Cypress Wealth Services LLC Invests $2.58 Million in AbbVie Inc. (ABBV) Stock

Cypress Wealth Services LLC bought a new stake in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 26,687 shares of the company’s stock, valued at approximately $2,581,000. AbbVie comprises approximately 1.1% of Cypress Wealth Services LLC’s investment portfolio, making the stock its 29th biggest position.

A number of other hedge funds have also recently made changes to their positions in the stock. Bristlecone Advisors LLC acquired a new position in shares of AbbVie during the 3rd quarter valued at about $113,000. Ffcm LLC increased its stake in shares of AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after acquiring an additional 963 shares during the last quarter. Hershey Trust Co. acquired a new position in shares of AbbVie during the 3rd quarter valued at about $139,000. Acropolis Investment Management LLC increased its stake in shares of AbbVie by 68.3% during the 4th quarter. Acropolis Investment Management LLC now owns 1,855 shares of the company’s stock valued at $179,000 after acquiring an additional 753 shares during the last quarter. Finally, REDW Stanley Financial Advisors LLC acquired a new position in shares of AbbVie during the 4th quarter valued at about $204,000. 70.54% of the stock is owned by hedge funds and other institutional investors.

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A number of research analysts have recently commented on the stock. Argus upped their price objective on shares of AbbVie from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. BMO Capital Markets downgraded shares of AbbVie from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $125.86 to $84.00 in a research note on Monday, January 29th. They noted that the move was a valuation call. Bank of America set a $120.00 price objective on shares of AbbVie and gave the company a “hold” rating in a research note on Monday, March 26th. Finally, Barclays dropped their price objective on shares of AbbVie from $120.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. AbbVie presently has an average rating of “Buy” and a consensus target price of $117.38.

In other AbbVie news, insider Laura J. Schumacher sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $117.85, for a total value of $2,946,250.00. Following the completion of the transaction, the insider now owns 123,317 shares in the company, valued at approximately $14,532,908.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Robert A. Michael sold 992 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was 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. In the last 90 days, insiders sold 211,197 shares of company stock valued at $24,585,575. 0.07% of the stock is owned by company insiders.

ABBV opened at $89.78 on Monday. The company has a market cap of $142,568.22, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 0.85 and a beta of 1.61. AbbVie Inc. has a 1 year low of $63.12 and a 1 year high of $125.86. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.28 and a quick ratio of 1.18.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.04. The firm had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The company’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. analysts expect that AbbVie Inc. will post 7.51 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Thursday, April 12th. This is a boost from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s dividend payout ratio is currently 50.71%.

AbbVie declared that its board has authorized a share buyback program on Thursday, February 15th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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AbbVie Company Profile

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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