Economy

AbbVie Inc. (NYSE:ABBV) Position Lowered by BB&T Securities LLC

AbbVie Inc. (NYSE:ABBV) Position Lowered by BB&T Securities LLC

Analysts on a consensus basis are expecting that the stock will reach $98.33 within the year. This continues to be an interesting story, and we look forward to updating it again soon on AbbVie Inc.

First Light Asset Management LLC purchased a new position in AbbVie Inc (NYSE:ABBV) during the fourth quarter, according to its most recent filing with the SEC. It also reduced its holding in Deere & Co (NYSE:DE) by 4.88 million shares in the quarter, leaving it with 9.58M shares, and cut its stake in Broadcom Ltd. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 178,217 shares of the company's stock valued at $178,000 after buying an additional 175,179 shares during the last quarter. Macnealy Hoover Investment holds 1.41% or 25,507 shares in its portfolio. Penserra Capital Management LLC now owns 1,764 shares of the company's stock valued at $111,000 after buying an additional 882 shares during the last quarter. Finally, Webster Bank N.A. boosted its holdings in AbbVie by 410.6% in the first quarter. Canada Pension Plan Investment Board now owns 3,151,990 shares of the company's stock worth $205,384,000 after purchasing an additional 193,410 shares during the last quarter. It also reduced Patterson Companies (NASDAQ:PDCO) stake by 6,667 shares and now owns 94,310 shares. The stock was sold at an average price of $64.25, for a total transaction of $4,627,028.00. Stratford Consulting LLC now owns 3,959 shares of the company's stock valued at $258,000 after purchasing an additional 29 shares in the last quarter. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4,352,184 shares of the company's stock traded hands, compared to its average volume of 6,200,812. The shares were sold at an average price of $65.29, for a total transaction of $335,068.28. Following the completion of the transaction, the senior vice president now directly owns 93,099 shares of the company's stock, valued at approximately $7,915,276.98. The disclosure for this sale can be found here.

In the past 5 years, the stock showed growth of 16.83% per annum.

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Sit Investment Associates Inc increased Special Opportunities Fund Inc (SPE) stake by 60,920 shares to 436,607 valued at $6.64 million in 2017Q2. "(ABBV)" was published by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this story on another site, it was stolen and republished in violation of USA and worldwide trademark & copyright law.

AbbVie Inc. (NYSE:ABBV) gross margin percentage stands at 76.8% while its operating margin for the past trailing twelve month is 37.2 percent and its overall profit margin (ttm) is 24.4 Percent.

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A number of brokerages have weighed in on ABBV. (The) reissued a "buy" rating and issued a $100.00 target price (up from $85.00) on shares of AbbVie in a research report on Friday, September 8th. BidaskClub lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 25th. Piper Jaffray maintained AbbVie Inc (NYSE:ABBV) on Friday, September 15 with "Buy" rating. Of those analysts, 8 rate stock as a Strong Buy, 6 rate it as Hold, and just no analyst rates it as a Moderate Sell. Finally, BMO Capital Markets reiterated a "hold" rating and issued a $66.00 price objective on shares of AbbVie in a research note on Thursday, September 28th. The recommendation is based on a 1 to 5 scale where 1 or 2 indicates a Buy recommendation, 3 a Hold and 4-5 a Sell. Jefferies has "Buy" rating and $55 target. Toth Financial Advisory Corp who had been investing in Abbvie Inc for a number of months, seems to be bullish on the $151.36B market cap company. (ABBV) opened at $93.60 on Tuesday. If we consider a median price to earnings ratio on the stock, that corresponds with a stock price of 14.61. AbbVie Inc. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. It is down 10.63% since November 21, 2016 and is uptrending. After $0.05 actual earnings per share reported by Clearwater Paper Corp for the previous quarter, Wall Street now forecasts 1,500.00% EPS growth. The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $7 billion.

The company's Average Revenue Estimate for the current quarter is $7.51 Billion, while Low and High Revenue Estimates are $7.3 Billion and $7.63 Billion respectively. Abbvie Inc had 67 analyst reports since July 21, 2015 according to SRatingsIntel.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a $0.71 dividend.

Since May 30, 2017, it had 3 insider buys, and 0 selling transactions for $2.12 million activity. The ex-dividend date of this dividend is Thursday, January 11th. Signature Management invested 0.13% of its portfolio in AbbVie Inc (NYSE:ABBV). AbbVie's dividend payout ratio is now 70.52%.

AbbVie is a global, research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products.