AbbVie Inc. (NYSE:ABBV) Shares Bought by Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. boosted its stake in AbbVie Inc. (NYSE:ABBV) by 10.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,637 shares of the company’s stock after buying an additional 21,548 shares during the period. Oppenheimer & Co. Inc.’s holdings in AbbVie were worth $14,573,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of AbbVie during the fourth quarter valued at about $823,984,000. Legal & General Group Plc raised its stake in shares of AbbVie by 4.1% in the first quarter. Legal & General Group Plc now owns 7,918,192 shares of the company’s stock valued at $515,956,000 after buying an additional 312,055 shares during the period. Orbis Allan Gray Ltd raised its stake in shares of AbbVie by 11.8% in the fourth quarter. Orbis Allan Gray Ltd now owns 5,485,407 shares of the company’s stock valued at $343,496,000 after buying an additional 579,378 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of AbbVie by 5.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 5,420,301 shares of the company’s stock valued at $339,421,000 after buying an additional 296,622 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of AbbVie by 2.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 5,136,674 shares of the company’s stock valued at $334,706,000 after buying an additional 130,740 shares during the period. 67.89% of the stock is owned by hedge funds and other institutional investors.
Shares of AbbVie Inc. (ABBV) traded up 0.70% on Friday, reaching $70.93. The company had a trading volume of 738,978 shares. AbbVie Inc. has a 52 week low of $55.06 and a 52 week high of $75.04. The stock’s 50 day moving average is $72.13 and its 200 day moving average is $66.69. The firm has a market capitalization of $113.07 billion, a price-to-earnings ratio of 17.44 and a beta of 1.50.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.02. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The company had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period last year, the business earned $1.26 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. On average, equities analysts anticipate that AbbVie Inc. will post $5.52 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be paid a $0.64 dividend. 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 3.63%. AbbVie’s dividend payout ratio (DPR) is presently 62.90%.
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Several equities research analysts have issued reports on ABBV shares. Vetr raised AbbVie from a “buy” rating to a “strong-buy” rating and set a $74.38 price target for the company in a research note on Monday, May 8th. Credit Suisse Group reissued a “neutral” rating and issued a $74.00 target price (up previously from $65.00) on shares of AbbVie in a research note on Thursday, July 20th. BMO Capital Markets set a $63.00 target price on AbbVie and gave the company a “hold” rating in a research note on Thursday, April 27th. BidaskClub raised AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Finally, Leerink Swann reissued a “market perform” rating on shares of AbbVie in a research note on Thursday, June 22nd. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $74.66.
In other news, Chairman Richard A. Gonzalez sold 193,131 shares of the firm’s stock in a transaction on 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 completion of the sale, the chairman now directly owns 469,623 shares in the company, valued at $33,343,233. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO William J. Chase sold 38,300 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $65.35, for a total value of $2,502,905.00. Following the completion of the sale, the chief financial officer now owns 209,043 shares of the company’s stock, valued at $13,660,960.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 600,026 shares of company stock valued at $41,852,724. 0.23% of the stock is currently owned by corporate insiders.
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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