Rathbone Brothers plc lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,265 shares of the company’s stock after selling 770 shares during the period. Rathbone Brothers plc’s holdings in AbbVie were worth $10,083,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Jennison Associates LLC purchased a new position in AbbVie in the 3rd quarter worth approximately $544,418,000. Capital International Investors grew its stake in AbbVie by 137.7% in the 3rd quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock worth $697,989,000 after buying an additional 4,550,954 shares in the last quarter. Vanguard Group Inc. grew its stake in AbbVie by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after buying an additional 3,706,941 shares in the last quarter. Janus Henderson Group PLC grew its stake in AbbVie by 1,949.7% in the 2nd quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock worth $277,967,000 after buying an additional 3,646,510 shares in the last quarter. Finally, Orbis Allan Gray Ltd grew its stake 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 buying an additional 3,340,038 shares in the last quarter. 70.54% of the stock is owned by institutional investors.
NYSE:ABBV traded down $2.43 during midday trading on Friday, reaching $89.78. 6,760,581 shares of the stock traded hands, compared to its average volume of 8,547,277. AbbVie Inc. has a 12 month low of $63.12 and a 12 month high of $125.86. The company has a quick ratio of 1.18, a current ratio of 1.28 and a debt-to-equity ratio of 6.07. The firm has a market capitalization of $146,426.98, a P/E ratio of 16.03, a P/E/G ratio of 0.87 and a beta of 1.61.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, beating the Zacks’ 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 analyst estimates of $7.53 billion. During the same period in the prior year, the business posted $1.20 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year. analysts anticipate that AbbVie Inc. will post 7.51 EPS for the current year.
AbbVie declared that its Board of Directors has approved a stock buyback program on Thursday, February 15th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be issued a dividend of $0.96 per share. This is a positive change from AbbVie’s previous quarterly dividend of $0.71. This represents a $3.84 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Thursday, April 12th. AbbVie’s dividend payout ratio is currently 50.71%.
In other AbbVie news, VP Robert A. Michael sold 992 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $120.31, for a total value of $119,347.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William J. Chase sold 70,928 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $117.18, for a total transaction of $8,311,343.04. Following the completion of the transaction, the chief financial officer now owns 203,391 shares of the company’s stock, valued at $23,833,357.38. The disclosure for this sale can be found here. Insiders have sold a total of 211,197 shares of company stock valued at $24,585,575 over the last quarter. 0.07% of the stock is currently owned by company insiders.
A number of equities analysts have commented on ABBV shares. SunTrust Banks boosted their price target on shares of AbbVie to $157.00 and gave the stock an “average” rating in a research note on Monday, January 29th. Jefferies Group upped their price objective on shares of AbbVie from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Piper Jaffray reaffirmed a “buy” rating on shares of AbbVie in a research note on Tuesday, January 2nd. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research note on Tuesday, January 2nd. Finally, Vetr cut shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 price objective for the company. in a research note on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $117.38.
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AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
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