Buckingham Capital Management Inc. grew its stake in AbbVie Inc (NYSE:ABBV) by 25.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,039 shares of the company’s stock after purchasing an additional 10,032 shares during the period. AbbVie comprises about 0.9% of Buckingham Capital Management Inc.’s investment portfolio, making the stock its 27th biggest position. Buckingham Capital Management Inc.’s holdings in AbbVie were worth $4,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently bought and sold shares of ABBV. Schwab Charles Investment Management Inc. lifted its holdings in shares of AbbVie by 3.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 6,088,016 shares of the company’s stock worth $576,231,000 after acquiring an additional 220,125 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of AbbVie by 12.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,667,023 shares of the company’s stock worth $441,725,000 after acquiring an additional 522,029 shares during the period. Franklin Resources Inc. lifted its holdings in shares of AbbVie by 8.5% during the 1st quarter. Franklin Resources Inc. now owns 4,359,665 shares of the company’s stock worth $412,643,000 after acquiring an additional 340,709 shares during the period. Aristotle Capital Management LLC lifted its holdings in shares of AbbVie by 0.9% during the 1st quarter. Aristotle Capital Management LLC now owns 3,787,873 shares of the company’s stock worth $358,522,000 after acquiring an additional 34,727 shares during the period. Finally, Fayez Sarofim & Co lifted its holdings in shares of AbbVie by 1.3% during the 1st quarter. Fayez Sarofim & Co now owns 3,622,656 shares of the company’s stock worth $342,885,000 after acquiring an additional 45,297 shares during the period. Institutional investors own 69.35% of the company’s stock.
In other AbbVie news, EVP Michael Severino sold 50,000 shares of the business’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $97.52, for a total value of $4,876,000.00. Following the completion of the transaction, the executive vice president now directly owns 111,481 shares of the company’s stock, valued at $10,871,627.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.07% of the company’s stock.
A number of equities analysts have recently commented on ABBV shares. Zacks Investment Research downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a report on Saturday, July 14th. Bank of America reduced their price objective on shares of AbbVie from $112.00 to $105.00 and set a “buy” rating for the company in a report on Monday, July 30th. BMO Capital Markets reaffirmed a “sell” rating and set a $78.00 price objective on shares of AbbVie in a report on Wednesday, August 22nd. Cowen set a $110.00 price objective on shares of AbbVie and gave the stock a “buy” rating in a report on Friday, July 27th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $100.00 price target on shares of AbbVie in a report on Friday, July 27th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $107.21.
Shares of ABBV stock opened at $90.69 on Friday. AbbVie Inc has a 12-month low of $85.24 and a 12-month high of $125.86. The stock has a market cap of $143.22 billion, a P/E ratio of 16.19, a PEG ratio of 0.91 and a beta of 1.54. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of -9.06.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 27th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.02. AbbVie had a net margin of 20.84% and a return on equity of 362.05%. The firm had revenue of $8.28 billion during the quarter, compared to the consensus estimate of $8.22 billion. During the same period last year, the firm posted $1.42 EPS. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. On average, equities research analysts expect that AbbVie Inc will post 7.86 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 4.23%. The ex-dividend date is Friday, October 12th. AbbVie’s dividend payout ratio is currently 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, to treat adults with genotype 1 chronic hepatitis C.
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