Timber Hill LLC cut its holdings in AbbVie Inc (NYSE:ABBV) by 47.5% in the 1st quarter, HoldingsChannel reports. The fund owned 11,232 shares of the company’s stock after selling 10,159 shares during the period. Timber Hill LLC’s holdings in AbbVie were worth $1,063,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of ABBV. BlackRock Inc. increased its position in AbbVie by 2.8% in the 4th quarter. BlackRock Inc. now owns 101,322,201 shares of the company’s stock valued at $9,798,871,000 after buying an additional 2,714,857 shares in the last quarter. Geode Capital Management LLC increased its position in AbbVie by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 16,042,851 shares of the company’s stock valued at $1,548,096,000 after buying an additional 697,191 shares in the last quarter. Jennison Associates LLC increased its position in AbbVie by 85.3% in 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. TIAA CREF Investment Management LLC increased its position in AbbVie by 3.5% in the 4th quarter. TIAA CREF Investment Management LLC now owns 10,321,140 shares of the company’s stock valued at $998,157,000 after buying an additional 347,642 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in AbbVie by 3.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 6,088,016 shares of the company’s stock valued at $576,231,000 after buying an additional 220,125 shares in the last quarter. 69.42% of the stock is owned by hedge funds and other institutional investors.
In other AbbVie news, Director Edward J. Rapp bought 1,013 shares of the business’s stock in a transaction dated Wednesday, June 20th. The shares were purchased at an average price of $98.63 per share, for a total transaction of $99,912.19. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Timothy J. Richmond sold 17,588 shares of the business’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $99.47, for a total value of $1,749,478.36. The disclosure for this sale can be found here. 0.07% of the stock is owned by insiders.
Shares of NYSE ABBV opened at $91.51 on Thursday. AbbVie Inc has a twelve month low of $69.38 and a twelve month high of $125.86. The company has a market capitalization of $146.18 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 0.86 and a beta of 1.61. The company has a current ratio of 1.20, a quick ratio of 1.10 and a debt-to-equity ratio of 8.70.
AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, April 26th. The company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.08. AbbVie had a return on equity of 186.47% and a net margin of 21.55%. The firm had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $7.60 billion. During the same quarter in the previous year, the business earned $1.28 EPS. The company’s revenue was up 21.4% compared to the same quarter last year. analysts forecast that AbbVie Inc will post 7.8 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Stockholders 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 dividend yield of 4.20%. AbbVie’s payout ratio is presently 68.57%.
ABBV has been the subject of a number of research analyst reports. Jefferies Financial Group set a $122.00 target price on AbbVie and gave the company a “buy” rating in a research report on Friday, April 13th. ValuEngine downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 28th. Goldman Sachs Group downgraded AbbVie from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, May 24th. Argus cut their price target on AbbVie from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, June 11th. Finally, Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research note on Wednesday. Four analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $105.85.
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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