Bredin Investment LLC bought a new position in shares of AbbVie Inc (NYSE:ABBV) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 20,130 shares of the company’s stock, valued at approximately $1,981,000. AbbVie accounts for approximately 1.6% of Bredin Investment LLC’s portfolio, making the stock its 13th biggest holding.
A number of other large investors have also recently added to or reduced their stakes in ABBV. Marshall Wace North America L.P. lifted its holdings in AbbVie by 510.9% during the 2nd quarter. Marshall Wace North America L.P. now owns 111,274 shares of the company’s stock worth $8,123,000 after purchasing an additional 93,060 shares during the last quarter. Hourglass Capital LLC raised its holdings in AbbVie by 0.8% in the 2nd quarter. Hourglass Capital LLC now owns 86,930 shares of the company’s stock valued at $6,303,000 after acquiring an additional 650 shares in the last quarter. Wayne Hummer Investments L.L.C. raised its holdings in AbbVie by 0.8% in the 2nd quarter. Wayne Hummer Investments L.L.C. now owns 29,528 shares of the company’s stock valued at $2,141,000 after acquiring an additional 235 shares in the last quarter. Montag A & Associates Inc. raised its holdings in AbbVie by 0.4% in the 2nd quarter. Montag A & Associates Inc. now owns 70,349 shares of the company’s stock valued at $5,101,000 after acquiring an additional 253 shares in the last quarter. Finally, Pzena Investment Management LLC raised its holdings in AbbVie by 23.2% in the 2nd quarter. Pzena Investment Management LLC now owns 5,137 shares of the company’s stock valued at $372,000 after acquiring an additional 967 shares in the last quarter. 70.63% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on the company. Vetr raised AbbVie from a “buy” rating to a “strong-buy” rating and set a $128.42 price objective for the company in a report on Tuesday, March 6th. Jefferies Group set a $145.00 price objective on AbbVie and gave the company a “buy” rating in a report on Monday, February 26th. BMO Capital Markets set a $95.00 price objective on AbbVie and gave the company a “sell” rating in a report on Wednesday, February 21st. Piper Jaffray Companies lifted their price objective on AbbVie from $130.00 to $138.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Finally, Argus lifted their price objective on AbbVie from $120.00 to $145.00 and gave the company a “buy” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. AbbVie presently has an average rating of “Buy” and a consensus price target of $120.96.
AbbVie Inc (NYSE ABBV) opened at $118.30 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.18 and a debt-to-equity ratio of 6.07. AbbVie Inc has a fifty-two week low of $63.12 and a fifty-two week high of $125.86. The company has a market capitalization of $187,860.00, a price-to-earnings ratio of 21.35, a PEG ratio of 1.13 and a beta of 1.52.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.04. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The company had revenue of $7.74 billion during the quarter, compared to analysts’ expectations of $7.53 billion. During the same quarter in the previous year, the firm earned $1.20 EPS. AbbVie’s revenue was up 13.9% on a year-over-year basis. research analysts expect that AbbVie Inc will post 7.48 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be issued a dividend of $0.96 per share. The ex-dividend date is Thursday, April 12th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.25%. This is a boost from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s payout ratio is 51.26%.
AbbVie announced that its Board of Directors has authorized a share repurchase program 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. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
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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