Trade Report: Today, Catawba Capital Management VA Boosts Stake in AbbVie Inc. (ABBV)

Today, Catawba Capital Management VA Boosts Stake in AbbVie Inc. (ABBV)

Catawba Capital Management VA boosted its position in AbbVie Inc. (NYSE:ABBV) by 1.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,577 shares of the company’s stock after buying an additional 535 shares during the period. Catawba Capital Management VA’s holdings in AbbVie were worth $2,559,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ABBV. Stokes & Hubbell Capital Management LLC boosted its stake in AbbVie by 0.4% in the third quarter. Stokes & Hubbell Capital Management LLC now owns 34,888 shares of the company’s stock valued at $2,200,000 after buying an additional 127 shares during the period. Pure Financial Advisors Inc. boosted its stake in AbbVie by 0.7% in the third quarter. Pure Financial Advisors Inc. now owns 10,622 shares of the company’s stock valued at $670,000 after buying an additional 76 shares during the period. Bremer Trust National Association boosted its stake in AbbVie by 8.3% in the third quarter. Bremer Trust National Association now owns 15,706 shares of the company’s stock valued at $990,000 after buying an additional 1,209 shares during the period. First American Bank boosted its stake in AbbVie by 3.3% in the third quarter. First American Bank now owns 209,559 shares of the company’s stock valued at $13,217,000 after buying an additional 6,674 shares during the period. Finally, Independence Advisors LLC boosted its stake in AbbVie by 33.4% in the third quarter. Independence Advisors LLC now owns 6,685 shares of the company’s stock valued at $422,000 after buying an additional 1,672 shares during the period. 66.67% of the stock is owned by hedge funds and other institutional investors.

Shares of AbbVie Inc. (NYSE:ABBV) traded down 1.74% on Monday, reaching $59.46. 6,274,639 shares of the company’s stock were exchanged. AbbVie Inc. has a one year low of $50.71 and a one year high of $68.12. The firm has a 50 day moving average of $60.51 and a 200 day moving average of $62.73. The firm has a market capitalization of $96.63 billion, a P/E ratio of 16.07 and a beta of 1.55.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, October 28th. The company reported $1.21 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 analyst estimates of $6.55 billion. During the same quarter last year, the firm posted $1.13 earnings per share. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities research analysts predict that AbbVie Inc. will post $4.82 EPS for the current year.

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

Several equities research analysts have issued reports on the stock. Jefferies Group reissued a “buy” rating on shares of AbbVie in a research report on Thursday, August 25th. JPMorgan Chase & Co. cut shares of AbbVie from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $75.00 to $73.00 in a research report on Thursday, September 8th. They noted that the move was a valuation call. Raymond James Financial Inc. assumed coverage on shares of AbbVie in a research report on Thursday, September 1st. They issued an “outperform” rating and a $82.00 price objective for the company. Goldman Sachs Group Inc. restated a “buy” rating and issued a $78.00 price target on shares of AbbVie in a report on Thursday, September 8th. Finally, Argus restated a “buy” rating and issued a $85.00 price target on shares of AbbVie in a report on Monday, August 8th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $69.82.

In other news, insider Laura J. Schumacher sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 144,138 shares of the company’s stock, valued at $9,368,970. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.11% of the stock is currently owned by insiders.

About AbbVie

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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