Gyroscope Capital Management Group LLC lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 21.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 19,603 shares of the company’s stock after selling 5,371 shares during the period. Gyroscope Capital Management Group LLC’s holdings in AbbVie were worth $1,717,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in AbbVie by 21.7% in the second quarter. BlackRock Inc. now owns 123,356,424 shares of the company’s stock worth $12,111,133,000 after purchasing an additional 21,974,440 shares during the period. Vanguard Group Inc. grew its holdings in AbbVie by 17.3% in the second quarter. Vanguard Group Inc. now owns 147,386,808 shares of the company’s stock worth $14,470,438,000 after purchasing an additional 21,786,239 shares during the period. Nuveen Asset Management LLC grew its holdings in AbbVie by 46.4% in the second quarter. Nuveen Asset Management LLC now owns 22,124,489 shares of the company’s stock worth $2,172,182,000 after purchasing an additional 7,007,887 shares during the period. Nordea Investment Management AB grew its holdings in AbbVie by 148.1% in the second quarter. Nordea Investment Management AB now owns 5,964,626 shares of the company’s stock worth $573,976,000 after purchasing an additional 3,560,895 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of 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 valued at $2,099,832,000 after buying an additional 2,797,448 shares during the last quarter. Institutional investors own 68.23% of the company’s stock.
Shares of ABBV stock opened at $86.27 on Friday. The firm has a market cap of $152.25 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 1.42 and a beta of 0.74. The company has a debt-to-equity ratio of 5.57, a quick ratio of 0.70 and a current ratio of 0.86. AbbVie Inc. has a 52 week low of $62.55 and a 52 week high of $101.28. The firm’s 50-day simple moving average is $89.38 and its two-hundred day simple moving average is $90.44.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 31st. The company reported $2.34 EPS for the quarter, topping the consensus estimate of $2.20 by $0.14. The business had revenue of $10.43 billion for the quarter, compared to analyst estimates of $10.14 billion. AbbVie had a net margin of 19.20% and a negative return on equity of 628.57%. The company’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.26 earnings per share. Analysts forecast that AbbVie Inc. will post 10.44 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be given a $1.18 dividend. This represents a $4.72 annualized dividend and a yield of 5.47%. The ex-dividend date is Wednesday, October 14th. AbbVie’s dividend payout ratio is 52.80%.
A number of brokerages have recently issued reports on ABBV. Mizuho reiterated a “buy” rating and set a $111.00 price objective on shares of AbbVie in a report on Sunday, September 27th. Morgan Stanley lifted their price objective on shares of AbbVie from $95.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, August 20th. Berenberg Bank began coverage on shares of AbbVie in a report on Tuesday, September 29th. They set a “hold” rating and a $98.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of AbbVie from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Friday. Finally, Citigroup lifted their price objective on shares of AbbVie from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. AbbVie presently has an average rating of “Buy” and an average price target of $108.63.
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 BehÃ§et'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, waldenstrÃ¶m'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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