Lincoln Capital Corp Cuts Position in AbbVie Inc (NYSE:ABBV)

Lincoln Capital Corp trimmed its holdings in shares of AbbVie Inc (NYSE:ABBV) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,174 shares of the company’s stock after selling 168 shares during the quarter. Lincoln Capital Corp’s holdings in AbbVie were worth $543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Arbor Wealth Management LLC acquired a new stake in AbbVie during the 2nd quarter worth about $28,000. Lowe Wealth Advisors LLC lifted its holdings in shares of AbbVie by 206.7% in the 2nd quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock valued at $33,000 after buying an additional 310 shares during the period. Horrell Capital Management Inc. acquired a new position in shares of AbbVie in the 2nd quarter valued at about $33,000. TD Capital Management LLC acquired a new position in shares of AbbVie in the 2nd quarter valued at about $33,000. Finally, Financial Gravity Wealth Inc. lifted its holdings in shares of AbbVie by 82.9% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 503 shares of the company’s stock valued at $37,000 after buying an additional 228 shares during the period. Hedge funds and other institutional investors own 68.38% of the company’s stock.

NYSE:ABBV traded up $3.20 during trading hours on Friday, hitting $85.21. 11,307,381 shares of the stock were exchanged, compared to its average volume of 7,972,123. AbbVie Inc has a 52-week low of $62.66 and a 52-week high of $94.98. The firm’s fifty day moving average price is $76.28 and its 200 day moving average price is $73.49. The company has a market cap of $121.00 billion, a P/E ratio of 10.77, a P/E/G ratio of 2.04 and a beta of 0.98.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, November 1st. The company reported $2.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.04. AbbVie had a negative return on equity of 155.71% and a net margin of 9.90%. The company had revenue of $8.48 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same period in the previous year, the business earned $2.14 EPS. AbbVie’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, sell-side analysts expect that AbbVie Inc will post 8.93 earnings per share for the current fiscal year.

The company also recently disclosed a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a yield of 6.4%. AbbVie’s dividend payout ratio (DPR) is currently 54.11%.

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Several equities analysts have recently issued reports on the company. UBS Group raised AbbVie from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $85.00 to $79.00 in a report on Thursday, September 12th. Citigroup raised AbbVie from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $87.00 to $90.00 in a report on Thursday, September 26th. ValuEngine raised AbbVie from a “strong sell” rating to a “sell” rating in a report on Monday, September 30th. Piper Jaffray Companies boosted their price objective on AbbVie from $81.00 to $90.00 in a report on Friday, November 1st. Finally, Cowen set a $90.00 price objective on AbbVie and gave the company a “buy” rating in a report on Tuesday, September 24th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. AbbVie has a consensus rating of “Hold” and a consensus price target of $84.88.

In related news, SVP Jeffrey Ryan Stewart purchased 15,552 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was acquired at an average cost of $64.44 per share, for a total transaction of $1,002,170.88. Following the completion of the transaction, the senior vice president now directly owns 65,304 shares of the company’s stock, valued at $4,208,189.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Istar Inc. purchased 40,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $28.52 per share, with a total value of $1,140,800.00. Over the last quarter, insiders have acquired 88,077 shares of company stock valued at $4,401,551. 0.08% of the stock is owned by company insiders.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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