Strs Ohio cut its stake in AbbVie Inc (NYSE:ABBV) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 977,839 shares of the company’s stock after selling 19,403 shares during the period. Strs Ohio owned approximately 0.06% of AbbVie worth $94,566,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC bought a new stake in AbbVie during the third quarter worth approximately $544,418,000. Capital International Investors boosted its holdings in AbbVie by 137.7% during the third quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock worth $697,989,000 after buying an additional 4,550,954 shares in the last quarter. Vanguard Group Inc. boosted its holdings in AbbVie by 3.3% during the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after buying an additional 3,706,941 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in AbbVie by 1,949.7% during the second quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock worth $277,967,000 after buying an additional 3,646,510 shares in the last quarter. Finally, Orbis Allan Gray Ltd boosted its holdings in AbbVie by 35.7% during the second quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after buying an additional 3,340,038 shares in the last quarter. Institutional investors and hedge funds own 70.63% of the company’s stock.
A number of analysts recently weighed in on the stock. Argus raised their target price on shares of AbbVie from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. BMO Capital Markets lowered shares of AbbVie from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $125.86 to $84.00 in a research note on Monday, January 29th. They noted that the move was a valuation call. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research note on Thursday, January 18th. Piper Jaffray Companies raised their price objective on shares of AbbVie from $130.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $144.00 price objective on shares of AbbVie in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. AbbVie presently has a consensus rating of “Buy” and an average price target of $120.96.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.04. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The company had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The company’s revenue was up 13.9% compared to the same quarter last year. equities analysts expect that AbbVie Inc will post 7.48 earnings per share for the current year.
The business also recently announced 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. This is an increase from AbbVie’s previous quarterly dividend of $0.71. 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 3.25%. AbbVie’s dividend payout ratio is presently 51.26%.
AbbVie announced that its board has initiated a share repurchase program on Thursday, February 15th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In other AbbVie news, insider Laura J. Schumacher sold 25,000 shares of the stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $117.85, for a total value of $2,946,250.00. Following the completion of the sale, the insider now owns 123,317 shares in the company, valued at approximately $14,532,908.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Robert A. Michael sold 4,294 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $119.43, for a total transaction of $512,832.42. Following the completion of the sale, the vice president now owns 11,170 shares of the company’s stock, valued at approximately $1,334,033.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 443,747 shares of company stock valued at $47,226,935. Insiders own 0.23% of the company’s stock.
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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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