Lenox Wealth Management Inc. Makes New Investment in AbbVie Inc (NYSE:ABBV)

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Lenox Wealth Management Inc. acquired a new position in shares of AbbVie Inc (NYSE:ABBV) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 11,416 shares of the company’s stock, valued at approximately $864,000.

Other large investors have also recently made changes to their positions in the company. Lavaca Capital LLC increased its stake in shares of AbbVie by 69.2% in the 2nd quarter. Lavaca Capital LLC now owns 49,404 shares of the company’s stock valued at $3,593,000 after acquiring an additional 20,213 shares during the last quarter. Horseman Capital Management Ltd increased its stake in shares of AbbVie by 45.5% in the 2nd quarter. Horseman Capital Management Ltd now owns 16,000 shares of the company’s stock valued at $1,164,000 after acquiring an additional 5,000 shares during the last quarter. Ironwood Investment Counsel LLC increased its stake in shares of AbbVie by 7.9% in the 2nd quarter. Ironwood Investment Counsel LLC now owns 9,171 shares of the company’s stock valued at $666,000 after acquiring an additional 675 shares during the last quarter. Cedar Wealth Management LLC bought a new stake in shares of AbbVie in the 2nd quarter valued at about $44,000. Finally, Ballentine Partners LLC increased its stake in shares of AbbVie by 52.1% in the 2nd quarter. Ballentine Partners LLC now owns 12,168 shares of the company’s stock valued at $886,000 after acquiring an additional 4,169 shares during the last quarter. 68.38% of the stock is owned by hedge funds and other institutional investors.

In other AbbVie news, EVP Timothy J. Richmond sold 15,515 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $75.02, for a total transaction of $1,163,935.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Laura J. Schumacher purchased 25,000 shares of AbbVie stock in a transaction on Monday, September 16th. The shares were purchased at an average cost of $70.42 per share, with a total value of $1,760,500.00. Following the transaction, the insider now owns 164,838 shares in the company, valued at $11,607,891.96. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 88,077 shares of company stock valued at $4,401,551. 0.08% of the stock is owned by company insiders.

NYSE ABBV traded up $3.20 during trading hours on Friday, reaching $85.21. 11,307,381 shares of the company’s stock were exchanged, compared to its average volume of 7,972,123. The company’s 50-day moving average is $76.28 and its two-hundred day moving average is $73.49. AbbVie Inc has a one year low of $62.66 and a one year high of $94.98. The company has a market capitalization of $121.00 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 2.04 and a beta of 0.98.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, November 1st. The company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.04. AbbVie had a negative return on equity of 155.71% and a net margin of 9.90%. The business had revenue of $8.48 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same period in the prior year, the business earned $2.14 EPS. AbbVie’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts predict that AbbVie Inc will post 8.93 EPS for the current year.

The firm also recently announced a — dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $1.07 per share. The ex-dividend date is Friday, October 11th. This represents a yield of 6.4%. AbbVie’s payout ratio is 54.11%.

A number of analysts have recently commented on the company. Piper Jaffray Companies upped their price target on AbbVie from $81.00 to $90.00 in a research note on Friday, November 1st. ValuEngine raised AbbVie from a “strong sell” rating to a “sell” rating in a research note on Monday, September 30th. UBS Group raised 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 research note on Thursday, September 12th. TheStreet cut AbbVie from a “b-” rating to a “c” rating in a research note on Monday, August 26th. Finally, Cowen set a $90.00 price target on AbbVie and gave the company a “buy” rating in a research note on Tuesday, September 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $84.88.

AbbVie Company Profile

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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