Factory Mutual Insurance Co. Has $30.35 Million Holdings in AbbVie Inc (ABBV)
Factory Mutual Insurance Co. lessened its position in shares of AbbVie Inc (NYSE:ABBV) by 2.1% in the 4th quarter, HoldingsChannel reports. The fund owned 313,800 shares of the company’s stock after selling 6,700 shares during the period. Factory Mutual Insurance Co.’s holdings in AbbVie were worth $30,348,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Hudock Capital Group LLC lifted its position in shares of AbbVie by 109.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after buying an additional 806 shares during the last quarter. Ffcm LLC lifted its position in shares of AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after buying an additional 963 shares during the last quarter. Bristlecone Advisors LLC purchased a new stake in shares of AbbVie during the 3rd quarter worth approximately $113,000. BDO Wealth Advisors LLC purchased a new stake in shares of AbbVie during the 2nd quarter worth approximately $115,000. Finally, Hershey Trust Co. purchased a new stake in shares of AbbVie during the 3rd quarter worth approximately $139,000. Institutional investors own 69.49% of the company’s stock.
AbbVie Inc (NYSE ABBV) opened at $115.04 on Friday. The company has a market cap of $180,774.84, a price-to-earnings ratio of 34.97, a price-to-earnings-growth ratio of 1.08 and a beta of 1.52. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.18 and a current ratio of 1.28. AbbVie Inc has a 12-month low of $62.83 and a 12-month high of $125.86.
AbbVie declared that its board has authorized a share buyback program on Thursday, February 15th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.84 dividend on an annualized basis and a yield of 3.34%. This is an increase from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s dividend payout ratio is presently 86.32%.
In other AbbVie news, CFO William J. Chase sold 70,928 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $117.18, for a total transaction of $8,311,343.04. Following the completion of the transaction, the chief financial officer now owns 203,391 shares in the company, valued at approximately $23,833,357.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Robert A. Michael sold 992 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $120.31, for a total transaction of $119,347.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 443,747 shares of company stock valued at $47,226,935. 0.23% of the stock is owned by insiders.
Several analysts have recently weighed in on ABBV shares. Jefferies Group set a $145.00 price objective on shares of AbbVie and gave the stock a “buy” rating in a research report on Monday, February 26th. BidaskClub upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 11th. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research report on Tuesday, January 2nd. Vetr upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $113.08 price target for the company in a research report on Wednesday, December 20th. Finally, Credit Suisse Group set a $98.00 price target on shares of AbbVie and gave the company a “hold” rating in a research report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. AbbVie has an average rating of “Buy” and an average price target of $120.01.
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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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