Acadian Asset Management LLC Has $1.53 Million Holdings in AbbVie Inc (ABBV)

Acadian Asset Management LLC reduced its position in shares of AbbVie Inc (NYSE:ABBV) by 16.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,152 shares of the company’s stock after selling 3,277 shares during the period. Acadian Asset Management LLC’s holdings in AbbVie were worth $1,528,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. G&S Capital LLC boosted its position in shares of AbbVie by 2,963.8% in the third quarter. G&S Capital LLC now owns 37,103 shares of the company’s stock worth $3,509,000 after acquiring an additional 35,892 shares during the last quarter. Parsec Financial Management Inc. boosted its position in shares of AbbVie by 12.0% in the third quarter. Parsec Financial Management Inc. now owns 6,765 shares of the company’s stock worth $640,000 after acquiring an additional 725 shares during the last quarter. S. R. Schill & Associates boosted its position in shares of AbbVie by 34.7% in the third quarter. S. R. Schill & Associates now owns 2,914 shares of the company’s stock worth $276,000 after acquiring an additional 750 shares during the last quarter. Signature Wealth Management Group boosted its position in shares of AbbVie by 6.0% in the third quarter. Signature Wealth Management Group now owns 31,599 shares of the company’s stock worth $2,571,000 after acquiring an additional 1,795 shares during the last quarter. Finally, Ballentine Partners LLC boosted its position in shares of AbbVie by 9.9% in the third quarter. Ballentine Partners LLC now owns 8,525 shares of the company’s stock worth $806,000 after acquiring an additional 770 shares during the last quarter. 69.85% of the stock is currently owned by institutional investors.

Several equities research analysts recently issued reports on the stock. ValuEngine raised shares of AbbVie from a “sell” rating to a “hold” rating in a research report on Monday, November 12th. Argus decreased their target price on shares of AbbVie from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, November 6th. BMO Capital Markets decreased their target price on shares of AbbVie from $78.00 to $71.00 and set an “underperform” rating on the stock in a research report on Monday, November 5th. Barclays reaffirmed a “hold” rating and set a $90.00 price target on shares of AbbVie in a research report on Sunday, November 4th. Finally, Credit Suisse Group set a $85.00 price target on shares of AbbVie and gave the company a “hold” rating in a research report on Friday, November 2nd. Four analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. AbbVie currently has a consensus rating of “Hold” and an average target price of $103.68.

In other news, insider Laura J. Schumacher sold 94,140 shares of AbbVie stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $93.58, for a total transaction of $8,809,621.20. Following the sale, the insider now owns 192,398 shares in the company, valued at $18,004,604.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Henry O. Gosebruch sold 42,450 shares of AbbVie stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $90.10, for a total transaction of $3,824,745.00. Following the sale, the executive vice president now owns 30,350 shares in the company, valued at approximately $2,734,535. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.

Shares of ABBV stock opened at $86.96 on Friday. The company has a market cap of $136.21 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 0.84 and a beta of 1.68. The company has a debt-to-equity ratio of 8.70, a quick ratio of 1.08 and a current ratio of 1.20. AbbVie Inc has a fifty-two week low of $77.50 and a fifty-two week high of $125.86.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, November 2nd. The company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.13. The firm had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.23 billion. AbbVie had a net margin of 23.50% and a return on equity of 2,006.63%. AbbVie’s revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc will post 7.93 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Tuesday, January 15th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.92%. This is a boost from AbbVie’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Monday, January 14th. AbbVie’s payout ratio is 68.57%.

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About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.

Further Reading: Growth Stocks

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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