AbbVie Inc (ABBV) Holdings Maintained by J.P. Marvel Investment Advisors LLC
J.P. Marvel Investment Advisors LLC maintained its stake in AbbVie Inc (NYSE:ABBV) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,753 shares of the company’s stock at the close of the second quarter. AbbVie comprises about 1.9% of J.P. Marvel Investment Advisors LLC’s investment portfolio, making the stock its 20th largest position. J.P. Marvel Investment Advisors LLC’s holdings in AbbVie were worth $5,638,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Acropolis Investment Management LLC bought a new stake in AbbVie during the 2nd quarter valued at approximately $106,000. Ffcm LLC boosted its stake in 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 purchasing an additional 963 shares during the period. Hudock Capital Group LLC boosted its stake in AbbVie by 109.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after purchasing an additional 806 shares during the period. BDO Wealth Advisors LLC bought a new stake in AbbVie during the 2nd quarter valued at approximately $115,000. Finally, Franklin Parlapiano Turner & Welch LLC bought a new stake in AbbVie during the 1st quarter valued at approximately $108,000. 69.32% of the stock is currently owned by institutional investors and hedge funds.
Shares of AbbVie Inc (NYSE ABBV) opened at $97.45 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. AbbVie Inc has a 52-week low of $59.27 and a 52-week high of $98.87. The company has a market capitalization of $153,736.20, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 1.34 and a beta of 1.52.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $7 billion. During the same quarter last year, the company earned $1.21 EPS. The company’s quarterly revenue was up 8.8% on a year-over-year basis. sell-side analysts expect that AbbVie Inc will post 5.55 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a $0.71 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.91%. This is an increase from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio (DPR) is currently 62.29%.
Several brokerages recently weighed in on ABBV. UBS restated a “neutral” rating on shares of AbbVie in a research note on Friday, October 13th. Jefferies Group increased their target price on AbbVie from $107.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, October 16th. Cowen restated a “hold” rating and set a $95.00 target price (up previously from $70.00) on shares of AbbVie in a research note on Monday, September 11th. BMO Capital Markets restated a “hold” rating and set a $84.00 target price on shares of AbbVie in a research note on Tuesday, November 21st. Finally, Piper Jaffray Companies increased their target price on AbbVie to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $97.96.
In related news, insider Laura J. Schumacher sold 145,510 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $96.71, for a total transaction of $14,072,272.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert A. Michael sold 6,699 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $88.00, for a total value of $589,512.00. Following the transaction, the vice president now owns 10,007 shares of the company’s stock, valued at approximately $880,616. The disclosure for this sale can be found here. Insiders sold a total of 414,335 shares of company stock valued at $39,258,362 in the last quarter. Corporate insiders own 0.23% of the company’s stock.
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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