BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of AbbVie Inc (NYSE:ABBV) by 33.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 263,577 shares of the company’s stock after purchasing an additional 66,625 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in AbbVie were worth $24,419,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. TIAA CREF Investment Management LLC lifted its stake in AbbVie by 3.5% in the fourth quarter. TIAA CREF Investment Management LLC now owns 10,321,140 shares of the company’s stock valued at $998,157,000 after acquiring an additional 347,642 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in AbbVie by 3.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 6,088,016 shares of the company’s stock valued at $576,231,000 after acquiring an additional 220,125 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in AbbVie by 6.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,954,509 shares of the company’s stock valued at $468,944,000 after acquiring an additional 281,453 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in AbbVie by 12.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,667,023 shares of the company’s stock valued at $441,725,000 after acquiring an additional 522,029 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in AbbVie by 8.5% in the first quarter. Franklin Resources Inc. now owns 4,359,665 shares of the company’s stock valued at $412,643,000 after acquiring an additional 340,709 shares during the last quarter. Institutional investors and hedge funds own 69.37% of the company’s stock.
In other AbbVie news, Director Edward J. Rapp purchased 1,013 shares of the stock in a transaction that occurred on Wednesday, June 20th. The shares were acquired at an average cost of $98.63 per share, with a total value of $99,912.19. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glenn F. Tilton purchased 5,400 shares of the stock in a transaction that occurred on Wednesday, June 27th. The shares were acquired at an average cost of $91.90 per share, for a total transaction of $496,260.00. Following the completion of the transaction, the director now owns 39,735 shares of the company’s stock, valued at approximately $3,651,646.50. The disclosure for this purchase can be found here. 0.07% of the stock is owned by corporate insiders.
A number of analysts have commented on ABBV shares. BMO Capital Markets reiterated a “sell” rating and issued a $78.00 price target on shares of AbbVie in a research note on Wednesday, August 22nd. Zacks Investment Research cut shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Saturday, July 14th. Deutsche Bank cut shares of AbbVie from a “neutral” rating to an “underperform” rating and cut their price target for the company from $125.86 to $65.61 in a research note on Wednesday, May 30th. Piper Jaffray Companies cut shares of AbbVie from an “overweight” rating to a “neutral” rating and cut their price target for the company from $125.86 to $66.62 in a research note on Friday, June 1st. Finally, Goldman Sachs Group cut shares of AbbVie from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, May 24th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. AbbVie presently has an average rating of “Hold” and a consensus target price of $106.31.
Shares of ABBV opened at $96.33 on Friday. The stock has a market capitalization of $141.10 billion, a PE ratio of 17.20, a P/E/G ratio of 0.85 and a beta of 1.54. AbbVie Inc has a fifty-two week low of $83.19 and a fifty-two week high of $125.86. The company has a debt-to-equity ratio of -9.06, a quick ratio of 0.71 and a current ratio of 0.80.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 27th. The company reported $2.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.02. The company had revenue of $8.28 billion for the quarter, compared to analyst estimates of $8.22 billion. AbbVie had a net margin of 20.84% and a return on equity of 362.05%. The company’s revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.42 earnings per share. equities research analysts anticipate that AbbVie Inc will post 7.86 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be given a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend is Friday, October 12th. AbbVie’s payout ratio is presently 68.57%.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
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