Sullivan Bruyette Speros & Blaney LLC increased its stake in AbbVie Inc (NYSE:ABBV) by 7.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,980 shares of the company’s stock after acquiring an additional 1,110 shares during the quarter. Sullivan Bruyette Speros & Blaney LLC’s holdings in AbbVie were worth $1,565,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in AbbVie by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 118,762,307 shares of the company’s stock valued at $11,232,540,000 after buying an additional 912,625 shares during the period. Vanguard Group Inc lifted its stake in shares of AbbVie by 0.8% in the 3rd quarter. Vanguard Group Inc now owns 118,762,307 shares of the company’s stock valued at $11,232,540,000 after purchasing an additional 912,625 shares in the last quarter. Capital International Investors raised its holdings in shares of AbbVie by 266.4% during the 3rd quarter. Capital International Investors now owns 27,594,648 shares of the company’s stock valued at $2,609,902,000 after buying an additional 20,063,435 shares during the period. Capital World Investors raised its holdings in shares of AbbVie by 74.9% during the 3rd quarter. Capital World Investors now owns 25,359,025 shares of the company’s stock valued at $2,398,457,000 after buying an additional 10,858,432 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of AbbVie by 2.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 15,879,753 shares of the company’s stock valued at $1,501,907,000 after buying an additional 382,597 shares during the period. 70.66% of the stock is owned by institutional investors.
Several brokerages recently commented on ABBV. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Tuesday, January 8th. Bank of America downgraded AbbVie from a “buy” rating to a “neutral” rating in a report on Thursday, January 3rd. UBS Group restated a “neutral” rating and set a $91.00 price objective (down from $97.00) on shares of AbbVie in a report on Wednesday, January 23rd. Credit Suisse Group upgraded AbbVie to a “hold” rating and set a $79.00 price objective on the stock in a report on Thursday, January 17th. Finally, Morgan Stanley set a $88.00 price objective on AbbVie and gave the stock a “hold” rating in a report on Thursday, December 20th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $94.48.
ABBV opened at $80.78 on Monday. AbbVie Inc has a one year low of $75.77 and a one year high of $107.25. The firm has a market capitalization of $119.16 billion, a PE ratio of 10.21, a PEG ratio of 1.68 and a beta of 1.16.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 25th. The company reported $1.90 EPS for the quarter, missing the Zacks’ consensus estimate of $1.92 by ($0.02). AbbVie had a negative return on equity of 439.07% and a net margin of 17.36%. The firm had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the prior year, the firm posted $1.48 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. On average, research analysts forecast that AbbVie Inc will post 8.69 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is presently 54.11%.
In other news, Vice Chairman Laura J. Schumacher sold 25,000 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $80.00, for a total transaction of $2,000,000.00. Following the sale, the insider now directly owns 139,838 shares of the company’s stock, valued at $11,187,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian L. Durkin sold 475 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $79.69, for a total value of $37,852.75. Following the sale, the vice president now directly owns 9,121 shares in the company, valued at $726,852.49. The disclosure for this sale can be found here. Insiders sold a total of 41,272 shares of company stock worth $3,286,290 in the last three months. Company insiders own 0.08% of the company’s stock.
AbbVie Company Profile
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.
Further Reading: What is the S&P 500 Index?
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.