Canada Pension Plan Investment Board Has $240.82 Million Stake in AbbVie Inc (ABBV)
Canada Pension Plan Investment Board grew its position in shares of AbbVie Inc (NYSE:ABBV) by 25.4% during the third quarter, HoldingsChannel.com reports. The firm owned 2,710,060 shares of the company’s stock after buying an additional 549,200 shares during the period. Canada Pension Plan Investment Board’s holdings in AbbVie were worth $240,816,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Capital Research Global Investors grew its position in shares of AbbVie by 1.2% during the second quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock worth $12,926,708,000 after buying an additional 2,130,919 shares in the last quarter. Vanguard Group Inc. grew its position in shares of AbbVie by 3.3% during the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after buying an additional 3,706,941 shares in the last quarter. BlackRock Inc. grew its position in shares of AbbVie by 2.0% during the second quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock worth $6,821,375,000 after buying an additional 1,864,418 shares in the last quarter. Orbis Allan Gray Ltd grew its position in shares of AbbVie by 35.7% during the second quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after buying an additional 3,340,038 shares in the last quarter. Finally, Woodford Investment Management Ltd grew its position in shares of AbbVie by 8.6% during the second quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock worth $859,589,000 after buying an additional 937,500 shares in the last quarter. Institutional investors own 69.18% of the company’s stock.
In other AbbVie news, insider Laura J. Schumacher sold 145,510 shares of AbbVie stock in a transaction on Friday, December 15th. The shares were sold at an average price of $96.71, for a total value of $14,072,272.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Timothy J. Richmond sold 87,040 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the transaction, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 494,676 shares of company stock valued at $47,237,938. 0.23% of the stock is currently owned by corporate insiders.
A number of analysts have recently weighed in on ABBV shares. Societe Generale raised their price target on shares of AbbVie in a research report on Tuesday, November 21st. Jefferies Group reissued a “buy” rating and set a $107.00 price target on shares of AbbVie in a research report on Thursday, September 28th. Piper Jaffray Companies reissued a “buy” rating and set a $100.00 price target on shares of AbbVie in a research report on Friday, September 15th. SunTrust Banks reissued a “buy” rating and set a $95.00 price target on shares of AbbVie in a research report on Wednesday, September 13th. Finally, Argus raised their price target on shares of AbbVie from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, September 29th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. AbbVie has an average rating of “Buy” and a consensus target price of $100.94.
AbbVie Inc (ABBV) opened at $101.11 on Friday. The company has a market cap of $161,415.05, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 1.19 and a beta of 1.52. 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 Inc has a 1-year low of $59.27 and a 1-year high of $101.20.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.21 earnings per share. equities analysts forecast that AbbVie Inc will post 5.55 EPS for the current year.
The firm also recently disclosed 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 yield of 2.81%. 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 payout ratio is currently 62.29%.
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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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