AbbVie Inc. (ABBV) Position Lowered by Sanders Capital LLC
Sanders Capital LLC cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 623,133 shares of the company’s stock after selling 200 shares during the period. Sanders Capital LLC’s holdings in AbbVie were worth $40,603,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Access Financial Services Inc. bought a new stake in AbbVie during the fourth quarter valued at approximately $1,329,000. Dodge & Cox bought a new stake in AbbVie during the fourth quarter valued at approximately $2,081,000. Lincoln Capital Corp bought a new stake in AbbVie during the fourth quarter valued at approximately $3,457,000. Pekin Singer Strauss Asset Management IL increased its stake in AbbVie by 2.4% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 54,430 shares of the company’s stock valued at $3,408,000 after buying an additional 1,270 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in AbbVie during the fourth quarter valued at approximately $648,000. 67.69% of the stock is owned by institutional investors.
AbbVie Inc. (ABBV) traded up 0.11% during midday trading on Tuesday, hitting $70.90. The stock had a trading volume of 589,934 shares. AbbVie Inc. has a 52 week low of $55.06 and a 52 week high of $75.04. The stock has a market cap of $113.02 billion, a P/E ratio of 17.44 and a beta of 1.50. The company has a 50-day moving average price of $72.00 and a 200-day moving average price of $66.91.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 28th. The company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.02. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The firm had revenue of $6.94 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts expect that AbbVie Inc. will post $5.52 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.61%. AbbVie’s dividend payout ratio is presently 62.90%.
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ABBV has been the subject of several recent analyst reports. BMO Capital Markets reissued a “hold” rating and issued a $63.00 price objective on shares of AbbVie in a report on Tuesday, April 18th. Leerink Swann set a $71.00 price objective on AbbVie and gave the company a “hold” rating in a report on Thursday, April 20th. Deutsche Bank AG increased their price objective on AbbVie from $64.00 to $65.00 and gave the company a “hold” rating in a report on Friday, April 28th. Vetr downgraded AbbVie from a “strong-buy” rating to a “buy” rating and set a $74.98 price target for the company. in a report on Thursday, May 4th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of AbbVie in a report on Friday, May 26th. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $74.66.
In related news, CFO William J. Chase sold 38,300 shares of the stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $65.35, for a total transaction of $2,502,905.00. Following the sale, the chief financial officer now owns 209,043 shares of the company’s stock, valued at approximately $13,660,960.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard A. Gonzalez sold 193,131 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $71.00, for a total value of $13,712,301.00. Following the sale, the chairman now directly owns 469,623 shares in the company, valued at approximately $33,343,233. The disclosure for this sale can be found here. Insiders have sold a total of 600,026 shares of company stock worth $41,852,724 in the last ninety days. Insiders own 0.23% of the company’s stock.
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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