AbbVie Inc. (ABBV) Holdings Decreased by WESPAC Advisors LLC

WESPAC Advisors LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,466 shares of the company’s stock after selling 1,178 shares during the quarter. AbbVie makes up about 1.7% of WESPAC Advisors LLC’s investment portfolio, making the stock its 20th largest holding. WESPAC Advisors LLC’s holdings in AbbVie were worth $1,786,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC bought a new position in shares of AbbVie during the third quarter worth $544,418,000. Capital International Investors boosted its position in shares of AbbVie by 137.7% during the third quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock worth $697,989,000 after acquiring an additional 4,550,954 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of AbbVie by 3.3% during the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after acquiring an additional 3,706,941 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of AbbVie by 1,949.7% during the second quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock worth $277,967,000 after acquiring an additional 3,646,510 shares during the last quarter. Finally, Orbis Allan Gray Ltd boosted its position in shares of AbbVie by 35.7% during the second quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after acquiring an additional 3,340,038 shares during the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.

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

A number of equities analysts recently weighed in on ABBV shares. BMO Capital Markets lowered shares of AbbVie from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $125.86 to $84.00 in a research report on Monday, January 29th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Credit Suisse Group set a $98.00 target price on shares of AbbVie and gave the stock a “hold” rating in a research report on Monday, January 22nd. Piper Jaffray Companies restated a “buy” rating on shares of AbbVie in a research report on Tuesday, January 2nd. Finally, SunTrust Banks upped their target price on shares of AbbVie to $157.00 and gave the stock an “average” rating in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. AbbVie presently has an average rating of “Buy” and an average target price of $116.47.

AbbVie stock opened at $97.46 on Friday. AbbVie Inc. has a 12-month low of $63.12 and a 12-month high of $125.86. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.18 and a current ratio of 1.28. The company has a market cap of $154,763.84, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 0.92 and a beta of 1.52.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 26th. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.04. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The business had revenue of $7.74 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same quarter last year, the business earned $1.20 earnings per share. AbbVie’s quarterly revenue was up 13.9% compared to the same quarter last year. equities research analysts forecast that AbbVie Inc. will post 7.5 EPS for the current fiscal year.

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

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.84 annualized dividend and a dividend yield of 3.94%. This is an increase from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s dividend payout ratio is currently 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.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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