E&G Advisors LP reduced its position in AbbVie Inc (NYSE:ABBV) by 31.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,900 shares of the company’s stock after selling 1,800 shares during the quarter. E&G Advisors LP’s holdings in AbbVie were worth $347,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its stake in AbbVie by 1.2% in 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 purchasing an additional 2,130,919 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of AbbVie by 3.3% during the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after acquiring an additional 3,706,941 shares during the last quarter. BlackRock Inc. grew its stake in shares of AbbVie by 2.0% during the second quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock worth $6,821,375,000 after acquiring an additional 1,864,418 shares during the last quarter. Orbis Allan Gray Ltd grew its stake in shares of AbbVie by 35.7% during the second quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after acquiring an additional 3,340,038 shares during the last quarter. Finally, Woodford Investment Management Ltd grew its stake in shares of AbbVie by 8.6% during the second quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock worth $859,589,000 after acquiring an additional 937,500 shares during the last quarter. Hedge funds and other institutional investors own 69.18% of the company’s stock.
Shares of AbbVie Inc (NYSE ABBV) traded up $1.07 during trading hours on Friday, reaching $100.34. The company’s stock had a trading volume of 4,370,000 shares, compared to its average volume of 4,460,000. AbbVie Inc has a one year low of $59.27 and a one year high of $101.28. The firm has a market capitalization of $159,950.00, a P/E ratio of 24.35, a PEG ratio of 1.18 and a beta of 1.53. 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 announced its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.02. The company had revenue of $7 billion during the quarter, compared to the consensus estimate 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 previous year, the company posted $1.21 earnings per share. equities research analysts anticipate that AbbVie Inc will post 5.55 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.83%. This is an increase from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio is presently 68.93%.
In related news, insider Henry O. Gosebruch sold 18,300 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the completion of the sale, the insider now directly owns 81,287 shares in the company, valued at $7,360,537.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Severino sold 25,633 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $94.69, for a total value of $2,427,188.77. Following the sale, the executive vice president now owns 114,922 shares of the company’s stock, valued at $10,881,964.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 494,676 shares of company stock valued at $47,237,938. Corporate insiders own 0.23% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Vetr lowered AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 price target on the stock. in a research note on Monday, January 8th. Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Jefferies Group boosted their price target on AbbVie from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. BMO Capital Markets set a $84.00 price target on AbbVie and gave the stock a “hold” rating in a research note on Thursday. Finally, Piper Jaffray Companies restated a “buy” rating on shares of AbbVie in a research note on Tuesday, January 2nd. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $100.94.
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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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