Texas Permanent School Fund lessened its position in shares of AbbVie Inc (NYSE:ABBV) by 1.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 435,172 shares of the company’s stock after selling 6,600 shares during the period. Texas Permanent School Fund’s holdings in AbbVie were worth $42,085,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. First Quadrant L P CA grew its holdings in AbbVie by 96.3% during the 4th quarter. First Quadrant L P CA now owns 360,613 shares of the company’s stock worth $34,875,000 after acquiring an additional 176,870 shares in the last quarter. James Investment Research Inc. acquired a new position in AbbVie during the 4th quarter worth approximately $1,741,000. Bredin Investment LLC acquired a new position in AbbVie during the 4th quarter worth approximately $1,981,000. Bowling Portfolio Management LLC grew its holdings in AbbVie by 760.8% during the 4th quarter. Bowling Portfolio Management LLC now owns 51,917 shares of the company’s stock worth $5,021,000 after acquiring an additional 45,886 shares in the last quarter. Finally, UMB Bank N A MO boosted its holdings in shares of AbbVie by 9.6% in the 4th quarter. UMB Bank N A MO now owns 220,094 shares of the company’s stock valued at $21,285,000 after buying an additional 19,293 shares in the last quarter. Institutional investors own 70.63% of the company’s stock.
In related news, CFO William J. Chase sold 70,928 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $117.18, for a total value of $8,311,343.04. Following the completion of the sale, the chief financial officer now owns 203,391 shares in the company, valued at approximately $23,833,357.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Laura J. Schumacher sold 145,510 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $96.71, for a total transaction of $14,072,272.10. 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. 0.23% of the stock is owned by insiders.
Shares of AbbVie Inc (NYSE ABBV) opened at $119.75 on Wednesday. AbbVie Inc has a 12-month low of $63.12 and a 12-month high of $125.86. The company has a market cap of $187,857.22, a price-to-earnings ratio of 21.16, a P/E/G ratio of 1.12 and a beta of 1.52. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.28 and a quick ratio of 1.18.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.44 by $0.04. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The firm 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. AbbVie’s revenue for the quarter was up 13.9% on a year-over-year basis. equities analysts forecast that AbbVie Inc will post 7.48 earnings per share for the current year.
AbbVie announced that its board has approved a stock repurchase plan on Thursday, February 15th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Investors 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 is Thursday, April 12th. This represents a $3.84 annualized dividend and a yield of 3.21%. AbbVie’s dividend payout ratio is 86.32%.
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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