UMB Bank N A MO boosted its holdings in AbbVie Inc (NYSE:ABBV) by 9.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 220,094 shares of the company’s stock after purchasing an additional 19,293 shares during the quarter. UMB Bank N A MO’s holdings in AbbVie were worth $21,285,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Capital Research Global Investors increased its holdings in shares of AbbVie by 1.2% during the second quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock valued at $12,926,708,000 after acquiring an additional 2,130,919 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of AbbVie by 3.3% during the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after acquiring an additional 3,706,941 shares in the last quarter. BlackRock Inc. increased its holdings in shares of AbbVie by 2.0% during the second quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock valued at $6,821,375,000 after acquiring an additional 1,864,418 shares in the last quarter. Orbis Allan Gray Ltd increased its holdings in shares of AbbVie by 35.7% during the second quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after acquiring an additional 3,340,038 shares in the last quarter. Finally, Woodford Investment Management Ltd increased its holdings in shares of AbbVie by 8.6% during the second quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock valued at $859,589,000 after acquiring an additional 937,500 shares in the last quarter. Institutional investors and hedge funds own 70.63% of the company’s stock.
In other news, CFO William J. Chase sold 70,928 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $117.18, for a total transaction of $8,311,343.04. Following the transaction, the chief financial officer now owns 203,391 shares of the company’s stock, valued at approximately $23,833,357.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $120.31, for a total value of $119,347.52. The disclosure for this sale can be found here. In the last three months, insiders sold 443,747 shares of company stock worth $47,226,935. Insiders own 0.23% of the company’s stock.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.04. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The business had revenue of $7.74 billion for the quarter, compared to analysts’ expectations of $7.53 billion. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The business’s revenue was up 13.9% on a year-over-year basis. equities analysts expect that AbbVie Inc will post 7.48 EPS for the current year.
AbbVie declared that its Board of Directors has approved a share repurchase plan on Thursday, February 15th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.
The firm 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 $0.96 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.84 annualized dividend and a yield of 3.22%. This is a boost from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s payout ratio is currently 51.26%.
Several equities research analysts have recently commented on ABBV shares. BMO Capital Markets downgraded AbbVie from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $125.86 to $84.00 in a report on Monday, January 29th. They noted that the move was a valuation call. Zacks Investment Research downgraded AbbVie from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Credit Suisse Group set a $98.00 price objective on AbbVie and gave the company a “hold” rating in a report on Monday, January 22nd. Piper Jaffray Companies reaffirmed a “buy” rating on shares of AbbVie in a research report on Tuesday, January 2nd. Finally, SunTrust Banks lifted their target price on AbbVie to $157.00 and gave the company an “average” rating in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $120.96.
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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