Advisory Services Network LLC Grows Holdings in AbbVie Inc. (ABBV)

Advisory Services Network LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 29.4% in the 4th quarter, Holdings Channel reports. The firm owned 50,626 shares of the company’s stock after acquiring an additional 11,512 shares during the period. Advisory Services Network LLC’s holdings in AbbVie were worth $4,896,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jennison Associates LLC bought a new position in shares of AbbVie in the 3rd quarter valued at about $544,418,000. Capital International Investors lifted its stake in AbbVie by 137.7% in the third quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock worth $697,989,000 after purchasing an additional 4,550,954 shares during the last quarter. Vanguard Group Inc. lifted its stake in AbbVie by 3.3% in the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after purchasing an additional 3,706,941 shares during the last quarter. Janus Henderson Group PLC lifted its stake in AbbVie by 1,949.7% in the second quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock worth $277,967,000 after purchasing an additional 3,646,510 shares during the last quarter. Finally, Orbis Allan Gray Ltd lifted its stake in AbbVie by 35.7% in the second quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after purchasing an additional 3,340,038 shares during the last quarter. 70.57% of the stock is owned by institutional investors and hedge funds.

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Several analysts have issued reports on the stock. ValuEngine raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Credit Suisse Group set a $135.00 price objective on shares of AbbVie and gave the stock a “hold” rating in a research note on Monday, January 29th. Leerink Swann downgraded shares of AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 price objective for the company. in a research note on Monday, January 29th. BMO Capital Markets reissued a “sell” rating and issued a $95.00 price objective on shares of AbbVie in a research note on Thursday, February 15th. Finally, Zacks Investment Research downgraded shares of 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 given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $117.85.

Shares of NYSE:ABBV opened at $92.60 on Monday. The company has a market cap of $147,046.30, a PE ratio of 16.54, a P/E/G ratio of 0.89 and a beta of 1.61. AbbVie Inc. has a one year low of $63.55 and a one 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.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.04. The business had revenue of $7.74 billion for the quarter, compared to analyst estimates of $7.53 billion. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company posted $1.20 earnings per share. sell-side analysts anticipate that AbbVie Inc. will post 7.57 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Thursday, April 12th. 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 dividend yield of 4.15%. AbbVie’s dividend payout ratio (DPR) is 68.57%.

AbbVie declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 15th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

In related news, VP Robert A. Michael sold 4,294 shares of AbbVie stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $119.43, for a total transaction of $512,832.42. Following the transaction, the vice president now directly owns 11,170 shares of the company’s stock, valued at $1,334,033.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Carlos Alban sold 83,574 shares of AbbVie 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 transaction, the executive vice president now directly owns 133,026 shares in the company, valued at $15,230,146.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 211,197 shares of company stock worth $24,585,575. Corporate 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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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