Ossiam Makes New $78,000 Investment in AbbVie Inc (NYSE:ABBV)

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Ossiam bought a new position in AbbVie Inc (NYSE:ABBV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,074 shares of the company’s stock, valued at approximately $78,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABBV. Norges Bank purchased a new stake in AbbVie in the fourth quarter worth approximately $1,300,469,000. FMR LLC lifted its position in AbbVie by 56.5% in the first quarter. FMR LLC now owns 13,200,141 shares of the company’s stock valued at $1,063,799,000 after purchasing an additional 4,765,946 shares during the last quarter. Renaissance Technologies LLC lifted its position in AbbVie by 83.4% in the second quarter. Renaissance Technologies LLC now owns 4,538,542 shares of the company’s stock valued at $330,043,000 after purchasing an additional 2,064,486 shares during the last quarter. Panagora Asset Management Inc. lifted its position in AbbVie by 532.4% in the second quarter. Panagora Asset Management Inc. now owns 1,588,784 shares of the company’s stock valued at $115,536,000 after purchasing an additional 1,337,547 shares during the last quarter. Finally, Prudential Financial Inc. lifted its position in AbbVie by 57.3% in the second quarter. Prudential Financial Inc. now owns 2,851,569 shares of the company’s stock valued at $207,366,000 after purchasing an additional 1,038,344 shares during the last quarter. 68.21% of the stock is owned by institutional investors and hedge funds.

ABBV traded up $0.34 during trading on Friday, reaching $71.17. The stock had a trading volume of 4,087,415 shares, compared to its average volume of 7,832,565. The stock’s 50 day moving average is $66.13 and its two-hundred day moving average is $74.81. The company has a market capitalization of $100.80 billion, a price-to-earnings ratio of 9.00, a P/E/G ratio of 1.62 and a beta of 0.95. AbbVie Inc has a one year low of $62.66 and a one year high of $96.60.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.05. The business had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.09 billion. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.00 earnings per share. Research analysts predict that AbbVie Inc will post 8.9 EPS for the current year.

The company also recently announced a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $1.07 dividend. This represents a yield of 6.4%. The ex-dividend date of this dividend is Friday, October 11th. AbbVie’s dividend payout ratio is 54.11%.

In related news, Director Roxanne S. Austin acquired 11,500 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were purchased at an average price of $67.50 per share, with a total value of $776,250.00. Following the completion of the purchase, the director now directly owns 52,114 shares of the company’s stock, valued at $3,517,695. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jeffrey Ryan Stewart acquired 15,552 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was bought at an average cost of $64.44 per share, for a total transaction of $1,002,170.88. Following the purchase, the senior vice president now directly owns 65,304 shares of the company’s stock, valued at $4,208,189.76. The disclosure for this purchase can be found here. In the last three months, insiders acquired 159,977 shares of company stock worth $10,626,621. 0.08% of the stock is owned by corporate insiders.

Several brokerages have weighed in on ABBV. Leerink Swann upgraded AbbVie to a “buy” rating in a research report on Tuesday, July 2nd. ValuEngine downgraded AbbVie from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 26th. Goldman Sachs Group began coverage on AbbVie in a report on Tuesday, May 28th. They set a “neutral” rating and a $84.00 target price for the company. TheStreet downgraded AbbVie from a “b-” rating to a “c” rating in a report on Monday, August 26th. Finally, Citigroup restated a “hold” rating on shares of AbbVie in a report on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $91.20.

About AbbVie

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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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