Brandywine Global Investment Management LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 13.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,145,929 shares of the company’s stock after selling 327,115 shares during the quarter. AbbVie comprises approximately 1.0% of Brandywine Global Investment Management LLC’s holdings, making the stock its 20th largest position. Brandywine Global Investment Management LLC owned about 0.13% of AbbVie worth $155,602,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acropolis Investment Management LLC acquired a new position in shares of AbbVie during the 2nd quarter worth about $106,000. Ffcm LLC lifted its position in shares of AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after purchasing an additional 963 shares during the last quarter. Hudock Capital Group LLC lifted its position in shares of AbbVie by 109.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after purchasing an additional 806 shares during the last quarter. BDO Wealth Advisors LLC acquired a new position in shares of AbbVie during the 2nd quarter worth about $115,000. Finally, Franklin Parlapiano Turner & Welch LLC acquired a new position in shares of AbbVie during the 1st quarter worth about $108,000. Institutional investors own 69.32% of the company’s stock.
Several equities analysts have commented on the company. BidaskClub raised AbbVie from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Evercore ISI reaffirmed an “outperform” rating and issued a $100.00 price target (up previously from $95.00) on shares of AbbVie in a report on Saturday, September 30th. Societe Generale upped their price target on AbbVie in a report on Tuesday, November 21st. Barclays reaffirmed a “hold” rating and issued a $68.00 price target on shares of AbbVie in a report on Thursday, September 28th. Finally, ValuEngine cut AbbVie from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $97.96.
AbbVie Inc. (ABBV) opened at $95.95 on Friday. The stock has a market capitalization of $150,447.55, a P/E ratio of 17.75, a PEG ratio of 1.31 and a beta of 1.52. AbbVie Inc. has a twelve month low of $59.27 and a twelve month high of $98.52. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.02. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. AbbVie’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.21 EPS. research analysts predict that AbbVie Inc. will post 5.55 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a yield of 2.96%. AbbVie’s dividend payout ratio is 62.29%.
In other AbbVie news, VP Robert A. Michael sold 6,699 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $88.00, for a total value of $589,512.00. Following the transaction, the vice president now directly owns 10,007 shares in the company, valued at approximately $880,616. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Severino sold 25,633 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $94.69, for a total value of $2,427,188.77. Following the completion of the transaction, the executive vice president now owns 114,922 shares in the company, valued at $10,881,964.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 277,125 shares of company stock worth $25,891,756. 0.23% of the stock is owned by corporate insiders.
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AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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