Hennessy Advisors Inc. Reduces Holdings in AbbVie Inc (NYSE:ABBV)

Hennessy Advisors Inc. decreased its position in shares of AbbVie Inc (NYSE:ABBV) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,000 shares of the company’s stock after selling 2,800 shares during the period. Hennessy Advisors Inc.’s holdings in AbbVie were worth $5,224,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ABBV. Nuveen Asset Management LLC increased its position in shares of AbbVie by 1,715.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 9,593,845 shares of the company’s stock worth $697,664,000 after purchasing an additional 9,065,487 shares during the last quarter. BlackRock Inc. increased its position in shares of AbbVie by 3.3% in the 2nd quarter. BlackRock Inc. now owns 98,295,272 shares of the company’s stock worth $7,148,030,000 after purchasing an additional 3,100,309 shares during the last quarter. Putnam Investments LLC increased its position in shares of AbbVie by 433.3% in the 2nd quarter. Putnam Investments LLC now owns 3,634,868 shares of the company’s stock worth $264,327,000 after purchasing an additional 2,953,331 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of AbbVie by 81.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,176,070 shares of the company’s stock worth $376,404,000 after purchasing an additional 2,326,510 shares during the last quarter. Finally, Man Group plc increased its position in shares of AbbVie by 168.9% in the 2nd quarter. Man Group plc now owns 2,605,268 shares of the company’s stock worth $189,456,000 after purchasing an additional 1,636,248 shares during the last quarter. 70.42% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:ABBV opened at $88.20 on Wednesday. AbbVie Inc has a fifty-two week low of $62.66 and a fifty-two week high of $91.99. The firm has a 50-day simple moving average of $88.47 and a 200 day simple moving average of $76.77. The company has a market cap of $131.70 billion, a PE ratio of 11.15, a P/E/G ratio of 2.10 and a beta of 0.97.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, November 1st. The company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.04. AbbVie had a net margin of 9.90% and a negative return on equity of 155.96%. The business had revenue of $8.48 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the prior year, the firm earned $2.14 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, analysts expect that AbbVie Inc will post 8.93 earnings per share for the current fiscal year.

The firm also recently disclosed a — dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.18 per share. This represents a dividend yield of 5.93%. The ex-dividend date is Tuesday, January 14th. This is an increase from AbbVie’s previous — dividend of $1.07. AbbVie’s dividend payout ratio is currently 54.11%.

Several research firms have recently weighed in on ABBV. ValuEngine raised shares of AbbVie from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Piper Jaffray Companies boosted their target price on shares of AbbVie from $81.00 to $90.00 in a research report on Friday, November 1st. Citigroup boosted their target price on shares of AbbVie from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Bank of America downgraded shares of AbbVie from a “buy” rating to a “neutral” rating in a research report on Friday, January 3rd. Finally, Royal Bank of Canada began coverage on shares of AbbVie in a research report on Monday, January 6th. They issued a “sector perform” rating and a $86.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $86.33.

AbbVie 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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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