DNB Asset Management AS grew its stake in shares of AbbVie Inc (NYSE:ABBV) by 0.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 188,185 shares of the company’s stock after buying an additional 1,190 shares during the period. DNB Asset Management AS’s holdings in AbbVie were worth $17,799,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of ABBV. Verition Fund Management LLC lifted its holdings in AbbVie by 7.4% in the 1st quarter. Verition Fund Management LLC now owns 7,269 shares of the company’s stock worth $688,000 after purchasing an additional 500 shares in the last quarter. Baxter Bros Inc. lifted its holdings in AbbVie by 19.6% in the 1st quarter. Baxter Bros Inc. now owns 3,049 shares of the company’s stock worth $289,000 after purchasing an additional 500 shares in the last quarter. Good Life Advisors LLC lifted its holdings in AbbVie by 5.6% in the 2nd quarter. Good Life Advisors LLC now owns 10,060 shares of the company’s stock worth $933,000 after purchasing an additional 537 shares in the last quarter. Lido Advisors LLC lifted its holdings in AbbVie by 2.4% in the 2nd quarter. Lido Advisors LLC now owns 23,371 shares of the company’s stock worth $2,165,000 after purchasing an additional 537 shares in the last quarter. Finally, Budros Ruhlin & Roe Inc. lifted its holdings in AbbVie by 20.1% in the 1st quarter. Budros Ruhlin & Roe Inc. now owns 3,214 shares of the company’s stock worth $304,000 after purchasing an additional 538 shares in the last quarter. 69.43% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on the company. Argus lowered their price target on AbbVie from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday. BMO Capital Markets reduced their price objective on AbbVie from $78.00 to $71.00 and set an “underperform” rating on the stock in a research note on Monday, November 5th. Barclays reaffirmed a “hold” rating and issued a $90.00 price objective on shares of AbbVie in a research note on Sunday, November 4th. Credit Suisse Group set a $85.00 price objective on AbbVie and gave the stock a “hold” rating in a research note on Friday, November 2nd. Finally, Wolfe Research began coverage on AbbVie in a research note on Tuesday, October 23rd. They issued an “underperform” rating on the stock. Five analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $103.68.
NYSE:ABBV opened at $88.79 on Friday. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.71 and a current ratio of 0.80. AbbVie Inc has a 1 year low of $77.50 and a 1 year high of $125.86. The company has a market capitalization of $126.68 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 0.79 and a beta of 1.62.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, November 2nd. The company reported $2.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.01 by $0.13. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.23 billion. AbbVie had a return on equity of 671.60% and a net margin of 23.50%. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 EPS. On average, equities analysts expect that AbbVie Inc will post 7.93 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Tuesday, January 15th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, January 14th. This represents a $4.28 annualized dividend and a dividend yield of 4.82%. This is an increase from AbbVie’s previous quarterly dividend of $0.96. AbbVie’s payout ratio is currently 68.57%.
In other news, EVP Michael Severino sold 50,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 111,481 shares of the company’s stock, valued at approximately $10,871,627.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.
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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