GW&K Investment Management LLC raised its position in shares of AbbVie Inc (NYSE:ABBV) by 16.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 500,359 shares of the company’s stock after purchasing an additional 72,240 shares during the quarter. GW&K Investment Management LLC’s holdings in AbbVie were worth $37,887,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. Bath Savings Trust Co grew its stake in shares of AbbVie by 23.7% during the 2nd quarter. Bath Savings Trust Co now owns 9,198 shares of the company’s stock valued at $669,000 after acquiring an additional 1,760 shares during the period. Cox Capital Mgt LLC grew its stake in shares of AbbVie by 49.1% during the 2nd quarter. Cox Capital Mgt LLC now owns 33,178 shares of the company’s stock valued at $2,413,000 after acquiring an additional 10,921 shares during the period. Thomasville National Bank grew its stake in shares of AbbVie by 2.5% during the 2nd quarter. Thomasville National Bank now owns 45,013 shares of the company’s stock valued at $3,273,000 after acquiring an additional 1,118 shares during the period. Park National Corp OH grew its stake in shares of AbbVie by 1.8% during the 2nd quarter. Park National Corp OH now owns 305,685 shares of the company’s stock valued at $22,229,000 after acquiring an additional 5,472 shares during the period. Finally, Pensionfund DSM Netherlands bought a new position in shares of AbbVie during the 2nd quarter valued at approximately $4,080,000. Institutional investors and hedge funds own 68.38% of the company’s stock.
A number of research analysts recently issued reports on ABBV shares. Cowen set a $90.00 price objective on AbbVie and gave the company a “buy” rating in a research note on Tuesday, September 24th. Citigroup upgraded AbbVie from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $87.00 to $90.00 in a research note on Thursday, September 26th. Piper Jaffray Companies upped their price target on AbbVie from $81.00 to $90.00 in a research note on Friday, November 1st. UBS Group upgraded AbbVie from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $85.00 to $79.00 in a research note on Thursday, September 12th. Finally, TheStreet downgraded AbbVie from a “b-” rating to a “c” rating in a research note on Monday, August 26th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $84.88.
In other news, SVP Nicholas Donoghoe acquired 7,525 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were acquired at an average cost of $66.19 per share, with a total value of $498,079.75. Following the acquisition, the senior vice president now directly owns 13,090 shares of the company’s stock, valued at $866,427.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Istar Inc. acquired 40,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were purchased at an average cost of $28.52 per share, for a total transaction of $1,140,800.00. Insiders have bought a total of 88,077 shares of company stock worth $4,401,551 over the last ninety days. Insiders own 0.08% of the company’s stock.
ABBV stock traded up $3.20 during midday trading on Friday, hitting $85.21. The company’s stock had a trading volume of 11,307,381 shares, compared to its average volume of 7,972,123. AbbVie Inc has a 12 month low of $62.66 and a 12 month high of $94.98. The firm has a market capitalization of $121.00 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 2.04 and a beta of 0.98. The company has a 50 day moving average of $76.28 and a two-hundred day moving average of $73.49.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, November 1st. The company reported $2.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.04. AbbVie had a negative return on equity of 155.71% and a net margin of 9.90%. The business had revenue of $8.48 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the prior year, the company posted $2.14 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, analysts expect that AbbVie Inc will post 8.93 EPS for the current year.
The company also recently disclosed a — dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.07 per share. The ex-dividend date is Friday, October 11th. This represents a dividend yield of 6.4%. AbbVie’s dividend payout ratio (DPR) is 54.11%.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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