Gerber Kawasaki Wealth & Investment Management acquired a new stake in AbbVie Inc (NYSE:ABBV) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,912 shares of the company’s stock, valued at approximately $275,000.
Several other institutional investors also recently made changes to their positions in ABBV. Covington Capital Management grew its stake in shares of AbbVie by 0.8% during the 4th quarter. Covington Capital Management now owns 55,518 shares of the company’s stock worth $5,369,000 after purchasing an additional 449 shares during the period. San Francisco Sentry Investment Group CA grew its stake in shares of AbbVie by 15.3% during the 4th quarter. San Francisco Sentry Investment Group CA now owns 3,386 shares of the company’s stock worth $327,000 after purchasing an additional 450 shares during the period. GHP Investment Advisors Inc. grew its stake in shares of AbbVie by 8.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 5,970 shares of the company’s stock worth $577,000 after purchasing an additional 455 shares during the period. Annex Advisory Services LLC grew its stake in shares of AbbVie by 1.1% during the 4th quarter. Annex Advisory Services LLC now owns 43,287 shares of the company’s stock worth $4,186,000 after purchasing an additional 478 shares during the period. Finally, First Personal Financial Services grew its stake in shares of AbbVie by 2.7% during the 4th quarter. First Personal Financial Services now owns 18,248 shares of the company’s stock worth $1,765,000 after purchasing an additional 488 shares during the period. 69.40% of the stock is owned by hedge funds and other institutional investors.
Get AbbVie alerts:
In other news, SVP Timothy J. Richmond sold 17,588 shares of AbbVie stock in a transaction on Friday, June 15th. The stock was sold at an average price of $99.47, for a total transaction of $1,749,478.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Edward J. Rapp purchased 1,013 shares of AbbVie stock in a transaction dated Wednesday, June 20th. The shares were bought at an average price of $98.63 per share, for a total transaction of $99,912.19. The disclosure for this purchase can be found here. Company insiders own 0.07% of the company’s stock.
Shares of AbbVie opened at $93.49 on Friday, Marketbeat.com reports. The company has a debt-to-equity ratio of 8.70, a quick ratio of 1.10 and a current ratio of 1.20. The firm has a market capitalization of $151.63 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 0.89 and a beta of 1.61. AbbVie Inc has a fifty-two week low of $69.38 and a fifty-two week high of $125.86.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, April 26th. The company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.08. The company had revenue of $7.93 billion for the quarter, compared to analyst estimates of $7.60 billion. AbbVie had a return on equity of 186.47% and a net margin of 21.55%. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 EPS. sell-side analysts expect that AbbVie Inc will post 7.8 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 15th. Shareholders of record on Friday, July 13th will be issued a $0.96 dividend. The ex-dividend date is Thursday, July 12th. This represents a $3.84 dividend on an annualized basis and a yield of 4.11%. AbbVie’s payout ratio is currently 68.57%.
A number of brokerages have recently issued reports on ABBV. Deutsche Bank lowered AbbVie from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $125.86 to $65.61 in a research report on Wednesday, May 30th. Deutsche Bank lowered AbbVie from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $125.86 to $65.61 in a research report on Wednesday, May 30th. Jefferies Financial Group set a $145.00 target price on AbbVie and gave the company a “buy” rating in a research report on Monday, February 26th. Goldman Sachs Group lowered AbbVie from a “conviction-buy” rating to a “buy” rating in a research report on Thursday, May 24th. Finally, Piper Jaffray Companies lowered AbbVie from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $125.86 to $66.62 in a research report on Friday, June 1st. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $106.51.
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.
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc (NYSE:ABBV).