Middleton & Co Inc MA grew its stake in AbbVie Inc (NYSE:ABBV) by 7.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 150,457 shares of the company’s stock after acquiring an additional 10,086 shares during the period. AbbVie comprises 2.4% of Middleton & Co Inc MA’s investment portfolio, making the stock its 6th biggest holding. Middleton & Co Inc MA’s holdings in AbbVie were worth $14,551,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its stake in shares of AbbVie by 1.2% in the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock valued at $12,926,708,000 after acquiring an additional 2,130,919 shares during the period. Vanguard Group Inc. raised its stake in shares of AbbVie by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after acquiring an additional 3,706,941 shares during the period. BlackRock Inc. raised its stake in shares of AbbVie by 2.0% in the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock valued at $6,821,375,000 after acquiring an additional 1,864,418 shares during the period. Orbis Allan Gray Ltd raised its stake in shares of AbbVie by 35.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after acquiring an additional 3,340,038 shares during the period. Finally, Woodford Investment Management Ltd raised its stake in shares of AbbVie by 8.6% in the 2nd quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock valued at $859,589,000 after acquiring an additional 937,500 shares during the period. 70.63% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Timothy J. Richmond sold 87,040 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $98.45, for a total value of $8,569,088.00. Following the completion of the transaction, the senior vice president now owns 113,118 shares in the company, valued at approximately $11,136,467.10. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Laura J. Schumacher sold 25,000 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $117.85, for a total transaction of $2,946,250.00. Following the completion of the transaction, the insider now owns 123,317 shares of the company’s stock, valued at approximately $14,532,908.45. The disclosure for this sale can be found here. Insiders have sold a total of 298,237 shares of company stock valued at $33,154,663 in the last quarter. 0.23% of the stock is currently owned by company insiders.
AbbVie Inc (ABBV) opened at $113.71 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.18 and a debt-to-equity ratio of 6.07. AbbVie Inc has a twelve month low of $63.12 and a twelve month high of $125.86. The company has a market cap of $180,568.41, a P/E ratio of 34.56, a price-to-earnings-growth ratio of 1.07 and a beta of 1.52.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.44 by $0.04. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The company had revenue of $7.74 billion during the quarter, compared to analysts’ expectations of $7.53 billion. During the same quarter in the previous year, the business posted $1.20 EPS. The firm’s revenue was up 13.9% on a year-over-year basis. equities analysts forecast that AbbVie Inc will post 7.48 earnings per share for the current fiscal year.
AbbVie declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 15th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Thursday, April 12th. This is a boost from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s payout ratio is 86.32%.
A number of equities research analysts have recently issued reports on ABBV shares. BMO Capital Markets downgraded shares of AbbVie from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $125.86 to $84.00 in a research note on Monday, January 29th. They noted that the move was a valuation call. Zacks Investment Research cut shares of AbbVie from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Credit Suisse Group set a $98.00 price objective on shares of AbbVie and gave the company a “hold” rating in a report on Monday, January 22nd. Piper Jaffray Companies restated a “buy” rating on shares of AbbVie in a report on Tuesday, January 2nd. Finally, SunTrust Banks lifted their price objective on shares of AbbVie to $157.00 and gave the company an “average” rating in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $120.96.
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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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