Amica Mutual Insurance Co. Has $5,320,000 Stake in AbbVie Inc. (ABBV)
Amica Mutual Insurance Co. held its position in shares of AbbVie Inc. (NYSE:ABBV) during the third quarter, Holdings Channel reports. The firm owned 84,346 shares of the company’s stock at the end of the third quarter. Amica Mutual Insurance Co.’s holdings in AbbVie were worth $5,320,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of ABBV. Capital Research Global Investors boosted its stake in AbbVie by 100.6% in the second quarter. Capital Research Global Investors now owns 152,718,713 shares of the company’s stock worth $9,439,710,000 after buying an additional 76,593,054 shares during the last quarter. Vanguard Group Inc. boosted its stake in AbbVie by 1.0% in the second quarter. Vanguard Group Inc. now owns 104,083,008 shares of the company’s stock worth $6,443,780,000 after buying an additional 998,196 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in AbbVie by 0.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 42,335,781 shares of the company’s stock worth $2,621,008,000 after buying an additional 370,153 shares during the last quarter. BlackRock Fund Advisors boosted its stake in AbbVie by 1.2% in the second quarter. BlackRock Fund Advisors now owns 20,072,568 shares of the company’s stock worth $1,242,693,000 after buying an additional 241,624 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in AbbVie by 52.4% in the second quarter. Ameriprise Financial Inc. now owns 10,364,784 shares of the company’s stock worth $641,739,000 after buying an additional 3,562,980 shares during the last quarter. Institutional investors and hedge funds own 66.49% of the company’s stock.
AbbVie Inc. (NYSE:ABBV) opened at 61.99 on Friday. The stock’s 50 day moving average price is $61.81 and its 200 day moving average price is $62.87. The stock has a market cap of $100.74 billion, a price-to-earnings ratio of 16.76 and a beta of 1.58. AbbVie Inc. has a one year low of $51.60 and a one year high of $68.12.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, October 28th. The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.55 billion. AbbVie had a return on equity of 150.77% and a net margin of 24.08%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.13 earnings per share. Equities analysts predict that AbbVie Inc. will post $4.82 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 13th will be issued a dividend of $0.64 per share. This is an increase from AbbVie’s previous quarterly dividend of $0.57. This represents a $2.56 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend is Wednesday, January 11th. AbbVie’s dividend payout ratio is presently 69.19%.
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A number of equities research analysts have recently commented on ABBV shares. Jefferies Group reiterated a “buy” rating and set a $90.00 target price on shares of AbbVie in a research note on Wednesday, October 5th. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Wednesday, September 28th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $78.00 target price on shares of AbbVie in a research note on Tuesday, September 27th. Citigroup Inc. reiterated a “buy” rating on shares of AbbVie in a research note on Tuesday, November 8th. Finally, Vetr cut AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.75 target price on the stock. in a research note on Monday, November 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. AbbVie presently has an average rating of “Hold” and an average price target of $70.25.
In other news, CFO William J. Chase sold 6,600 shares of the company’s stock in a transaction on Friday, December 2nd. The stock was sold at an average price of $59.19, for a total transaction of $390,654.00. Following the transaction, the chief financial officer now directly owns 178,970 shares of the company’s stock, valued at $10,593,234.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.11% of the company’s stock.
AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company operates in pharmaceutical products segment. 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 (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions.
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