Raymond James Trust N.A. Increases Stake in AbbVie Inc. (NYSE:ABBV)


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Raymond James Trust N.A. lifted its stake in AbbVie Inc. (NYSE:ABBV) by 2.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,230 shares of the company’s stock after purchasing an additional 4,580 shares during the period. Raymond James Trust N.A.’s holdings in AbbVie were worth $18,240,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ABBV. Sound Income Strategies LLC increased its position in AbbVie by 27.2% in the fourth quarter. Sound Income Strategies LLC now owns 42,967 shares of the company’s stock worth $4,604,000 after buying an additional 9,185 shares in the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC increased its holdings in AbbVie by 23.1% in the 3rd quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 10,472 shares of the company’s stock worth $1,028,000 after acquiring an additional 1,967 shares in the last quarter. Bfsg LLC increased its stake in shares of AbbVie by 1.3% in the third quarter. Bfsg LLC now owns 25,866 shares of the company’s stock worth $2,266,000 after purchasing an additional 322 shares in the last quarter. Foundations Investment Advisors LLC increased its stake in shares of AbbVie by 11.7% in the fourth quarter. Foundations Investment Advisors LLC now owns 6,230 shares of the company’s stock worth $668,000 after purchasing an additional 652 shares in the last quarter. Finally, Founders Capital Management purchased a new stake in shares of AbbVie in the fourth quarter worth $4,736,000. Hedge funds and other institutional investors own 67.49% of the company’s stock.

In related news, EVP Jeffrey Ryan Stewart sold 25,290 shares of the company’s stock in a transaction dated Tuesday, December 29th. The shares were sold at an average price of $105.00, for a total value of $2,655,450.00. Following the completion of the sale, the executive vice president now directly owns 76,259 shares of the company’s stock, valued at $8,007,195. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy J. Richmond sold 51,990 shares of the company’s stock in a transaction dated Friday, November 27th. The stock was sold at an average price of $105.00, for a total transaction of $5,458,950.00. Following the completion of the sale, the executive vice president now directly owns 51,990 shares of the company’s stock, valued at $5,458,950. The disclosure for this sale can be found here. Insiders sold 308,884 shares of company stock valued at $30,552,196 in the last quarter. 0.09% of the stock is owned by company insiders.

A number of equities research analysts have issued reports on the company. Morgan Stanley increased their price target on AbbVie from $108.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, November 30th. BidaskClub raised shares of AbbVie from a “strong sell” rating to a “sell” rating in a report on Friday, January 1st. Berenberg Bank assumed coverage on shares of AbbVie in a report on Tuesday, September 29th. They set a “hold” rating and a $98.00 price objective for the company. SVB Leerink raised their target price on shares of AbbVie from $119.00 to $128.00 and gave the company an “outperform” rating in a research note on Wednesday, December 16th. Finally, JPMorgan Chase & Co. raised their price objective on AbbVie from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, October 16th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $112.50.

Shares of ABBV opened at $112.45 on Thursday. The firm has a market capitalization of $198.53 billion, a P/E ratio of 23.77, a P/E/G ratio of 1.49 and a beta of 0.84. AbbVie Inc. has a 12-month low of $62.55 and a 12-month high of $113.41. The company has a current ratio of 0.95, a quick ratio of 0.81 and a debt-to-equity ratio of 5.38. The firm has a fifty day moving average price of $105.61 and a 200-day moving average price of $96.04.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, October 30th. The company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.08. The company had revenue of $12.88 billion during the quarter, compared to analysts’ expectations of $12.71 billion. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. The firm’s quarterly revenue was up 51.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.33 EPS. Analysts predict that AbbVie Inc. will post 10.48 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 16th. Investors of record on Friday, January 15th will be issued a $1.30 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.18. The ex-dividend date of this dividend is Thursday, January 14th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.62%. AbbVie’s payout ratio is presently 52.80%.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, 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; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; 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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