Pax World Management LLC bought a new position in shares of AbbVie Inc (NYSE:ABBV) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 120,000 shares of the company’s stock, valued at approximately $10,663,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Acropolis Investment Management LLC acquired a new position in shares of AbbVie during the 2nd quarter valued at about $106,000. Hudock Capital Group LLC boosted its position in shares of AbbVie by 109.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after acquiring an additional 806 shares during the last quarter. Ffcm LLC boosted its position in shares of AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after acquiring an additional 963 shares during the last quarter. Bristlecone Advisors LLC acquired a new position in shares of AbbVie during the 3rd quarter valued at about $113,000. Finally, BDO Wealth Advisors LLC acquired a new position in shares of AbbVie during the 2nd quarter valued at about $115,000. 69.19% of the stock is currently owned by institutional investors.
Shares of AbbVie Inc (ABBV) opened at $102.49 on Wednesday. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. The stock has a market cap of $160,185.78, a PE ratio of 24.94, a price-to-earnings-growth ratio of 1.20 and a beta of 1.52. AbbVie Inc has a one year low of $59.27 and a one year high of $103.00.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.02. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 earnings per share. sell-side analysts anticipate that AbbVie Inc will post 5.54 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a yield of 2.77%. AbbVie’s dividend payout ratio is 69.10%.
In related news, SVP Timothy J. Richmond sold 87,040 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the sale, the senior vice president now directly owns 113,118 shares in the company, valued at $11,136,467.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Henry O. Gosebruch sold 18,300 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the sale, the insider now owns 81,287 shares in the company, valued at $7,360,537.85. The disclosure for this sale can be found here. Insiders have sold 494,676 shares of company stock worth $47,237,938 over the last quarter. Insiders own 0.23% of the company’s stock.
ABBV has been the topic of several research analyst reports. Evercore ISI restated an “outperform” rating and issued a $100.00 price objective (up from $95.00) on shares of AbbVie in a report on Saturday, September 30th. Societe Generale boosted their price objective on shares of AbbVie in a report on Tuesday, November 21st. BMO Capital Markets set a $84.00 price objective on shares of AbbVie and gave the company a “hold” rating in a report on Thursday, January 11th. Jefferies Group boosted their price objective on shares of AbbVie from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, January 4th. Finally, Barclays restated a “hold” rating and issued a $68.00 price objective on shares of AbbVie in a report on Thursday, September 28th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. AbbVie presently has an average rating of “Buy” and an average target price of $100.94.
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AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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