Schroder Investment Management Group Has $250.45 Million Stake in AbbVie Inc. (ABBV)
Schroder Investment Management Group trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 5.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,455,458 shares of the company’s stock after selling 214,262 shares during the period. Schroder Investment Management Group owned about 0.22% of AbbVie worth $250,453,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of ABBV. State Street Corp grew its holdings in shares of AbbVie by 2.4% in the 1st quarter. State Street Corp now owns 72,969,530 shares of the company’s stock worth $4,754,696,000 after acquiring an additional 1,696,042 shares during the period. Legal & General Group Plc grew its holdings in shares of AbbVie by 1.7% in the 2nd quarter. Legal & General Group Plc now owns 8,049,351 shares of the company’s stock worth $583,658,000 after acquiring an additional 131,159 shares during the period. LSV Asset Management grew its holdings in shares of AbbVie by 4.7% in the 2nd quarter. LSV Asset Management now owns 6,628,586 shares of the company’s stock worth $480,638,000 after acquiring an additional 295,076 shares during the period. Swiss National Bank grew its holdings in AbbVie by 1.1% during the 2nd quarter. Swiss National Bank now owns 5,823,829 shares of the company’s stock valued at $422,286,000 after buying an additional 65,600 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in AbbVie by 41.5% during the 2nd quarter. Prudential Financial Inc. now owns 5,469,241 shares of the company’s stock valued at $396,575,000 after buying an additional 1,603,748 shares during the last quarter. 69.32% of the stock is owned by institutional investors and hedge funds.
AbbVie Inc. (ABBV) opened at $94.40 on Thursday. AbbVie Inc. has a 52 week low of $58.80 and a 52 week high of $98.52. The firm has a market capitalization of $152,315.39, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08.
AbbVie (NYSE:ABBV) last issued 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. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. During the same quarter in the prior year, the company posted $1.21 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. sell-side analysts expect that AbbVie Inc. will post 5.55 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio is currently 62.29%.
A number of equities research analysts have commented on ABBV shares. Evercore ISI started coverage on AbbVie in a report on Wednesday, August 16th. They set an “outperform” rating and a $95.00 target price on the stock. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Jefferies Group reiterated a “buy” rating and set a $94.00 target price on shares of AbbVie in a report on Friday, September 8th. Goldman Sachs Group reiterated a “buy” rating and set a $100.00 target price (up previously from $85.00) on shares of AbbVie in a report on Friday, September 8th. Finally, Cowen reiterated a “hold” rating and set a $95.00 target price (up previously from $70.00) on shares of AbbVie in a report on Monday, September 11th. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. AbbVie currently has an average rating of “Buy” and a consensus price target of $96.66.
In related news, Chairman Richard A. Gonzalez sold 218,193 shares of the stock in a transaction 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 transaction, the chairman now directly owns 492,030 shares of the company’s stock, valued at approximately $46,255,740.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $85.02, for a total value of $705,666.00. Following the completion of the transaction, the senior vice president now directly owns 93,099 shares in the company, valued at $7,915,276.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 277,125 shares of company stock worth $25,891,756. Corporate insiders own 0.23% of the company’s stock.
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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