Bank of The Ozarks lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 27.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,403 shares of the company’s stock after acquiring an additional 10,128 shares during the quarter. AbbVie accounts for approximately 1.7% of Bank of The Ozarks’ portfolio, making the stock its 7th largest holding. Bank of The Ozarks’ holdings in AbbVie were worth $4,488,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of ABBV. Capital Research Global Investors boosted its holdings in AbbVie by 1.2% during the second quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock worth $12,926,708,000 after buying an additional 2,130,919 shares in the last quarter. Vanguard Group Inc. boosted its holdings in AbbVie by 3.3% during the second 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. BlackRock Inc. boosted its holdings in AbbVie by 2.0% during the second quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock worth $6,821,375,000 after buying an additional 1,864,418 shares in the last quarter. Orbis Allan Gray Ltd boosted its holdings in AbbVie by 35.7% during the second 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. Finally, Woodford Investment Management Ltd boosted its holdings in AbbVie by 8.6% during the second quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock worth $859,589,000 after buying an additional 937,500 shares in the last quarter. Institutional investors and hedge funds own 70.54% of the company’s stock.
Shares of NYSE ABBV opened at $89.78 on Friday. AbbVie Inc. has a 12-month low of $63.12 and a 12-month high of $125.86. The stock has a market capitalization of $146,426.98, a price-to-earnings 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 (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.04. The company had revenue of $7.74 billion for the quarter, compared to the consensus estimate of $7.53 billion. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.20 earnings per share. equities analysts predict that AbbVie Inc. will post 7.51 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date is Thursday, April 12th. This is a positive change from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s payout ratio is currently 50.71%.
AbbVie declared that its board has authorized a share repurchase plan on Thursday, February 15th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
A number of research firms recently commented on ABBV. SunTrust Banks boosted their price objective on shares of AbbVie to $157.00 and gave the stock an “average” rating in a report on Monday, January 29th. Piper Jaffray boosted their price objective on shares of AbbVie from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Leerink Swann downgraded shares of AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 price objective on the stock. in a report on Monday, January 29th. BMO Capital Markets downgraded shares of AbbVie from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $125.86 to $84.00 in a report 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 price objective on shares of AbbVie in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $117.38.
In other news, VP Robert A. Michael sold 992 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $120.31, for a total value of $119,347.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Carlos Alban sold 83,574 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $114.49, for a total transaction of $9,568,387.26. Following the completion of the transaction, the executive vice president now directly owns 133,026 shares of the company’s stock, valued at approximately $15,230,146.74. The disclosure for this sale can be found here. In the last three months, insiders sold 211,197 shares of company stock valued at $24,585,575. Company insiders own 0.07% of the company’s stock.
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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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