Janus Henderson Group PLC boosted its holdings in shares of AbbVie Inc (NYSE:ABBV) by 15.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,243,956 shares of the company’s stock after purchasing an additional 717,452 shares during the quarter. Janus Henderson Group PLC owned approximately 0.33% of AbbVie worth $485,867,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of ABBV. Verition Fund Management LLC grew its stake in AbbVie by 7.4% during the 1st quarter. Verition Fund Management LLC now owns 7,269 shares of the company’s stock worth $688,000 after buying an additional 500 shares during the last quarter. Baxter Bros Inc. grew its stake in AbbVie by 19.6% during the 1st quarter. Baxter Bros Inc. now owns 3,049 shares of the company’s stock worth $289,000 after buying an additional 500 shares during the last quarter. Hanson & Doremus Investment Management grew its stake in AbbVie by 7.4% during the 1st quarter. Hanson & Doremus Investment Management now owns 7,290 shares of the company’s stock worth $690,000 after buying an additional 501 shares during the last quarter. HMS Capital Management LLC grew its stake in AbbVie by 3.7% during the 1st quarter. HMS Capital Management LLC now owns 14,220 shares of the company’s stock worth $1,346,000 after buying an additional 506 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its stake in AbbVie by 1.9% during the 1st quarter. AdvisorNet Financial Inc now owns 26,613 shares of the company’s stock worth $2,519,000 after buying an additional 508 shares during the last quarter. Institutional investors own 69.35% of the company’s stock.
Shares of ABBV stock opened at $90.69 on Friday. 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 Inc has a 1 year low of $85.24 and a 1 year high of $125.86. The firm has a market cap of $143.22 billion, a price-to-earnings ratio of 16.19, a price-to-earnings-growth ratio of 0.91 and a beta of 1.54.
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, topping the Zacks’ consensus estimate of $1.98 by $0.02. AbbVie had a return on equity of 362.05% and a net margin of 20.84%. The company had revenue of $8.28 billion during the quarter, compared to analyst estimates of $8.22 billion. During the same quarter in the previous year, the firm posted $1.42 EPS. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. Equities analysts expect that AbbVie Inc will post 7.86 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, October 15th will be given a dividend of $0.96 per share. The ex-dividend date is Friday, October 12th. This represents a $3.84 dividend on an annualized basis and a yield of 4.23%. AbbVie’s dividend payout ratio (DPR) is presently 68.57%.
In other AbbVie news, EVP Michael Severino sold 50,000 shares of the business’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the completion of the transaction, the executive vice president now owns 111,481 shares in the company, valued at approximately $10,871,627.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.07% of the company’s stock.
A number of research analysts recently commented on ABBV shares. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a research note on Monday, October 1st. Bank of America upped their price objective on AbbVie from $105.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, August 22nd. Cowen set a $110.00 price objective on AbbVie and gave the stock a “buy” rating in a research note on Friday, July 27th. Jefferies Financial Group set a $100.00 price objective on AbbVie and gave the stock a “buy” rating in a research note on Sunday, July 15th. Finally, Credit Suisse Group upgraded AbbVie to a “hold” rating and set a $89.00 price objective for the company in a research note on Friday, July 13th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $107.21.
AbbVie Company Profile
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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