Barton Investment Management Continues to Hold Stake in AbbVie Inc. (ABBV)

Barton Investment Management held its stake in shares of AbbVie Inc. (NYSE:ABBV) during the first quarter, Holdings Channel reports. The firm owned 9,828 shares of the company’s stock at the end of the first quarter. AbbVie comprises 0.2% of Barton Investment Management’s investment portfolio, making the stock its 27th largest position. Barton Investment Management’s holdings in AbbVie were worth $640,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ABBV. State Street Corp raised its position in AbbVie by 4.0% in the fourth quarter. State Street Corp now owns 71,273,488 shares of the company’s stock valued at $4,463,150,000 after buying an additional 2,763,770 shares in the last quarter. Federated Investors Inc. PA raised its position in AbbVie by 0.6% in the fourth quarter. Federated Investors Inc. PA now owns 15,058,050 shares of the company’s stock valued at $942,935,000 after buying an additional 94,872 shares in the last quarter. Norges Bank purchased a new position in AbbVie during the fourth quarter valued at approximately $823,984,000. Glenview Capital Management LLC purchased a new position in AbbVie during the fourth quarter valued at approximately $570,905,000. Finally, Prudential PLC raised its position in AbbVie by 12.6% in the fourth quarter. Prudential PLC now owns 7,011,026 shares of the company’s stock valued at $439,030,000 after buying an additional 786,487 shares in the last quarter. Institutional investors and hedge funds own 68.02% of the company’s stock.

AbbVie Inc. (NYSE ABBV) opened at 72.74 on Tuesday. The stock has a 50 day moving average of $67.41 and a 200-day moving average of $64.18. The firm has a market cap of $115.77 billion, a P/E ratio of 18.85 and a beta of 1.52. AbbVie Inc. has a 12 month low of $55.06 and a 12 month high of $72.94.

AbbVie (NYSE:ABBV) last released its earnings results on Thursday, April 27th. The company reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.02. The firm had revenue of $6.54 billion for the quarter, compared to the consensus estimate of $6.49 billion. AbbVie had a return on equity of 148.83% and a net margin of 24.07%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 EPS. Equities research analysts predict that AbbVie Inc. will post $5.53 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend is Wednesday, July 12th. AbbVie’s dividend payout ratio is currently 66.32%.

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ABBV has been the topic of several recent analyst reports. Vetr raised shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $74.38 target price on the stock in a report on Monday, May 8th. BMO Capital Markets set a $63.00 target price on shares of AbbVie and gave the company a “hold” rating in a report on Thursday, April 27th. BidaskClub raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 10th. Societe Generale raised shares of AbbVie from a “sell” rating to a “hold” rating in a report on Wednesday, March 22nd. Finally, Leerink Swann reaffirmed a “market perform” rating on shares of AbbVie in a report on Thursday, June 22nd. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. AbbVie presently has a consensus rating of “Buy” and a consensus target price of $73.27.

In other AbbVie news, EVP Carlos Alban sold 45,800 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $70.00, for a total value of $3,206,000.00. Following the transaction, the executive vice president now owns 160,545 shares of the company’s stock, valued at approximately $11,238,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William J. Chase sold 38,300 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $65.35, for a total value of $2,502,905.00. Following the completion of the transaction, the chief financial officer now directly owns 209,043 shares in the company, valued at approximately $13,660,960.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 278,135 shares of company stock worth $18,841,085. Corporate insiders own 0.23% of the company’s stock.

About AbbVie

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. 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 virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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