Greenleaf Trust Has $3.26 Million Position in AbbVie Inc (ABBV)
Greenleaf Trust lowered its position in AbbVie Inc (NYSE:ABBV) by 7.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,506 shares of the company’s stock after selling 2,680 shares during the quarter. Greenleaf Trust’s holdings in AbbVie were worth $3,264,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in ABBV. Morgan Stanley lifted its position in AbbVie by 3.2% in the second quarter. Morgan Stanley now owns 11,134,470 shares of the company’s stock valued at $1,031,608,000 after buying an additional 348,882 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of AbbVie by 15.9% during the second quarter. Janus Henderson Group PLC now owns 5,243,956 shares of the company’s stock worth $485,867,000 after purchasing an additional 717,452 shares in the last quarter. Bank of Montreal Can lifted its position in shares of AbbVie by 9.2% during the third quarter. Bank of Montreal Can now owns 5,210,247 shares of the company’s stock worth $492,786,000 after purchasing an additional 438,201 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of AbbVie by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 4,824,617 shares of the company’s stock worth $447,001,000 after purchasing an additional 157,594 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of AbbVie by 22.3% during the second quarter. Schroder Investment Management Group now owns 2,479,960 shares of the company’s stock worth $229,223,000 after purchasing an additional 451,903 shares in the last quarter. 69.85% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently issued reports on the stock. BMO Capital Markets reduced their price target on shares of AbbVie from $78.00 to $71.00 and set an “underperform” rating on the stock in a research report on Monday, November 5th. Credit Suisse Group set a $85.00 price target on shares of AbbVie and gave the stock a “hold” rating in a research report on Friday, November 2nd. ValuEngine raised shares of AbbVie from a “sell” rating to a “hold” rating in a research report on Monday, November 12th. Bank of America increased their price target on shares of AbbVie from $105.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, August 22nd. Finally, Argus reduced their price target on shares of AbbVie from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, November 6th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $103.68.
Shares of NYSE:ABBV opened at $90.55 on Thursday. The company has a market capitalization of $136.21 billion, a P/E ratio of 16.17, a PEG ratio of 0.84 and a beta of 1.68. AbbVie Inc has a fifty-two week low of $77.50 and a fifty-two week high of $125.86. The company has a debt-to-equity ratio of 8.70, a quick ratio of 1.08 and a current ratio of 1.20.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, November 2nd. The company reported $2.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.01 by $0.13. The firm had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.23 billion. AbbVie had a net margin of 23.50% and a return on equity of 2,006.63%. The firm’s revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.41 earnings per share. As a group, analysts predict that AbbVie Inc will post 7.93 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Tuesday, January 15th will be issued a $1.07 dividend. This is a boost from AbbVie’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Monday, January 14th. This represents a $4.28 annualized dividend and a yield of 4.73%. AbbVie’s dividend payout ratio (DPR) is 68.57%.
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AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.
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