AbbVie Inc. (ABBV) Stake Lifted by LMR Partners LLP
LMR Partners LLP lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,559 shares of the company’s stock after purchasing an additional 1,566 shares during the period. LMR Partners LLP’s holdings in AbbVie were worth $3,086,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in ABBV. State Street Corp boosted its holdings in shares of AbbVie by 2.4% during the 1st quarter. State Street Corp now owns 72,969,530 shares of the company’s stock worth $4,754,696,000 after buying an additional 1,696,042 shares during the period. Wedge Capital Management L L P NC bought a new stake in shares of AbbVie during the 1st quarter worth about $46,744,000. Bank of Nova Scotia boosted its holdings in shares of AbbVie by 297.9% during the 1st quarter. Bank of Nova Scotia now owns 606,321 shares of the company’s stock worth $39,507,000 after buying an additional 453,955 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of AbbVie by 42.3% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 1,202,483 shares of the company’s stock worth $78,354,000 after buying an additional 357,353 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of AbbVie by 58.6% during the 1st quarter. AQR Capital Management LLC now owns 940,824 shares of the company’s stock worth $61,304,000 after buying an additional 347,710 shares during the period. Institutional investors own 68.49% of the company’s stock.
Shares of AbbVie Inc. (ABBV) opened at $92.31 on Friday. AbbVie Inc. has a twelve month low of $55.87 and a twelve month high of $98.26. The company has a current ratio of 1.38, a quick ratio of 1.25 and a debt-to-equity ratio of 5.63. The firm has a market cap of $147,150.91, a P/E ratio of 17.38, a PEG ratio of 1.26 and a beta of 1.51.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 164.66%. The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the prior year, the firm posted $1.21 EPS. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. research analysts forecast that AbbVie Inc. will post 5.55 earnings per share for the current year.
The company 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 dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.08%. 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 is 62.29%.
ABBV has been the subject of several research analyst reports. Jefferies Group LLC lifted their target price on shares of AbbVie from $107.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, October 16th. BidaskClub raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Cowen and Company raised shares of AbbVie from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $91.17 to $105.00 in a report on Wednesday, October 11th. BMO Capital Markets set a $66.00 target price on shares of AbbVie and gave the stock a “hold” rating in a report on Friday, October 27th. Finally, Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $100.00 price objective (up previously from $85.00) on shares of AbbVie in a report on Friday, September 8th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $93.68.
In related news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $85.02, for a total transaction of $705,666.00. Following the completion of the transaction, the senior vice president now directly owns 93,099 shares in the company, valued at approximately $7,915,276.98. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Richard A. Gonzalez sold 193,131 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $71.00, for a total transaction of $13,712,301.00. Following the transaction, the chairman now owns 469,623 shares of the company’s stock, valued at $33,343,233. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 226,430 shares of company stock valued at $16,664,544. 0.23% of the stock is currently owned by insiders.
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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