Whittier Trust Co. of Nevada Inc. Acquires 4,211 Shares of AbbVie Inc. $ABBV

Whittier Trust Co. of Nevada Inc. grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 4.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,257 shares of the company’s stock after purchasing an additional 4,211 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in AbbVie were worth $22,376,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ABBV. Brighton Jones LLC grew its stake in AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after acquiring an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after acquiring an additional 3,064 shares in the last quarter. Schnieders Capital Management LLC. boosted its holdings in shares of AbbVie by 5.0% in the second quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock valued at $3,056,000 after purchasing an additional 789 shares during the period. Ieq Capital LLC grew its stake in AbbVie by 4.6% in the second quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock worth $22,281,000 after purchasing an additional 5,274 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC grew its stake in AbbVie by 117.3% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock worth $210,685,000 after purchasing an additional 612,702 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Down 0.1%

ABBV opened at $260.88 on Monday. The firm has a market cap of $460.92 billion, a price-to-earnings ratio of 128.51, a PEG ratio of 0.86 and a beta of 0.30. AbbVie Inc. has a 12 month low of $184.63 and a 12 month high of $261.64. The stock has a fifty day moving average price of $220.19 and a 200-day moving average price of $220.25.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter last year, the company earned $2.46 earnings per share. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities research analysts forecast that AbbVie Inc. will post 14.28 EPS for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be issued a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Wednesday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 340.89%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ABBV. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Bank of America upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price target on the stock in a research note on Thursday, April 30th. Guggenheim restated a “buy” rating and issued a $249.00 price objective on shares of AbbVie in a report on Friday, May 1st. DZ Bank raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of AbbVie in a report on Monday, June 8th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $253.81.

AbbVie Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.