Exane Derivatives reduced its stake in shares of AbbVie Inc (NYSE:ABBV) by 45.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,074 shares of the company’s stock after selling 12,391 shares during the quarter. Exane Derivatives’ holdings in AbbVie were worth $1,345,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of ABBV. BlackRock Inc. grew its position in shares of AbbVie by 3.3% in the second quarter. BlackRock Inc. now owns 98,295,272 shares of the company’s stock valued at $7,148,030,000 after purchasing an additional 3,100,309 shares during the last quarter. State Street Corp grew its position in shares of AbbVie by 2.3% in the third quarter. State Street Corp now owns 68,783,527 shares of the company’s stock valued at $5,208,289,000 after purchasing an additional 1,516,048 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of AbbVie by 0.8% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,817,992 shares of the company’s stock valued at $440,538,000 after purchasing an additional 48,571 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of AbbVie by 81.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 5,176,070 shares of the company’s stock valued at $376,404,000 after purchasing an additional 2,326,510 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in shares of AbbVie by 22.0% in the third quarter. California Public Employees Retirement System now owns 3,566,502 shares of the company’s stock valued at $270,056,000 after purchasing an additional 644,078 shares during the last quarter. Institutional investors own 70.46% of the company’s stock.
Shares of ABBV traded down $0.52 on Wednesday, hitting $87.47. 1,901,713 shares of the stock traded hands, compared to its average volume of 5,726,292. The firm has a market capitalization of $130.14 billion, a P/E ratio of 40.31, a P/E/G ratio of 2.08 and a beta of 0.97. The stock’s 50 day moving average is $88.55 and its two-hundred day moving average is $77.32. AbbVie Inc has a 1 year low of $62.66 and a 1 year high of $91.99.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, November 1st. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.04. The business had revenue of $8.48 billion for the quarter, compared to the consensus estimate of $8.37 billion. AbbVie had a net margin of 9.90% and a negative return on equity of 155.96%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.14 earnings per share. On average, sell-side analysts expect that AbbVie Inc will post 8.95 earnings per share for the current fiscal year.
The company also recently disclosed a — dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.18 per share. This is an increase from AbbVie’s previous — dividend of $1.07. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a dividend yield of 5.93%. AbbVie’s dividend payout ratio is presently 59.67%.
Several analysts have recently commented on ABBV shares. Bank of America lowered shares of AbbVie from a “buy” rating to a “neutral” rating in a research report on Friday, January 3rd. Royal Bank of Canada started coverage on shares of AbbVie in a research report on Monday, January 6th. They issued a “sector perform” rating and a $86.00 price target on the stock. Cowen increased their price target on shares of AbbVie from $90.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, December 26th. ValuEngine upgraded shares of AbbVie from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Finally, Piper Jaffray Companies increased their price target on shares of AbbVie from $81.00 to $90.00 in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $86.33.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, 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; 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.
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