an average price target of $116.47.

ABBV stock opened at $97.46 on Friday. The firm has a market capitalization of $178,567.56, a price-to-earnings ratio of 29.62, a price-to-earnings-growth ratio of 1.06 and a beta of 1.52. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.18 and a current ratio of 1.28. AbbVie Inc. has a 12 month low of $63.12 and a 12 month high of $125.86.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.04. The company had revenue of $7.74 billion for the quarter, compared to analyst estimates of $7.53 billion. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 earnings per share. equities analysts forecast that AbbVie Inc. will post 7.48 EPS for the current fiscal year.

AbbVie declared that its Board of Directors has approved a stock buyback plan on Thursday, February 15th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.84 dividend on an annualized basis and a yield of 3.94%. This is a positive change from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s payout ratio is 86.32%.

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About AbbVie

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

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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