Stephens Inc. AR reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 18.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 258,876 shares of the company’s stock after selling 59,411 shares during the period. AbbVie accounts for approximately 0.9% of Stephens Inc. AR’s investment portfolio, making the stock its 18th biggest position. Stephens Inc. AR’s holdings in AbbVie were worth $25,036,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Capital Research Global Investors grew its holdings in AbbVie by 1.2% during the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock worth $12,926,708,000 after acquiring an additional 2,130,919 shares during the period. Vanguard Group Inc. grew 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 buying an additional 3,706,941 shares during the period. BlackRock Inc. grew 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 buying an additional 1,864,418 shares during the period. Orbis Allan Gray Ltd grew 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 buying an additional 3,340,038 shares during the period. Finally, Woodford Investment Management Ltd grew 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 buying an additional 937,500 shares during the period. Hedge funds and other institutional investors own 70.54% of the company’s stock.
In other AbbVie news, CFO William J. Chase sold 70,928 shares of AbbVie stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $117.18, for a total transaction of $8,311,343.04. Following the transaction, the chief financial officer now owns 203,391 shares of the company’s stock, valued at approximately $23,833,357.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Robert A. Michael sold 992 shares of AbbVie stock in a transaction that occurred 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. In the last ninety days, insiders sold 211,197 shares of company stock worth $24,585,575. 0.07% of the stock is owned by insiders.
Shares of NYSE ABBV opened at $89.78 on Friday. AbbVie Inc. has a fifty-two week low of $63.12 and a fifty-two week high of $125.86. The stock has a market capitalization of $146,426.98, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 0.87 and a beta of 1.61. 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 (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ 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 analysts’ expectations of $7.53 billion. During the same quarter last year, the firm earned $1.20 EPS. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. sell-side analysts expect that AbbVie Inc. will post 7.51 earnings per share for the current year.
AbbVie declared that its board has approved a stock buyback program on Thursday, February 15th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be given a $0.96 dividend. This is a boost from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.84 annualized dividend and a yield of 4.28%. AbbVie’s dividend payout ratio (DPR) is presently 50.71%.
Several analysts have recently commented on the company. ValuEngine upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Credit Suisse Group set a $135.00 target price on AbbVie and gave the company a “hold” rating in a research note on Monday, January 29th. Leerink Swann downgraded AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 target price for the company. in a research note on Monday, January 29th. BMO Capital Markets restated a “sell” rating and issued a $95.00 target price on shares of AbbVie in a research note on Thursday, February 15th. Finally, Zacks Investment Research downgraded AbbVie from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. AbbVie presently has a consensus rating of “Buy” and an average price target of $117.38.
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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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