Greenleaf Trust boosted its position in AbbVie Inc (NYSE:ABBV) by 12.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,186 shares of the company’s stock after acquiring an additional 3,970 shares during the period. Greenleaf Trust’s holdings in AbbVie were worth $3,445,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of ABBV. Schwab Charles Investment Management Inc. lifted its stake in AbbVie by 3.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 6,088,016 shares of the company’s stock valued at $576,231,000 after buying an additional 220,125 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in AbbVie by 6.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,954,509 shares of the company’s stock valued at $468,944,000 after buying an additional 281,453 shares during the period. Dimensional Fund Advisors LP lifted its stake in AbbVie by 12.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,667,023 shares of the company’s stock valued at $441,725,000 after buying an additional 522,029 shares during the period. Franklin Resources Inc. lifted its stake in AbbVie by 8.5% in the first quarter. Franklin Resources Inc. now owns 4,359,665 shares of the company’s stock valued at $412,643,000 after buying an additional 340,709 shares during the period. Finally, Aristotle Capital Management LLC lifted its stake in AbbVie by 0.9% in the first quarter. Aristotle Capital Management LLC now owns 3,787,873 shares of the company’s stock valued at $358,522,000 after buying an additional 34,727 shares during the period. Institutional investors and hedge funds own 69.31% of the company’s stock.
NYSE ABBV opened at $94.14 on Friday. The stock has a market cap of $142.01 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 0.90 and a beta of 1.54. The company has a current ratio of 0.80, a quick ratio of 0.71 and a debt-to-equity ratio of -9.06. AbbVie Inc has a one year low of $85.24 and a one year high of $125.86.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 27th. The company reported $2.00 EPS for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.02. The company had revenue of $8.28 billion for the quarter, compared to analyst estimates of $8.22 billion. AbbVie had a return on equity of 362.05% and a net margin of 20.84%. AbbVie’s revenue was up 19.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.42 earnings per share. research analysts anticipate that AbbVie Inc will post 7.86 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be issued a dividend of $0.96 per share. The ex-dividend date of this dividend is Friday, October 12th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.08%. AbbVie’s payout ratio is presently 68.57%.
Several equities analysts have weighed in on ABBV shares. Bank of America cut their target price on AbbVie from $112.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, July 30th. Argus dropped their price target on AbbVie from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, June 11th. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research report on Wednesday, June 27th. Cowen set a $110.00 price target on AbbVie and gave the stock a “buy” rating in a research report on Friday, July 27th. Finally, Jefferies Financial Group set a $100.00 price target on AbbVie and gave the stock a “buy” rating in a research report on Sunday, July 15th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $107.16.
In related news, EVP Michael Severino sold 50,000 shares of the stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the completion of the transaction, the executive vice president now directly owns 111,481 shares in the company, valued at $10,871,627.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.07% of the stock is currently owned by company insiders.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for 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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