AbbVie Inc (ABBV) Holdings Raised by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in AbbVie Inc (NYSE:ABBV) by 2.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 251,372 shares of the company’s stock after purchasing an additional 5,438 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in AbbVie were worth $22,337,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of AbbVie by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after buying an additional 3,706,941 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of AbbVie by 1,949.7% during the 2nd quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock valued at $277,967,000 after buying an additional 3,646,510 shares in the last quarter. Orbis Allan Gray Ltd lifted its stake in shares of AbbVie by 35.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after buying an additional 3,340,038 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of AbbVie by 1.2% during the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock valued at $12,926,708,000 after buying an additional 2,130,919 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in shares of AbbVie by 2.0% during the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock valued at $6,821,375,000 after buying an additional 1,864,418 shares in the last quarter. 69.18% of the stock is owned by institutional investors and hedge funds.
Shares of AbbVie Inc (NYSE:ABBV) opened at $99.69 on Thursday. AbbVie Inc has a 52 week low of $59.27 and a 52 week high of $101.28. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. The stock has a market cap of $158,920.00, a P/E ratio of 24.20, a price-to-earnings-growth ratio of 1.20 and a beta of 1.53.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.02. The firm 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 quarter in the prior year, the firm earned $1.21 EPS. equities analysts anticipate that AbbVie Inc will post 5.55 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a $0.71 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.85%. AbbVie’s dividend payout ratio is presently 62.14%.
In other news, insider Henry O. Gosebruch sold 18,300 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $90.55, for a total value of $1,657,065.00. Following the transaction, the insider now owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Timothy J. Richmond sold 87,040 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 113,118 shares in the company, valued at approximately $11,136,467.10. The disclosure for this sale can be found here. Insiders sold a total of 494,676 shares of company stock worth $47,237,938 in the last three months. Insiders own 0.23% of the company’s stock.
A number of brokerages recently commented on ABBV. Leerink Swann set a $106.00 price target on shares of AbbVie and gave the company a “buy” rating in a research note on Tuesday, December 5th. Argus upped their price target on shares of AbbVie from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, September 29th. UBS Group cut shares of AbbVie from a “buy” rating to a “neutral” rating and upped their price target for the company from $79.00 to $92.00 in a research note on Monday, September 25th. SunTrust Banks reiterated a “buy” rating and issued a $95.00 target price on shares of AbbVie in a research note on Wednesday, September 13th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $100.00 target price on shares of AbbVie in a research note on Friday, September 15th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus 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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