Santa Barbara Asset Management LLC trimmed its holdings in shares of AbbVie Inc (NYSE:ABBV) by 19.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,436,940 shares of the company’s stock after selling 347,805 shares during the quarter. AbbVie accounts for approximately 2.1% of Santa Barbara Asset Management LLC’s holdings, making the stock its 27th biggest holding. Santa Barbara Asset Management LLC owned approximately 0.09% of AbbVie worth $136,006,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in ABBV. Jennison Associates LLC raised its position in shares of AbbVie by 85.3% during the 4th quarter. Jennison Associates LLC now owns 11,353,745 shares of the company’s stock valued at $1,098,021,000 after buying an additional 5,227,056 shares in the last quarter. BlackRock Inc. grew its holdings in AbbVie by 2.8% during the 4th quarter. BlackRock Inc. now owns 101,322,201 shares of the company’s stock valued at $9,798,871,000 after purchasing an additional 2,714,857 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in AbbVie during the 4th quarter valued at about $135,027,000. Swedbank bought a new position in AbbVie during the 4th quarter valued at about $130,841,000. Finally, SG Americas Securities LLC grew its holdings in AbbVie by 139.6% during the 4th quarter. SG Americas Securities LLC now owns 351,888 shares of the company’s stock valued at $34,031,000 after purchasing an additional 1,239,877 shares during the last quarter. Hedge funds and other institutional investors own 69.42% of the company’s stock.
Shares of AbbVie opened at $92.12 on Wednesday, MarketBeat.com reports. The company has a debt-to-equity ratio of 8.70, a quick ratio of 1.10 and a current ratio of 1.20. The stock has a market capitalization of $147.66 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 0.87 and a beta of 1.61. AbbVie Inc has a one year low of $69.38 and a one year high of $125.86.
AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, April 26th. The company reported $1.87 EPS for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.08. The business had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $7.60 billion. AbbVie had a net margin of 21.55% and a return on equity of 186.47%. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.28 EPS. equities analysts forecast that AbbVie Inc will post 7.8 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Shareholders of record on Friday, July 13th will be paid a $0.96 dividend. The ex-dividend date is Thursday, July 12th. This represents a $3.84 dividend on an annualized basis and a yield of 4.17%. AbbVie’s dividend payout ratio is currently 68.57%.
In other news, SVP Timothy J. Richmond sold 17,588 shares of the stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $99.47, for a total transaction of $1,749,478.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Edward J. Rapp acquired 1,013 shares of the company’s stock in a transaction dated Wednesday, June 20th. The shares were acquired at an average price of $98.63 per share, for a total transaction of $99,912.19. The disclosure for this purchase can be found here. 0.07% of the stock is owned by corporate insiders.
Several equities analysts recently commented on ABBV shares. Jefferies Financial Group set a $122.00 price target on shares of AbbVie and gave the company a “buy” rating in a report on Friday, April 13th. ValuEngine downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 28th. Goldman Sachs Group downgraded shares of AbbVie from a “conviction-buy” rating to a “buy” rating in a report on Thursday, May 24th. Argus cut their price target on shares of AbbVie from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Monday, June 11th. Finally, Barclays cut their price target on shares of AbbVie from $120.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, April 5th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. AbbVie presently has a consensus rating of “Hold” and a consensus target price of $106.51.
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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