Manning & Napier Group LLC raised its stake in AbbVie Inc (NYSE:ABBV) by 7.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 286,619 shares of the company’s stock after buying an additional 20,976 shares during the period. Manning & Napier Group LLC’s holdings in AbbVie were worth $27,106,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Morgan Stanley boosted its position in shares of AbbVie by 3.2% during the 2nd quarter. Morgan Stanley now owns 11,134,470 shares of the company’s stock valued at $1,031,608,000 after purchasing an additional 348,882 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of AbbVie by 15.9% during the 2nd quarter. Janus Henderson Group PLC now owns 5,243,956 shares of the company’s stock valued at $485,867,000 after purchasing an additional 717,452 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of AbbVie by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,824,617 shares of the company’s stock valued at $447,001,000 after purchasing an additional 157,594 shares in the last quarter. Aristotle Capital Management LLC boosted its position 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 valued at $358,522,000 after purchasing an additional 34,727 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of AbbVie by 1.9% during the 1st quarter. Asset Management One Co. Ltd. now owns 2,700,003 shares of the company’s stock valued at $255,556,000 after purchasing an additional 50,701 shares in the last quarter. Hedge funds and other institutional investors own 69.43% of the company’s stock.
Several equities research analysts recently commented on ABBV shares. Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a research report on Saturday, July 14th. Credit Suisse Group upgraded AbbVie to a “hold” rating and set a $89.00 target price on the stock in a research report on Friday, July 13th. Jefferies Financial Group set a $100.00 target price on AbbVie and gave the company a “buy” rating in a research report on Sunday, July 15th. BMO Capital Markets restated a “sell” rating and set a $78.00 target price on shares of AbbVie in a research report on Friday, July 27th. Finally, Cowen set a $110.00 target price on AbbVie and gave the company a “buy” rating in a research report on Friday, July 27th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $103.68.
In related news, EVP Michael Severino sold 50,000 shares of the company’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 directly owns 111,481 shares of the company’s stock, valued at approximately $10,871,627.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.07% of the stock is currently owned by corporate insiders.
ABBV stock opened at $88.79 on Friday. AbbVie Inc has a fifty-two week low of $77.50 and a fifty-two week high of $125.86. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.71 and a current ratio of 0.80. The company has a market cap of $131.68 billion, a P/E ratio of 11.61, a PEG ratio of 0.82 and a beta of 1.62.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, November 2nd. The company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.13. AbbVie had a return on equity of 671.60% and a net margin of 23.50%. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the prior year, the business earned $1.41 EPS. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, equities research analysts forecast that AbbVie Inc will post 7.93 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Tuesday, January 15th will be paid a dividend of $1.07 per share. This is an increase from AbbVie’s previous quarterly dividend of $0.96. This represents a $4.28 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend is Monday, January 14th. AbbVie’s dividend payout ratio is 68.57%.
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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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