Buckley Wealth Management LLC Takes $693,000 Position in AbbVie Inc. (ABBV)

Buckley Wealth Management LLC bought a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 7,170 shares of the company’s stock, valued at approximately $693,000.

A number of other institutional investors and hedge funds have also modified their holdings of ABBV. Capital Research Global Investors boosted its holdings in shares of AbbVie by 1.2% in the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock worth $12,926,708,000 after purchasing an additional 2,130,919 shares during the period. Vanguard Group Inc. boosted its holdings in shares of AbbVie by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after purchasing an additional 3,706,941 shares during the period. BlackRock Inc. boosted its holdings in shares of AbbVie by 2.0% in the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock worth $6,821,375,000 after purchasing an additional 1,864,418 shares during the period. Orbis Allan Gray Ltd boosted its holdings in shares of AbbVie by 35.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after purchasing an additional 3,340,038 shares during the period. Finally, Woodford Investment Management Ltd boosted its holdings in shares of AbbVie by 8.6% in the 2nd quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock worth $859,589,000 after purchasing an additional 937,500 shares during the period. 70.57% of the stock is currently owned by institutional investors.

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A number of equities analysts have recently commented on ABBV shares. SunTrust Banks lifted their target price on AbbVie to $157.00 and gave the stock an “average” rating in a report on Monday, January 29th. Jefferies Group lifted their target price on AbbVie from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. Piper Jaffray reiterated a “buy” rating on shares of AbbVie in a report on Tuesday, January 2nd. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a report on Tuesday, January 2nd. Finally, Vetr cut AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 price objective for the company. in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $117.85.

Shares of ABBV stock opened at $92.60 on Tuesday. AbbVie Inc. has a twelve month low of $63.12 and a twelve month high of $125.86. The firm has a market capitalization of $145,823.56, a price-to-earnings ratio of 16.54, a PEG ratio of 0.87 and a beta of 1.61. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.28 and a quick ratio of 1.18.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.04. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The business had revenue of $7.74 billion during the quarter, compared to analysts’ expectations of $7.53 billion. During the same period in the prior year, the business earned $1.20 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. equities analysts forecast that AbbVie Inc. will post 7.53 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 4.15%. This is a boost from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, April 12th. AbbVie’s dividend payout ratio is currently 68.57%.

AbbVie declared that its board has approved a stock buyback program on Thursday, February 15th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

In other AbbVie news, VP Robert A. Michael sold 992 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $120.31, for a total value of $119,347.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert A. Michael sold 4,294 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $119.43, for a total value of $512,832.42. Following the completion of the sale, the vice president now owns 11,170 shares of the company’s stock, valued at $1,334,033.10. The disclosure for this sale can be found here. Insiders sold a total of 211,197 shares of company stock valued at $24,585,575 over the last quarter. Company insiders own 0.07% of the company’s stock.

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About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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