Commerzbank Aktiengesellschaft FI Trims Holdings in AbbVie Inc. (ABBV)
Commerzbank Aktiengesellschaft FI decreased its position in AbbVie Inc. (NYSE:ABBV) by 73.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,361 shares of the company’s stock after selling 51,885 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in AbbVie were worth $1,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp grew its position in AbbVie by 2.4% in the 1st quarter. State Street Corp now owns 72,969,530 shares of the company’s stock valued at $4,754,696,000 after acquiring an additional 1,696,042 shares during the last quarter. Prudential Financial Inc. grew its position in AbbVie by 41.5% in the 2nd quarter. Prudential Financial Inc. now owns 5,469,241 shares of the company’s stock valued at $396,575,000 after acquiring an additional 1,603,748 shares during the last quarter. Comerica Bank grew its position in AbbVie by 81.7% in the 2nd quarter. Comerica Bank now owns 1,849,149 shares of the company’s stock valued at $136,671,000 after acquiring an additional 831,625 shares during the last quarter. Bank of Nova Scotia grew its position in AbbVie by 297.9% in the 1st quarter. Bank of Nova Scotia now owns 606,321 shares of the company’s stock valued at $39,507,000 after acquiring an additional 453,955 shares during the last quarter. Finally, Artemis Investment Management LLP grew its position in AbbVie by 52.9% in the 2nd quarter. Artemis Investment Management LLP now owns 1,055,834 shares of the company’s stock valued at $76,543,000 after acquiring an additional 365,259 shares during the last quarter. 69.32% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AbbVie Inc. (NYSE:ABBV) opened at $96.32 on Friday. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. The firm has a market capitalization of $153,768.14, a price-to-earnings ratio of 18.14, a P/E/G ratio of 1.36 and a beta of 1.52. AbbVie Inc. has a 12 month low of $58.80 and a 12 month high of $98.52.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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 firm 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%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 EPS. analysts anticipate that AbbVie Inc. will post 5.55 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a dividend of $0.71 per share. This is a boost from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Thursday, January 11th. AbbVie’s dividend payout ratio is 62.29%.
In other AbbVie news, VP Robert A. Michael sold 6,699 shares of the stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the sale, the vice president now directly owns 10,007 shares in the company, valued at $880,616. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael Severino sold 25,633 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $94.69, for a total value of $2,427,188.77. Following the completion of the sale, the executive vice president now owns 114,922 shares of the company’s stock, valued at $10,881,964.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 277,125 shares of company stock valued at $25,891,756. 0.23% of the stock is currently owned by company insiders.
Several equities analysts have commented on ABBV shares. Societe Generale upped their price objective on AbbVie in a research report on Tuesday, November 21st. Jefferies Group reiterated a “buy” rating and issued a $107.00 target price (up from $94.00) on shares of AbbVie in a report on Friday, September 15th. Piper Jaffray Companies reiterated a “buy” rating and issued a $100.00 target price on shares of AbbVie in a report on Friday, September 15th. SunTrust Banks reiterated a “buy” rating and issued a $95.00 target price on shares of AbbVie in a report on Wednesday, September 13th. Finally, Goldman Sachs Group reiterated a “buy” rating and issued a $100.00 target price (up from $85.00) on shares of AbbVie in a report on Friday, September 8th. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $96.72.
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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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