Oregon Public Employees Retirement Fund decreased its position in AbbVie Inc (NYSE:ABBV) by 3.8% in the 3rd quarter, Holdings Channel reports. The firm owned 338,800 shares of the company’s stock after selling 13,284 shares during the period. Oregon Public Employees Retirement Fund’s holdings in AbbVie were worth $32,044,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC bought a new position in shares of AbbVie in the third quarter valued at approximately $112,000. Mainstay Capital Management LLC ADV boosted its holdings in shares of AbbVie by 6,123.5% in the second quarter. Mainstay Capital Management LLC ADV now owns 12,447 shares of the company’s stock valued at $143,000 after acquiring an additional 12,247 shares in the last quarter. First Mercantile Trust Co. bought a new position in shares of AbbVie in the second quarter valued at approximately $150,000. MUFG Securities EMEA plc bought a new position in shares of AbbVie in the second quarter valued at approximately $157,000. Finally, Kiley Juergens Wealth Management LLC boosted its holdings in shares of AbbVie by 69.3% in the third quarter. Kiley Juergens Wealth Management LLC now owns 1,761 shares of the company’s stock valued at $166,000 after acquiring an additional 721 shares in the last quarter. Hedge funds and other institutional investors own 69.85% of the company’s stock.
ABBV stock opened at $86.96 on Friday. AbbVie Inc has a 12 month low of $77.50 and a 12 month high of $125.86. The company has a market cap of $135.88 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 0.84 and a beta of 1.68. The company has a quick ratio of 1.08, a current ratio of 1.20 and a debt-to-equity ratio of 8.70.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, November 2nd. The company reported $2.14 EPS for the quarter, beating the consensus estimate of $2.01 by $0.13. AbbVie had a net margin of 23.50% and a return on equity of 2,006.63%. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period in the prior year, the business earned $1.41 earnings per share. The business’s quarterly revenue was up 17.7% on a year-over-year basis. Equities analysts predict that AbbVie Inc will post 7.93 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Tuesday, January 15th will be paid a dividend of $1.07 per share. The ex-dividend date is Monday, January 14th. This is a positive change from AbbVie’s previous quarterly dividend of $0.96. This represents a $4.28 annualized dividend and a yield of 4.92%. AbbVie’s dividend payout ratio is currently 68.57%.
Several research firms have recently issued reports on ABBV. BMO Capital Markets decreased their price objective on shares of AbbVie from $78.00 to $71.00 and set an “underperform” rating for the company in a report on Monday, November 5th. Credit Suisse Group set a $85.00 price objective on shares of AbbVie and gave the company a “hold” rating in a report on Friday, November 2nd. ValuEngine upgraded shares of AbbVie from a “sell” rating to a “hold” rating in a report on Monday, November 12th. Bank of America increased their price objective on shares of AbbVie from $105.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, August 22nd. Finally, Argus decreased their price objective on shares of AbbVie from $130.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, November 6th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $103.68.
In related news, EVP Henry O. Gosebruch sold 42,450 shares of the company’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $90.10, for a total value of $3,824,745.00. Following the completion of the sale, the executive vice president now owns 30,350 shares in the company, valued at approximately $2,734,535. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Laura J. Schumacher sold 94,140 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $93.58, for a total transaction of $8,809,621.20. Following the completion of the sale, the insider now owns 192,398 shares of the company’s stock, valued at approximately $18,004,604.84. The disclosure for this sale can be found here. 0.07% of the stock is owned by corporate insiders.
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, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.
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