Iberiabank Corp trimmed its position in AbbVie Inc (NYSE:ABBV) by 14.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,422 shares of the company’s stock after selling 9,171 shares during the period. Iberiabank Corp’s holdings in AbbVie were worth $5,053,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in ABBV. Cornerstone Wealth Management LLC boosted its stake in AbbVie by 8,774.3% in the second quarter. Cornerstone Wealth Management LLC now owns 1,102,183 shares of the company’s stock valued at $11,837,000 after acquiring an additional 1,089,763 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in shares of AbbVie by 7,637.2% during the first quarter. Summit Trail Advisors LLC now owns 997,253 shares of the company’s stock worth $997,000 after buying an additional 984,364 shares during the period. Janus Henderson Group PLC lifted its stake in shares of AbbVie by 15.9% during the second quarter. Janus Henderson Group PLC now owns 5,243,956 shares of the company’s stock worth $485,867,000 after buying an additional 717,452 shares during the period. Royal London Asset Management Ltd. acquired a new stake in shares of AbbVie during the second quarter worth $62,780,000. Finally, Renaissance Technologies LLC lifted its stake in shares of AbbVie by 34.6% during the second quarter. Renaissance Technologies LLC now owns 2,362,283 shares of the company’s stock worth $218,866,000 after buying an additional 606,627 shares during the period. Institutional investors own 69.43% of the company’s stock.
Shares of AbbVie stock opened at $88.79 on Friday. The company has a debt-to-equity ratio of 8.70, a current ratio of 0.80 and a quick ratio of 0.71. AbbVie Inc has a 1 year low of $77.50 and a 1 year high of $125.86. The firm has a market cap of $131.68 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 0.82 and a beta of 1.62.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, November 2nd. The company reported $2.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.01 by $0.13. AbbVie had a net margin of 23.50% and a return on equity of 671.60%. The firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter last year, the company posted $1.41 earnings per share. The firm’s revenue was up 17.7% compared to the same quarter last year. As a group, equities analysts anticipate that AbbVie Inc will post 7.93 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Tuesday, January 15th will be issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.82%. The ex-dividend date is Monday, January 14th. This is a boost from AbbVie’s previous quarterly dividend of $0.96. AbbVie’s dividend payout ratio (DPR) is 68.57%.
In related news, EVP Michael Severino sold 50,000 shares of the firm’s stock in a transaction on Friday, August 17th. The shares were 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 of the company’s stock, valued at $10,871,627.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.07% of the company’s stock.
ABBV has been the subject of several research reports. Zacks Investment Research downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Saturday, July 14th. Credit Suisse Group upgraded shares of AbbVie to a “hold” rating and set a $89.00 price objective for the company in a research note on Friday, July 13th. Jefferies Financial Group set a $100.00 price objective on shares of AbbVie and gave the stock a “buy” rating in a research note on Sunday, July 15th. BMO Capital Markets reiterated a “sell” rating and set a $78.00 price objective on shares of AbbVie in a research note on Friday, July 27th. Finally, Cowen set a $110.00 price objective on shares of AbbVie and gave the stock a “buy” rating in a research note on Friday, July 27th. Five research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. AbbVie has a consensus rating of “Hold” and an average price target of $103.68.
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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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