AbbVie Inc (ABBV) Holdings Boosted by Gamco Investors INC. ET AL
Gamco Investors INC. ET AL grew its stake in shares of AbbVie Inc (NYSE:ABBV) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,900 shares of the company’s stock after buying an additional 150 shares during the period. Gamco Investors INC. ET AL’s holdings in AbbVie were worth $728,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Capital International Investors raised its position in shares of AbbVie by 266.4% during the third quarter. Capital International Investors now owns 27,594,648 shares of the company’s stock worth $2,609,902,000 after purchasing an additional 20,063,435 shares during the period. Capital World Investors raised its position in shares of AbbVie by 74.9% during the third quarter. Capital World Investors now owns 25,359,025 shares of the company’s stock worth $2,398,457,000 after purchasing an additional 10,858,432 shares during the period. Matthew Goff Investment Advisor LLC raised its position in shares of AbbVie by 9,165.1% during the third quarter. Matthew Goff Investment Advisor LLC now owns 2,226,305 shares of the company’s stock worth $24,029,000 after purchasing an additional 2,202,276 shares during the period. FMR LLC raised its position in shares of AbbVie by 22.1% during the third quarter. FMR LLC now owns 8,707,454 shares of the company’s stock worth $823,551,000 after purchasing an additional 1,574,495 shares during the period. Finally, Federated Investors Inc. PA raised its position in shares of AbbVie by 66.8% during the third quarter. Federated Investors Inc. PA now owns 3,669,632 shares of the company’s stock worth $347,074,000 after purchasing an additional 1,469,718 shares during the period. Hedge funds and other institutional investors own 68.40% of the company’s stock.
Shares of AbbVie stock opened at $81.34 on Friday. AbbVie Inc has a 52-week low of $75.77 and a 52-week high of $116.73. The company has a market capitalization of $119.98 billion, a P/E ratio of 10.28, a PEG ratio of 1.19 and a beta of 1.17.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio is presently 54.11%.
AbbVie declared that its board has authorized a share buyback plan on Thursday, December 13th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
A number of research firms have recently commented on ABBV. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Tuesday, January 8th. Bank of America lowered AbbVie from a “buy” rating to a “neutral” rating in a research report on Thursday, January 3rd. UBS Group reaffirmed a “neutral” rating and set a $91.00 price target (down previously from $97.00) on shares of AbbVie in a research report on Wednesday, January 23rd. Credit Suisse Group raised AbbVie to a “hold” rating and set a $79.00 price target on the stock in a research report on Thursday, January 17th. Finally, Morgan Stanley set a $88.00 target price on AbbVie and gave the company a “hold” rating in a research report on Thursday, December 20th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. AbbVie has an average rating of “Hold” and an average price target of $94.48.
In other AbbVie news, EVP Azita Saleki-Gerhardt sold 15,797 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $79.03, for a total value of $1,248,436.91. Following the completion of the transaction, the executive vice president now directly owns 93,312 shares in the company, valued at $7,374,447.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Laura J. Schumacher sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $90.00, for a total value of $2,250,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 90,797 shares of company stock worth $7,748,437. 0.07% of the stock is owned by insiders.
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AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C.
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