Blue Granite Capital LLC Lowers Holdings in AbbVie Inc (ABBV)
Blue Granite Capital LLC lowered its position in shares of AbbVie Inc (NYSE:ABBV) by 60.8% in the third quarter, HoldingsChannel.com reports. The fund owned 20,486 shares of the company’s stock after selling 31,769 shares during the quarter. AbbVie comprises about 1.3% of Blue Granite Capital LLC’s portfolio, making the stock its 29th largest holding. Blue Granite Capital LLC’s holdings in AbbVie were worth $1,822,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of ABBV. Nwam LLC lifted its holdings in shares of AbbVie by 17.1% in the 3rd quarter. Nwam LLC now owns 5,311 shares of the company’s stock valued at $472,000 after buying an additional 776 shares during the period. State of Wisconsin Investment Board lifted its holdings in shares of AbbVie by 11.3% in the 3rd quarter. State of Wisconsin Investment Board now owns 1,623,766 shares of the company’s stock valued at $144,288,000 after buying an additional 165,074 shares during the period. Mn Services Vermogensbeheer B.V. lifted its holdings in shares of AbbVie by 0.7% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 262,490 shares of the company’s stock valued at $23,325,000 after buying an additional 1,900 shares during the period. Old Mutual Global Investors UK Ltd. lifted its holdings in shares of AbbVie by 36.9% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 24,868 shares of the company’s stock valued at $2,209,000 after buying an additional 6,700 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of AbbVie by 2.2% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 251,372 shares of the company’s stock valued at $22,337,000 after buying an additional 5,438 shares during the period. 69.18% of the stock is owned by institutional investors.
In other AbbVie news, insider Henry O. Gosebruch sold 18,300 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the completion of the sale, the insider now directly owns 81,287 shares in the company, valued at approximately $7,360,537.85. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the sale, the chairman now owns 492,030 shares of the company’s stock, valued at $46,255,740.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 494,676 shares of company stock valued at $47,237,938. 0.23% of the stock is owned by company insiders.
AbbVie Inc (NYSE:ABBV) opened at $99.27 on Friday. The firm has a market capitalization of $158,250.00, a PE ratio of 24.09, a P/E/G ratio of 1.20 and a beta of 1.53. AbbVie Inc has a fifty-two week low of $59.27 and a fifty-two 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.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. AbbVie’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 EPS. analysts forecast that AbbVie Inc will post 5.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a $0.71 dividend. This is a boost from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a yield of 2.86%. AbbVie’s dividend payout ratio is presently 62.14%.
Several brokerages have recently issued reports on ABBV. BMO Capital Markets set a $84.00 price objective on AbbVie and gave the company a “hold” rating in a report on Thursday. Leerink Swann set a $106.00 price objective on AbbVie and gave the company a “buy” rating in a report on Tuesday, December 5th. Argus boosted their price objective on AbbVie from $90.00 to $110.00 and gave the company a “buy” rating in a report on Friday, September 29th. UBS Group cut AbbVie from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $79.00 to $92.00 in a report on Monday, September 25th. Finally, Jefferies Group reissued a “buy” rating and issued a $107.00 price objective on shares of AbbVie in a report on Thursday, September 28th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. AbbVie 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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