QS Investors LLC Acquires 24,287 Shares of AbbVie Inc (ABBV)

QS Investors LLC lifted its holdings in AbbVie Inc (NYSE:ABBV) by 8.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 329,317 shares of the company’s stock after buying an additional 24,287 shares during the quarter. QS Investors LLC’s holdings in AbbVie were worth $23,879,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ABBV. MCF Advisors LLC grew its position in AbbVie by 15.3% during the 1st quarter. MCF Advisors LLC now owns 4,556 shares of the company’s stock valued at $297,000 after purchasing an additional 606 shares during the last quarter. Greatmark Investment Partners Inc. lifted its stake in AbbVie by 1.7% during the 1st quarter. Greatmark Investment Partners Inc. now owns 33,936 shares of the company’s stock valued at $2,211,000 after acquiring an additional 560 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in AbbVie by 33.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 461,768 shares of the company’s stock valued at $30,441,000 after acquiring an additional 115,550 shares during the period. Community Bank N.A. lifted its stake in AbbVie by 1.6% during the 1st quarter. Community Bank N.A. now owns 66,262 shares of the company’s stock valued at $4,317,000 after acquiring an additional 1,015 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its stake in AbbVie by 16.8% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 98,704 shares of the company’s stock valued at $6,432,000 after acquiring an additional 14,194 shares during the period. 69.32% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have issued reports on ABBV shares. BidaskClub upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Evercore ISI restated an “outperform” rating and set a $100.00 target price (up previously from $95.00) on shares of AbbVie in a research note on Saturday, September 30th. Societe Generale upped their target price on shares of AbbVie in a research note on Tuesday, November 21st. Barclays restated a “hold” rating and set a $68.00 target price on shares of AbbVie in a research note on Thursday, September 28th. Finally, ValuEngine cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $97.96.

In related news, Chairman Richard A. Gonzalez sold 218,193 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $94.01, for a total value of $20,512,323.93. Following the completion of the sale, the chairman now directly owns 492,030 shares of the company’s stock, valued at approximately $46,255,740.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert A. Michael sold 6,699 shares of the stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $88.00, for a total transaction of $589,512.00. Following the completion of the sale, the vice president now directly owns 10,007 shares of the company’s stock, valued at $880,616. The disclosure for this sale can be found here. Insiders sold a total of 268,825 shares of company stock worth $25,186,090 in the last quarter. Company insiders own 0.23% of the company’s stock.

AbbVie Inc (ABBV) opened at $95.95 on Monday. AbbVie Inc has a one year low of $59.27 and a one year 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. The firm has a market cap of $153,177.45, a P/E ratio of 18.07, a PEG ratio of 1.33 and a beta of 1.52.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the prior year, the business earned $1.21 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. research analysts expect that AbbVie Inc will post 5.55 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Thursday, January 11th. This is a boost from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio is 62.29%.

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AbbVie Company Profile

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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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