Oregon Public Employees Retirement Fund Lowers Stake in AbbVie Inc (ABBV)

Oregon Public Employees Retirement Fund cut its stake in shares of AbbVie Inc (NYSE:ABBV) by 3.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 338,800 shares of the company’s stock after selling 13,284 shares during the period. Oregon Public Employees Retirement Fund’s holdings in AbbVie were worth $32,044,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. 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 buying 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 buying an additional 537 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in AbbVie by 1.0% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 56,086 shares of the company’s stock worth $5,196,000 after buying an additional 550 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV lifted its holdings in AbbVie by 5.6% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 10,631 shares of the company’s stock worth $985,000 after buying an additional 564 shares in the last quarter. Finally, Windsor Capital Management LLC lifted its holdings in AbbVie by 5.4% in the 2nd quarter. Windsor Capital Management LLC now owns 11,122 shares of the company’s stock worth $1,030,000 after buying an additional 565 shares in the last quarter. 69.85% of the stock is owned by institutional investors.

Shares of AbbVie stock opened at $86.96 on Friday. The stock has a market capitalization of $135.88 billion, a PE ratio of 15.53, a P/E/G ratio of 0.84 and a beta of 1.68. The company has a current ratio of 1.20, a quick ratio of 1.08 and a debt-to-equity ratio of 8.70. AbbVie Inc has a 1 year low of $77.50 and a 1 year high of $125.86.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, November 2nd. The company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.13. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.23 billion. AbbVie had a net margin of 23.50% and a return on equity of 2,006.63%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.41 EPS. Sell-side analysts forecast that AbbVie Inc will post 7.93 earnings per share for the current 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 paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend is Monday, January 14th. This is a positive change from AbbVie’s previous quarterly dividend of $0.96. AbbVie’s dividend payout ratio is 68.57%.

In related news, EVP Henry O. Gosebruch sold 42,450 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 30,350 shares of the company’s stock, valued at approximately $2,734,535. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Laura J. Schumacher sold 94,140 shares of the business’s stock in a transaction dated 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 directly owns 192,398 shares of the company’s stock, valued at approximately $18,004,604.84. The disclosure for this sale can be found here. Corporate insiders own 0.07% of the company’s stock.

ABBV has been the topic of a number of recent analyst reports. Argus cut their price objective on shares of AbbVie from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, November 6th. Bank of America cut their price objective on shares of AbbVie from $107.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, October 4th. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a report on Monday, October 1st. SunTrust Banks cut their price objective on shares of AbbVie from $157.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, October 22nd. Finally, Barclays reiterated a “hold” rating and issued a $90.00 price objective on shares of AbbVie in a report on Sunday, November 4th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $103.68.

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AbbVie Profile

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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