Bristol Advisors LLC Invests $369,000 in AbbVie Inc (ABBV)
Bristol Advisors LLC purchased a new position in shares of AbbVie Inc (NYSE:ABBV) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,900 shares of the company’s stock, valued at approximately $369,000. AbbVie accounts for approximately 0.6% of Bristol Advisors LLC’s investment portfolio, making the stock its 25th largest holding.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Morgan Stanley raised its stake in shares of AbbVie by 3.2% in the second quarter. Morgan Stanley now owns 11,134,470 shares of the company’s stock valued at $1,031,608,000 after acquiring an additional 348,882 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of AbbVie by 15.9% in the second quarter. Janus Henderson Group PLC now owns 5,243,956 shares of the company’s stock valued at $485,867,000 after acquiring an additional 717,452 shares during the last quarter. Bank of Montreal Can raised its stake in shares of AbbVie by 9.2% in the third quarter. Bank of Montreal Can now owns 5,210,247 shares of the company’s stock valued at $492,786,000 after acquiring an additional 438,201 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of AbbVie by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,824,617 shares of the company’s stock valued at $447,001,000 after acquiring an additional 157,594 shares during the last quarter. Finally, Aristotle Capital Management LLC raised its stake in shares of AbbVie by 0.9% in the first quarter. Aristotle Capital Management LLC now owns 3,787,873 shares of the company’s stock valued at $358,522,000 after acquiring an additional 34,727 shares during the last quarter. Hedge funds and other institutional investors own 69.47% of the company’s stock.
Shares of AbbVie stock opened at $91.53 on Monday. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.20 and a quick ratio of 1.08. The company has a market capitalization of $137.68 billion, a P/E ratio of 16.34, a P/E/G ratio of 0.85 and a beta of 1.62. AbbVie Inc has a fifty-two week low of $77.50 and a fifty-two week high of $125.86.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Tuesday, January 15th will be issued a $1.07 dividend. The ex-dividend date is Monday, January 14th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.68%. This is a positive change from AbbVie’s previous quarterly dividend of $0.96. AbbVie’s dividend payout ratio (DPR) is currently 68.57%.
A number of research analysts have recently issued reports on the stock. ValuEngine upgraded shares of AbbVie from a “sell” rating to a “hold” rating in a research note on Monday, November 12th. Argus cut their target price on shares of AbbVie from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, November 6th. BMO Capital Markets cut their target price on shares of AbbVie from $78.00 to $71.00 and set an “underperform” rating for the company in a research note on Monday, November 5th. Barclays reiterated a “hold” rating and issued a $90.00 target price on shares of AbbVie in a research note on Sunday, November 4th. Finally, Credit Suisse Group set a $85.00 target price on shares of AbbVie and gave the company a “hold” rating in a research note on Friday, November 2nd. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $103.68.
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AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.
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