Robeco Institutional Asset Management B.V. increased its stake in shares of AbbVie Inc (NYSE:ABBV) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 919,518 shares of the company’s stock after acquiring an additional 22,264 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.06% of AbbVie worth $81,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of ABBV. Formidable Asset Management LLC grew its position in shares of AbbVie by 0.3% in the 2nd quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock worth $285,000 after buying an additional 10 shares during the last quarter. WealthTrust Axiom LLC grew its position in shares of AbbVie by 0.3% in the 2nd quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock worth $312,000 after buying an additional 15 shares during the last quarter. Abner Herrman & Brock LLC grew its position in shares of AbbVie by 0.3% in the 2nd quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock worth $456,000 after buying an additional 18 shares during the last quarter. St. Louis Trust Co grew its position in shares of AbbVie by 0.7% in the 2nd quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock worth $248,000 after buying an additional 23 shares during the last quarter. Finally, TRUE Private Wealth Advisors grew its position in shares of AbbVie by 0.6% in the 2nd quarter. TRUE Private Wealth Advisors now owns 4,814 shares of the company’s stock worth $349,000 after buying an additional 27 shares during the last quarter. Institutional investors and hedge funds 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 4,370,600 shares, compared to its average volume of 4,460,000. The stock has a market capitalization of $159,950.00, a PE ratio of 24.35, a price-to-earnings-growth ratio of 1.18 and a beta of 1.53. AbbVie Inc has a 1-year low of $59.27 and a 1-year high of $101.28. 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 announced its quarterly earnings data 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 business had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.21 earnings per share. sell-side analysts predict that AbbVie Inc will post 5.55 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a dividend of $0.71 per share. This is a boost from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a yield of 2.83%. AbbVie’s payout ratio is presently 68.93%.
In other AbbVie news, SVP Timothy J. Richmond sold 87,040 shares of AbbVie stock in a transaction on 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 completion of the sale, the senior vice president now owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction on Tuesday, November 21st. The stock was 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 disclosure for this sale can be found here. Insiders have sold 494,676 shares of company stock valued at $47,237,938 in the last quarter. 0.23% of the stock is owned by company insiders.
A number of equities research analysts have recently weighed in on ABBV shares. Societe Generale lifted their price objective on AbbVie in a research report on Tuesday, November 21st. Jefferies Group restated a “buy” rating and issued a $107.00 target price (up previously from $94.00) on shares of AbbVie in a research note on Friday, September 15th. Piper Jaffray Companies restated a “buy” rating and issued a $100.00 target price on shares of AbbVie in a research note on Friday, September 15th. Argus raised their target price on AbbVie from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, September 29th. Finally, Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a research note on Tuesday, October 17th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. AbbVie 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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