Linscomb & Williams Inc. boosted its position in shares of AbbVie Inc (NASDAQ:ABBV) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,383 shares of the company’s stock after buying an additional 1,491 shares during the period. Linscomb & Williams Inc.’s holdings in AbbVie were worth $2,925,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the stock. Highstreet Asset Management Inc. purchased a new stake in AbbVie during the fourth quarter worth $4,929,000. Schmidt P J Investment Management Inc. increased its stake in shares of AbbVie by 1.0% in the fourth quarter. Schmidt P J Investment Management Inc. now owns 91,942 shares of the company’s stock valued at $5,447,000 after buying an additional 900 shares in the last quarter. Selway Asset Management increased its stake in shares of AbbVie by 27.1% in the fourth quarter. Selway Asset Management now owns 85,400 shares of the company’s stock valued at $5,059,000 after buying an additional 18,200 shares in the last quarter. Hochman Cole Investment Advisors Inc. acquired a new stake in shares of AbbVie during the fourth quarter worth about $2,345,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of AbbVie by 15.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 357,185 shares of the company’s stock worth $21,160,000 after buying an additional 46,540 shares during the last quarter.
Shares of AbbVie Inc (NASDAQ:ABBV) opened at 56.57 on Friday. AbbVie Inc has a 52 week low of $45.45 and a 52 week high of $71.60. The stock has a 50 day moving average of $55.16 and a 200-day moving average of $56.95. The firm has a market capitalization of $91.15 billion and a price-to-earnings ratio of 18.07.
AbbVie (NASDAQ:ABBV) last announced its earnings results on Friday, January 29th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.01. The company had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $6.41 billion. Analysts expect that AbbVie Inc will post $5.02 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, May 16th. Shareholders of record on Friday, April 15th will be given a $0.57 dividend. The ex-dividend date is Wednesday, April 13th. This represents a $2.28 annualized dividend and a yield of 4.03%.
Several equities research analysts have issued reports on the company. Jefferies Group dropped their price objective on AbbVie from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, January 14th. Vetr raised shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $68.33 price target on the stock in a report on Thursday, December 10th. Deutsche Bank began coverage on shares of AbbVie in a research note on Tuesday. They set a “hold” rating and a $63.00 price objective on the stock. Goldman Sachs lowered shares of AbbVie from a “conviction-buy” rating to a “buy” rating and decreased their price objective for the stock from $80.00 to $68.00 in a report on Monday, March 7th. Finally, Zacks Investment Research downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Monday, January 4th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $70.26.
In related news, EVP Laura J. Schumacher sold 25,000 shares of AbbVie stock in a transaction dated Tuesday, March 8th. The stock was sold at an average price of $56.09, for a total transaction of $1,402,250.00. Following the sale, the executive vice president now directly owns 199,238 shares of the company’s stock, valued at $11,175,259.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Timothy J. Richmond sold 12,866 shares of AbbVie stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $55.05, for a total value of $708,273.30. Following the sale, the senior vice president now directly owns 79,064 shares in the company, valued at $4,352,473.20. The disclosure for this sale can be found here.
AbbVie Inc (NASDAQ:ABBV) is a global, research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company’s products are focused on treating conditions, such as chronic autoimmune diseases, including rheumatoid arthritis, psoriasis and Crohn’s disease; hepatitis C (HCV); human immunodeficiency virus (HIV); endometriosis; thyroid disease; Parkinson’s disease; complications associated with chronic kidney disease and cystic fibrosis, and other health conditions, such as low testosterone.