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Teamwork Financial Advisors LLC Has $2.47 Million Holdings in AbbVie Inc. (NYSE:ABBV)

AbbVie logoTeamwork Financial Advisors LLC lessened its stake in AbbVie Inc. (NYSE:ABBV) by 20.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,152 shares of the company’s stock after selling 7,273 shares during the quarter. AbbVie comprises 0.8% of Teamwork Financial Advisors LLC’s investment portfolio, making the stock its 16th biggest position. Teamwork Financial Advisors LLC’s holdings in AbbVie were worth $2,466,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ABBV. BlackRock Inc. raised its stake in AbbVie by 21.7% in the second quarter. BlackRock Inc. now owns 123,356,424 shares of the company’s stock valued at $12,111,133,000 after purchasing an additional 21,974,440 shares in the last quarter. Vanguard Group Inc. raised its stake in AbbVie by 17.3% during the second quarter. Vanguard Group Inc. now owns 147,386,808 shares of the company’s stock worth $14,470,438,000 after acquiring an additional 21,786,239 shares in the last quarter. Nuveen Asset Management LLC raised its stake in AbbVie by 46.4% during the second quarter. Nuveen Asset Management LLC now owns 22,124,489 shares of the company’s stock worth $2,172,182,000 after acquiring an additional 7,007,887 shares in the last quarter. Nordea Investment Management AB raised its stake in AbbVie by 148.1% during the second quarter. Nordea Investment Management AB now owns 5,964,626 shares of the company’s stock worth $573,976,000 after acquiring an additional 3,560,895 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in AbbVie by 15.0% during the second quarter. Bank of New York Mellon Corp now owns 21,387,563 shares of the company’s stock worth $2,099,832,000 after acquiring an additional 2,797,448 shares in the last quarter. 68.23% of the stock is owned by institutional investors and hedge funds.

ABBV has been the subject of several research analyst reports. Morgan Stanley boosted their target price on AbbVie from $95.00 to $108.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. Berenberg Bank initiated coverage on AbbVie in a research note on Tuesday, September 29th. They set a “hold” rating and a $98.00 target price for the company. Royal Bank of Canada boosted their target price on AbbVie from $125.00 to $127.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Citigroup boosted their price target on AbbVie from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. boosted their price target on AbbVie from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. AbbVie has a consensus rating of “Buy” and a consensus price target of $108.63.

Shares of ABBV stock opened at $86.27 on Friday. The business’s 50 day simple moving average is $89.38 and its 200 day simple moving average is $90.44. AbbVie Inc. has a one year low of $62.55 and a one year high of $101.28. The stock has a market capitalization of $152.25 billion, a PE ratio of 18.36, a PEG ratio of 1.42 and a beta of 0.74. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.86 and a quick ratio of 0.70.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 31st. The company reported $2.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.14. AbbVie had a negative return on equity of 628.57% and a net margin of 19.20%. The business had revenue of $10.43 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the prior year, the business posted $2.26 earnings per share. The firm’s revenue was up 26.3% on a year-over-year basis. As a group, research analysts expect that AbbVie Inc. will post 10.44 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be issued a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date is Wednesday, October 14th. AbbVie’s payout ratio is 52.80%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet’s diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström’s macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

Further Reading: What is an investor looking for in an SEC filing?

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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