AbbVie Inc (ABBV) Holdings Cut by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in AbbVie Inc (NYSE:ABBV) by 14.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 362,286 shares of the company’s stock after selling 58,882 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AbbVie were worth $33,399,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. lifted its holdings in shares of AbbVie by 61.0% during the 3rd quarter. Johnson Financial Group Inc. now owns 37,592 shares of the company’s stock valued at $3,555,000 after purchasing an additional 14,242 shares in the last quarter. Coastline Trust Co increased its holdings in shares of AbbVie by 1.0% during the 4th quarter. Coastline Trust Co now owns 21,251 shares of the company’s stock worth $1,959,000 after acquiring an additional 201 shares during the last quarter. Accident Compensation Corp increased its holdings in shares of AbbVie by 13.0% during the 3rd quarter. Accident Compensation Corp now owns 65,192 shares of the company’s stock worth $6,166,000 after acquiring an additional 7,492 shares during the last quarter. Veritable L.P. increased its holdings in shares of AbbVie by 3.5% during the 3rd quarter. Veritable L.P. now owns 114,835 shares of the company’s stock worth $10,861,000 after acquiring an additional 3,934 shares during the last quarter. Finally, Riverhead Capital Management LLC increased its holdings in shares of AbbVie by 24.2% during the 3rd quarter. Riverhead Capital Management LLC now owns 146,021 shares of the company’s stock worth $13,811,000 after acquiring an additional 28,410 shares during the last quarter. Hedge funds and other institutional investors own 69.92% of the company’s stock.

Get AbbVie alerts:

Shares of ABBV opened at $80.61 on Monday. The company has a market cap of $120.37 billion, a P/E ratio of 10.19, a price-to-earnings-growth ratio of 1.21 and a beta of 1.17. AbbVie Inc has a 12 month low of $75.77 and a 12 month high of $121.45.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 25th. The company reported $1.90 EPS for the quarter, missing the Zacks’ consensus estimate of $1.92 by ($0.02). The business had revenue of $8.31 billion for the quarter, compared to analysts’ expectations of $8.37 billion. AbbVie had a net margin of 17.36% and a negative return on equity of 1,343.27%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.48 earnings per share. As a group, research analysts anticipate that AbbVie Inc will post 8.68 EPS for the current fiscal year.

AbbVie announced that its board has initiated a share buyback program on Thursday, December 13th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to purchase up to 3.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is 54.11%.

In other AbbVie news, Vice Chairman Laura J. Schumacher sold 25,000 shares of the firm’s stock in a transaction on Friday, December 28th. The stock was sold at an average price of $90.00, for a total value of $2,250,000.00. Following the completion of the sale, the insider now directly owns 134,322 shares of the company’s stock, valued at $12,088,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Laura J. Schumacher sold 94,140 shares of the firm’s stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $93.58, for a total value of $8,809,621.20. Following the completion of the sale, the insider now directly owns 192,398 shares of the company’s stock, valued at $18,004,604.84. The disclosure for this sale can be found here. Insiders have sold 220,990 shares of company stock valued at $20,205,059 over the last ninety days. 0.07% of the stock is currently owned by company insiders.

A number of research analysts recently weighed in on ABBV shares. Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. Bank of America downgraded AbbVie from a “buy” rating to a “neutral” rating in a research note on Thursday, January 3rd. Morgan Stanley set a $88.00 price target on AbbVie and gave the company a “hold” rating in a research note on Thursday, December 20th. Credit Suisse Group set a $79.00 price target on AbbVie and gave the company a “hold” rating in a research note on Friday, January 25th. Finally, ValuEngine downgraded AbbVie from a “sell” rating to a “strong sell” rating in a research note on Friday, February 22nd. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. AbbVie currently has a consensus rating of “Hold” and a consensus price target of $96.60.

TRADEMARK VIOLATION NOTICE: This piece was posted by Ticker Report and is owned by of Ticker Report. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of international trademark and copyright law. The correct version of this piece can be accessed at https://www.tickerreport.com/banking-finance/4196760/abbvie-inc-abbv-holdings-cut-by-zurcher-kantonalbank-zurich-cantonalbank.html.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C.

Read More: New Google Finance Tool and Screening Stocks

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc (NYSE:ABBV).