Quadrant Capital Group LLC increased its stake in AbbVie Inc (NYSE:ABBV) by 6.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 13,917 shares of the company’s stock after buying an additional 844 shares during the quarter. Quadrant Capital Group LLC’s holdings in AbbVie were worth $990,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABBV. Oregon Public Employees Retirement Fund lifted its holdings in AbbVie by 4,385.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 15,195,586 shares of the company’s stock valued at $165,000 after purchasing an additional 14,856,786 shares during the last quarter. Norges Bank bought a new position in shares of AbbVie in the fourth quarter worth approximately $1,300,469,000. FMR LLC increased its position in shares of AbbVie by 56.5% in the first quarter. FMR LLC now owns 13,200,141 shares of the company’s stock worth $1,063,799,000 after purchasing an additional 4,765,946 shares during the last quarter. Thoroughbred Financial Services LLC increased its position in shares of AbbVie by 7,659.9% in the second quarter. Thoroughbred Financial Services LLC now owns 1,010,494 shares of the company’s stock worth $101,049,000 after purchasing an additional 997,472 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in AbbVie by 61.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 2,565,005 shares of the company’s stock valued at $186,527,000 after acquiring an additional 979,638 shares during the last quarter. 68.52% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on the company. ValuEngine lowered AbbVie from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 26th. Credit Suisse Group set a $78.00 price objective on AbbVie and gave the company a “sell” rating in a research report on Friday, April 26th. Leerink Swann upgraded AbbVie to a “buy” rating in a report on Tuesday, July 2nd. Citigroup restated a “hold” rating on shares of AbbVie in a report on Wednesday, June 26th. Finally, Piper Jaffray Companies set a $80.00 price objective on AbbVie and gave the stock a “hold” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. AbbVie has an average rating of “Hold” and an average price target of $92.05.
ABBV stock traded down $0.45 during mid-day trading on Friday, reaching $65.35. 9,652,379 shares of the company’s stock were exchanged, compared to its average volume of 11,007,136. The firm has a market capitalization of $97.27 billion, a P/E ratio of 8.26, a price-to-earnings-growth ratio of 1.57 and a beta of 0.96. The firm has a 50 day moving average of $71.69. AbbVie Inc has a 12-month low of $65.03 and a 12-month high of $100.23.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 26th. The company reported $2.26 EPS for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.05. AbbVie had a negative return on equity of 198.18% and a net margin of 12.62%. The firm had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same quarter last year, the business posted $2.00 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. As a group, equities analysts anticipate that AbbVie Inc will post 8.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $1.07 dividend. The ex-dividend date is Friday, July 12th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 6.55%. AbbVie’s payout ratio is presently 54.11%.
In other AbbVie news, Director Roxanne S. Austin purchased 55,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was bought at an average cost of $65.86 per share, with a total value of $3,622,300.00. Following the acquisition, the director now directly owns 92,114 shares of the company’s stock, valued at $6,066,628.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roxanne S. Austin purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were acquired at an average cost of $66.35 per share, with a total value of $663,500.00. Following the completion of the acquisition, the director now directly owns 62,114 shares in the company, valued at $4,121,263.90. The disclosure for this purchase can be found here. Insiders bought 136,900 shares of company stock valued at $9,126,370 over the last ninety days. Insiders own 0.08% of the company’s stock.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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