AbbVie Inc. (ABBV) Shares Bought by Legal & General Group Plc
Legal & General Group Plc raised its holdings in AbbVie Inc. (NYSE:ABBV) by 1.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,049,351 shares of the company’s stock after buying an additional 131,159 shares during the period. Legal & General Group Plc owned about 0.51% of AbbVie worth $583,658,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. Princeton Capital Management Inc. bought a new position in shares of AbbVie during the second quarter worth approximately $1,394,000. Accident Compensation Corp increased its stake in shares of AbbVie by 24.7% during the first quarter. Accident Compensation Corp now owns 66,200 shares of the company’s stock worth $4,314,000 after purchasing an additional 13,100 shares during the period. Savant Capital LLC increased its stake in shares of AbbVie by 1.3% during the second quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock worth $4,433,000 after purchasing an additional 793 shares during the period. Investec Asset Management LTD increased its stake in shares of AbbVie by 3.6% during the first quarter. Investec Asset Management LTD now owns 166,978 shares of the company’s stock worth $10,880,000 after purchasing an additional 5,801 shares during the period. Finally, Palisade Asset Management LLC increased its stake in shares of AbbVie by 17.9% during the second quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock worth $4,953,000 after purchasing an additional 10,381 shares during the period. Hedge funds and other institutional investors own 68.52% of the company’s stock.
In related news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $85.02, for a total transaction of $705,666.00. Following the sale, the senior vice president now owns 93,099 shares of the company’s stock, valued at approximately $7,915,276.98. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Henry O. Gosebruch sold 18,300 shares of the firm’s 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 sale, the insider now directly owns 81,287 shares in the company, valued at approximately $7,360,537.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,299 shares of company stock worth $2,952,243. Company insiders own 0.23% of the company’s stock.
A number of equities analysts have recently weighed in on ABBV shares. BidaskClub lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Vetr upgraded AbbVie from a “hold” rating to a “buy” rating and set a $76.28 target price on the stock in a research note on Wednesday, July 26th. Jefferies Group LLC reiterated a “buy” rating and set a $94.00 target price (up previously from $92.00) on shares of AbbVie in a research note on Monday, July 17th. Piper Jaffray Companies reiterated a “buy” rating and set a $85.00 target price on shares of AbbVie in a research note on Thursday, August 3rd. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $100.00 target price (up previously from $85.00) on shares of AbbVie in a research note on Friday, September 8th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $93.68.
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Shares of AbbVie Inc. (ABBV) opened at $92.96 on Tuesday. The firm has a market capitalization of $147,150.91, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 1.28 and a beta of 1.51. AbbVie Inc. has a twelve month low of $55.87 and a twelve month high of $98.26. The company has a quick ratio of 1.25, a current ratio of 1.38 and a debt-to-equity ratio of 5.63.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.02. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. AbbVie had a return on equity of 164.66% and a net margin of 24.38%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 EPS. equities research analysts expect that AbbVie Inc. will post 5.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Thursday, January 11th. This is an increase from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio (DPR) is currently 62.29%.
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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