AbbVie Inc. (NYSE:ABBV) is Rodgers Brothers Inc.’s 4th Largest Position

Rodgers Brothers Inc. raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 138,373 shares of the company’s stock after buying an additional 2,830 shares during the period. AbbVie comprises approximately 3.1% of Rodgers Brothers Inc.’s holdings, making the stock its 4th largest position. Rodgers Brothers Inc.’s holdings in AbbVie were worth $14,975,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Corundum Group Inc. raised its stake in AbbVie by 2.1% during the 1st quarter. Corundum Group Inc. now owns 4,151 shares of the company’s stock valued at $449,000 after buying an additional 87 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in AbbVie by 24.1% during the 1st quarter. Loomis Sayles & Co. L P now owns 459 shares of the company’s stock valued at $50,000 after buying an additional 89 shares during the last quarter. Howard Financial Services LTD. raised its stake in AbbVie by 2.8% during the 1st quarter. Howard Financial Services LTD. now owns 3,396 shares of the company’s stock valued at $368,000 after buying an additional 91 shares during the last quarter. Old North State Trust LLC raised its stake in AbbVie by 1.5% during the 1st quarter. Old North State Trust LLC now owns 6,415 shares of the company’s stock valued at $694,000 after buying an additional 92 shares during the last quarter. Finally, ICW Investment Advisors LLC increased its stake in shares of AbbVie by 0.4% in the 1st quarter. ICW Investment Advisors LLC now owns 22,739 shares of the company’s stock worth $2,461,000 after purchasing an additional 93 shares in the last quarter. Institutional investors and hedge funds own 65.98% of the company’s stock.

Shares of ABBV traded up $0.40 during midday trading on Thursday, hitting $117.39. 127,622 shares of the company traded hands, compared to its average volume of 5,892,503. The firm has a 50 day simple moving average of $114.98. AbbVie Inc. has a 52 week low of $79.11 and a 52 week high of $118.35. The stock has a market cap of $207.34 billion, a PE ratio of 41.34, a price-to-earnings-growth ratio of 1.74 and a beta of 0.83. The company has a debt-to-equity ratio of 5.40, a quick ratio of 0.73 and a current ratio of 0.83.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, April 29th. The company reported $2.95 EPS for the quarter, beating the consensus estimate of $2.83 by $0.12. AbbVie had a net margin of 10.28% and a return on equity of 136.75%. The business had revenue of $13.01 billion during the quarter, compared to the consensus estimate of $12.84 billion. During the same quarter in the prior year, the firm earned $2.42 EPS. The business’s revenue was up 50.9% on a year-over-year basis. On average, equities analysts anticipate that AbbVie Inc. will post 12.62 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 16th. Shareholders of record on Thursday, July 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.43%. The ex-dividend date is Wednesday, July 14th. AbbVie’s dividend payout ratio (DPR) is presently 49.24%.

In related news, SVP Carrie C. Strom sold 4,184 shares of the stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $112.40, for a total value of $470,281.60. Following the completion of the transaction, the senior vice president now owns 63,409 shares of the company’s stock, valued at approximately $7,127,171.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is owned by corporate insiders.

Several research firms have recently commented on ABBV. Daiwa Capital Markets began coverage on AbbVie in a research note on Friday, July 2nd. They issued an “outperform” rating for the company. Royal Bank of Canada began coverage on AbbVie in a research note on Wednesday, April 7th. They issued a $135.00 price objective for the company. SVB Leerink upped their price objective on AbbVie from $140.00 to $144.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 30th. BMO Capital Markets upped their price objective on AbbVie from $127.00 to $129.00 and gave the stock an “outperform” rating in a research note on Monday, May 3rd. Finally, Mizuho upped their target price on shares of AbbVie from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, May 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company’s stock. AbbVie presently has an average rating of “Buy” and an average price target of $120.25.

AbbVie Company Profile

AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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