MUFG Securities EMEA plc Invests $29.01 Million in AbbVie Inc. (ABBV) Stock

MUFG Securities EMEA plc purchased a new stake in AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 300,000 shares of the company’s stock, valued at approximately $29,013,000. AbbVie makes up approximately 0.7% of MUFG Securities EMEA plc’s holdings, making the stock its 29th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABBV. Ffcm LLC raised its stake in AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after purchasing an additional 963 shares during the period. Bristlecone Advisors LLC acquired a new stake in AbbVie during the 3rd quarter valued at $113,000. Hershey Trust Co. acquired a new stake in AbbVie during the 3rd quarter valued at $139,000. Harvest Fund Management Co. Ltd raised its stake in AbbVie by 1,172.6% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,227 shares of the company’s stock valued at $161,000 after purchasing an additional 2,052 shares during the period. Finally, Atlantic Trust LLC raised its stake in AbbVie by 208.4% during the 2nd quarter. Atlantic Trust LLC now owns 2,467 shares of the company’s stock valued at $179,000 after purchasing an additional 1,667 shares during the period. 70.54% of the stock is currently owned by institutional investors.

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Several brokerages have issued reports on ABBV. SunTrust Banks boosted their target price on shares of AbbVie to $157.00 and gave the company an “average” rating in a research note on Monday, January 29th. Piper Jaffray boosted their target price on shares of AbbVie from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Leerink Swann downgraded shares of AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 target price on the stock. in a research note on Monday, January 29th. BMO Capital Markets downgraded shares of AbbVie from a “market perform” rating to an “underperform” rating and cut their target price 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. Finally, Evercore ISI reissued a “buy” rating and set a $144.00 target price on shares of AbbVie in a research note on Monday, January 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. AbbVie has a consensus rating of “Buy” and an average target price of $117.38.

In related news, CFO William J. Chase sold 70,928 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $117.18, for a total value of $8,311,343.04. Following the completion of the sale, the chief financial officer now directly owns 203,391 shares in the company, valued at $23,833,357.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert A. Michael sold 992 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $120.31, for a total transaction of $119,347.52. The disclosure for this sale can be found here. Insiders sold 211,197 shares of company stock valued at $24,585,575 over the last quarter. 0.07% of the stock is currently owned by corporate insiders.

NYSE ABBV opened at $89.78 on Friday. AbbVie Inc. has a 1-year low of $63.12 and a 1-year high of $125.86. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.18 and a current ratio of 1.28. The firm has a market capitalization of $146,426.98, a PE 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 earnings per share for the quarter, topping 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 business had revenue of $7.74 billion for the quarter, compared to the consensus estimate of $7.53 billion. During the same period in the prior year, the business posted $1.20 earnings per share. AbbVie’s revenue for the quarter was up 13.9% compared to the same quarter last year. sell-side analysts predict that AbbVie Inc. will post 7.51 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This is a boost 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%. AbbVie’s dividend payout ratio is currently 50.71%.

AbbVie announced that its Board of Directors has initiated a share buyback program on Thursday, February 15th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

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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.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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