Bremer Trust National Association lifted its holdings in AbbVie Inc (NYSE:ABBV) by 52.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,522 shares of the company’s stock after purchasing an additional 6,373 shares during the quarter. Bremer Trust National Association’s holdings in AbbVie were worth $1,646,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Capital Research Global Investors raised its position in AbbVie by 1.2% during the second quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock valued at $12,926,708,000 after buying an additional 2,130,919 shares during the period. Vanguard Group Inc. raised its position in AbbVie by 3.3% during the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after buying an additional 3,706,941 shares during the period. BlackRock Inc. increased its position in AbbVie by 2.0% in the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock worth $6,821,375,000 after purchasing an additional 1,864,418 shares during the last quarter. Orbis Allan Gray Ltd increased its position in AbbVie by 35.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after purchasing an additional 3,340,038 shares during the last quarter. Finally, Woodford Investment Management Ltd increased its position in AbbVie by 8.6% in the 2nd quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock worth $859,589,000 after purchasing an additional 937,500 shares during the last quarter. 69.18% of the stock is owned by institutional investors.
In related news, SVP Timothy J. Richmond sold 87,040 shares of AbbVie stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $98.45, for a total value of $8,569,088.00. Following the sale, the senior vice president now owns 113,118 shares of the company’s stock, valued at $11,136,467.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction dated 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 in the company, valued at approximately $46,255,740.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 494,676 shares of company stock worth $47,237,938. Corporate insiders own 0.23% of the company’s stock.
Shares of AbbVie Inc (ABBV) opened at $99.69 on Thursday. The company has a market capitalization of $158,920.00, a price-to-earnings ratio of 24.20, a PEG ratio of 1.20 and a beta of 1.53. AbbVie Inc has a 52 week low of $59.27 and a 52 week high of $101.28. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. During the same period last year, the company earned $1.21 EPS. The firm’s revenue was up 8.8% on a year-over-year basis. sell-side analysts predict that AbbVie Inc will post 5.55 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued 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 annualized dividend and a yield of 2.85%. AbbVie’s payout ratio is currently 62.14%.
A number of brokerages have recently commented on ABBV. Vetr lowered AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 price objective on the stock. in a report on Monday. Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Jefferies Group increased their target price on AbbVie from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Piper Jaffray Companies restated a “buy” rating on shares of AbbVie in a research note on Tuesday, January 2nd. Finally, BMO Capital Markets set a $84.00 target price on AbbVie and gave the company a “hold” rating in a research note on Wednesday, December 20th. 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 company’s stock. The stock has an average rating of “Buy” and an average price target of $100.94.
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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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