Voya Investment Management LLC Sells 32,181 Shares of AbbVie Inc. (ABBV)
Voya Investment Management LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 920,095 shares of the company’s stock after selling 32,181 shares during the quarter. Voya Investment Management LLC owned 0.06% of AbbVie worth $66,716,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Ontario Teachers Pension Plan Board raised its position in AbbVie by 54.9% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 51,476 shares of the company’s stock worth $3,733,000 after buying an additional 18,247 shares during the last quarter. Veritable L.P. increased its holdings in shares of AbbVie by 0.6% during the 2nd quarter. Veritable L.P. now owns 136,808 shares of the company’s stock valued at $9,920,000 after purchasing an additional 766 shares in the last quarter. Bancorpsouth Inc. increased its holdings in shares of AbbVie by 1.8% during the 2nd quarter. Bancorpsouth Inc. now owns 28,985 shares of the company’s stock valued at $2,102,000 after purchasing an additional 526 shares in the last quarter. Epoch Investment Partners Inc. increased its holdings in shares of AbbVie by 8.1% during the 2nd quarter. Epoch Investment Partners Inc. now owns 8,361,710 shares of the company’s stock valued at $606,307,000 after purchasing an additional 628,431 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of AbbVie by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,009,018 shares of the company’s stock valued at $290,697,000 after purchasing an additional 133,249 shares in the last quarter. 69.32% of the stock is owned by institutional investors.
In related news, VP Robert A. Michael sold 6,699 shares of AbbVie stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the sale, the vice president now owns 10,007 shares of the company’s stock, valued at approximately $880,616. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the completion of the sale, the chairman now directly owns 492,030 shares in the company, valued at approximately $46,255,740.30. The disclosure for this sale can be found here. Insiders sold a total of 277,125 shares of company stock worth $25,891,756 in the last three months. 0.23% of the stock is owned by corporate insiders.
Several research firms have recently weighed in on ABBV. UBS reaffirmed a “neutral” rating on shares of AbbVie in a report on Friday, October 13th. Jefferies Group lifted their target price on shares of AbbVie from $107.00 to $115.00 and gave the company a “buy” rating in a report on Monday, October 16th. Cowen reaffirmed a “hold” rating and set a $95.00 target price (up from $70.00) on shares of AbbVie in a report on Monday, September 11th. Evercore ISI began coverage on shares of AbbVie in a report on Wednesday, August 16th. They set an “outperform” rating and a $95.00 target price for the company. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $84.00 target price on shares of AbbVie in a report on Tuesday, November 21st. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $97.96.
Shares of AbbVie Inc. (NYSE ABBV) opened at $95.95 on Friday. AbbVie Inc. has a one year low of $59.27 and a one year high of $98.52. The stock has a market cap of $150,447.55, a price-to-earnings ratio of 17.75, a P/E/G ratio of 1.31 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 (NYSE:ABBV) last released its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter last year, the company earned $1.21 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. equities analysts expect that AbbVie Inc. will post 5.55 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a $0.71 dividend. The ex-dividend date is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a yield of 2.96%. This is a boost from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio (DPR) is currently 62.29%.
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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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