Spearhead Capital Advisors LLC purchased a new position in shares of AbbVie Inc (NYSE:ABBV) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 27,366 shares of the company’s stock, valued at approximately $2,647,000.
Other hedge funds have also recently bought and sold shares of the company. Beaton Management Co. Inc. purchased a new stake in shares of AbbVie in the second quarter worth approximately $528,000. Jennison Associates LLC purchased a new stake in shares of AbbVie in the third quarter worth approximately $544,418,000. Capital International Investors raised its stake in shares of AbbVie by 137.7% in the third quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock worth $697,989,000 after purchasing an additional 4,550,954 shares during the last quarter. Parsec Financial Management Inc. raised its stake in shares of AbbVie by 265.3% in the third quarter. Parsec Financial Management Inc. now owns 20,881 shares of the company’s stock worth $1,856,000 after purchasing an additional 15,165 shares during the last quarter. Finally, First Merchants Corp raised its stake in shares of AbbVie by 114.7% in the third quarter. First Merchants Corp now owns 71,497 shares of the company’s stock worth $6,352,000 after purchasing an additional 38,196 shares during the last quarter. 70.63% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently commented on ABBV. BMO Capital Markets set a $95.00 price objective on AbbVie and gave the stock a “sell” rating in a research note on Tuesday. Vetr raised AbbVie from a “buy” rating to a “strong-buy” rating and set a $128.42 target price for the company in a report on Tuesday, March 6th. Jefferies Group set a $145.00 target price on AbbVie and gave the company a “buy” rating in a report on Monday, February 26th. Piper Jaffray Companies upped their target price on AbbVie from $130.00 to $138.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Finally, Argus upped their target price 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 issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $120.96.
AbbVie Inc (NYSE ABBV) opened at $119.75 on Wednesday. AbbVie Inc has a twelve month low of $63.12 and a twelve month high of $125.86. The firm has a market capitalization of $187,857.22, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 1.12 and a beta of 1.52. 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 (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, beating the 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 during the quarter, compared to analyst estimates of $7.53 billion. During the same period in the prior year, the company earned $1.20 earnings per share. AbbVie’s revenue was up 13.9% compared to the same quarter last year. equities research analysts predict that AbbVie Inc will post 7.48 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.21%. This is a positive change from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, April 12th. AbbVie’s dividend payout ratio is 86.32%.
AbbVie announced that its board has initiated a stock repurchase program on Thursday, February 15th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors 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.
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc (NYSE:ABBV).
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.