Trading Report: The Bremer Trust National Association Increases Stake in AbbVie Inc. (ABBV)

The Bremer Trust National Association Increases Stake in AbbVie Inc. (ABBV)

Bremer Trust National Association boosted its position in AbbVie Inc. (NYSE:ABBV) by 8.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,706 shares of the company’s stock after buying an additional 1,209 shares during the period. Bremer Trust National Association’s holdings in AbbVie were worth $990,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of ABBV. Acropolis Investment Management LLC acquired a new position in shares of AbbVie during the second quarter worth $106,000. Glassman Wealth Services increased its position in shares of AbbVie by 221.1% in the second quarter. Glassman Wealth Services now owns 1,824 shares of the company’s stock worth $113,000 after buying an additional 1,256 shares in the last quarter. Cypress Capital Management LLC WY acquired a new position in shares of AbbVie during the second quarter worth $114,000. Hartford Financial Management Inc. increased its position in shares of AbbVie by 100.0% in the second quarter. Hartford Financial Management Inc. now owns 1,958 shares of the company’s stock worth $115,000 after buying an additional 979 shares in the last quarter. Finally, Americafirst Capital Management LLC acquired a new position in shares of AbbVie during the second quarter worth $122,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

AbbVie Inc. (NYSE:ABBV) traded up 0.55% during midday trading on Friday, hitting $60.51. The stock had a trading volume of 2,942,309 shares. AbbVie Inc. has a 1-year low of $50.71 and a 1-year high of $68.12. The company has a market cap of $98.33 billion, a price-to-earnings ratio of 16.36 and a beta of 1.55. The company’s 50 day moving average is $60.51 and its 200 day moving average is $62.73.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, October 28th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.01. AbbVie had a net margin of 24.08% and a return on equity of 150.77%. The business earned $6.43 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period last year, the business posted $1.13 EPS. AbbVie’s revenue was up 7.4% on a year-over-year basis. On average, equities analysts anticipate that AbbVie Inc. will post $4.82 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Friday, January 13th will be paid a $0.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $0.57. This represents a $2.56 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend is Wednesday, January 11th. AbbVie’s dividend payout ratio (DPR) is 61.62%.

A number of research analysts have recently weighed in on the company. Barclays PLC reiterated an “equal weight” rating and set a $68.00 price target on shares of AbbVie in a report on Tuesday, August 2nd. Jefferies Group reiterated a “buy” rating on shares of AbbVie in a report on Thursday, August 4th. Argus reiterated a “buy” rating and set a $85.00 price target on shares of AbbVie in a report on Monday, August 8th. JPMorgan Chase & Co. cut AbbVie from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $75.00 to $73.00 in a research report on Thursday, September 8th. They noted that the move was a valuation call. Finally, Goldman Sachs Group Inc. reissued a “buy” rating and set a $78.00 price objective on shares of AbbVie in a research report on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. AbbVie presently has an average rating of “Hold” and a consensus price target of $69.82.

In related news, insider Laura J. Schumacher sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $65.00, for a total value of $3,250,000.00. Following the completion of the sale, the insider now directly owns 144,138 shares in the company, valued at approximately $9,368,970. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is currently owned by corporate insiders.

AbbVie Company Profile

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company operates in pharmaceutical products segment. Its products are focused on treating conditions, such as chronic autoimmune diseases, in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions.

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