IFM Investors Pty Ltd raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 16.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 170,586 shares of the company’s stock after purchasing an additional 23,636 shares during the period. IFM Investors Pty Ltd’s holdings in AbbVie were worth $18,278,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lavaca Capital LLC lifted its holdings in shares of AbbVie by 1.6% in the 4th quarter. Lavaca Capital LLC now owns 61,949 shares of the company’s stock valued at $6,638,000 after acquiring an additional 1,000 shares during the last quarter. Norway Savings Bank raised its position in AbbVie by 7.2% in the 4th quarter. Norway Savings Bank now owns 6,759 shares of the company’s stock worth $724,000 after purchasing an additional 452 shares during the period. Signature Estate & Investment Advisors LLC purchased a new stake in AbbVie in the 4th quarter worth about $232,000. Tandem Investment Advisors Inc. raised its position in AbbVie by 10.3% in the 4th quarter. Tandem Investment Advisors Inc. now owns 388,932 shares of the company’s stock worth $41,674,000 after purchasing an additional 36,236 shares during the period. Finally, Coastal Investment Advisors Inc. raised its position in AbbVie by 1.8% in the 4th quarter. Coastal Investment Advisors Inc. now owns 9,904 shares of the company’s stock worth $1,061,000 after purchasing an additional 173 shares during the period. 67.49% of the stock is owned by institutional investors and hedge funds.
In other AbbVie news, CEO Richard A. Gonzalez sold 231,604 shares of the firm’s stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $96.88, for a total value of $22,437,795.52. Also, EVP Jeffrey Ryan Stewart sold 25,290 shares of AbbVie stock in a transaction on Tuesday, December 29th. The stock was sold at an average price of $105.00, for a total transaction of $2,655,450.00. Following the sale, the executive vice president now owns 76,259 shares of the company’s stock, valued at $8,007,195. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 308,884 shares of company stock valued at $30,552,196. 0.09% of the stock is owned by insiders.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 30th. The company reported $2.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.75 by $0.08. The company had revenue of $12.88 billion for the quarter, compared to analyst estimates of $12.71 billion. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. AbbVie’s revenue was up 51.9% compared to the same quarter last year. During the same period last year, the company posted $2.33 earnings per share. Analysts anticipate that AbbVie Inc. will post 10.48 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 16th. Shareholders of record on Friday, January 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.62%. This is an increase from AbbVie’s previous quarterly dividend of $1.18. The ex-dividend date of this dividend is Thursday, January 14th. AbbVie’s dividend payout ratio (DPR) is 52.80%.
A number of analysts recently weighed in on the stock. ValuEngine raised shares of AbbVie from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 1st. Mizuho increased their price objective on shares of AbbVie from $111.00 to $117.00 in a research report on Tuesday, December 15th. Morgan Stanley increased their price objective on shares of AbbVie from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, November 30th. BidaskClub raised shares of AbbVie from a “strong sell” rating to a “sell” rating in a research report on Friday, January 1st. Finally, Sanford C. Bernstein started coverage on shares of AbbVie in a research report on Tuesday, November 10th. They issued an “outperform” rating and a $120.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $112.50.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal BehÃ§et's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenstrÃ¶m'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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