Hunter Associates Investment Management LLC reduced its stake in shares of AbbVie Inc. (NYSE: ABBV – Get Rating ) by 2.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,100 shares of the company’s stock after selling 500 shares during the period. AbbVie comprises 1.0% of Hunter Associates Investment Management LLC’s investment portfolio, making the stock its 22nd largest holding. Hunter Associates Investment Management LLC’s holdings in AbbVie were worth $3,096,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold stakes in the business. BlackRock Inc. grew its position in shares of AbbVie by 1.1% in the fourth quarter. BlackRock Inc. now owns 128,197,554 shares of the company’s stock valued at $17,357,949,000 after purchasing an additional 1,358,115 shares during the period. State Street Corp boosted its stake in AbbVie by 3.4% in the 4th quarter. State Street Corp now owns 79,357,705 shares of the company’s stock valued at $10,745,033,000 after acquiring an additional 2,597,076 shares in the last quarter. Geode Capital Management LLC raised its position in AbbVie by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 28,518,946 shares of the company’s stock valued at $3,850,573,000 after acquiring an additional 758,354 shares during the period. Norges Bank bought a new position in AbbVie in the 4th quarter valued at about $2,433,269,000. Finally, Nuveen Asset Management LLC boosted its holdings in shares of AbbVie by 12.2% during the 4th quarter. Nuveen Asset Management LLC now owns 16,331,749 shares of the company’s stock valued at $2,211,319,000 after buying an additional 1,771,090 shares during the period. 67.03% of the shares are owned by institutional investors.
Shares of ABBV stock opened at $152.85 on Monday. AbbVie Inc. has a 12-month low of $105.56 and a 12-month high of $175.91. The company has a market cap of $270.10 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 4.35 and a beta of 0.77. The company has a quick ratio of 0.71, a current ratio of 0.82 and a debt-to-equity ratio of 3.89. The business’s 50-day moving average is $149.17, and its two-hundred-day moving average is $148.57.
AbbVie (NYSE: ABBV – Get Rating ) last posted its quarterly earnings data on Friday, April 29th. The company reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.01. The business had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.61 billion. AbbVie had a net margin of 22.00% and a return on equity of 159.31%. AbbVie’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.95 EPS. As a group, stock analysts expect AbbVie Inc. to post 13.85 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 15th will be paid a $1.41 dividend. The ex-dividend date is Thursday, July 14th. This represents an annualized dividend of $5.64 and a dividend yield of 3.69%. AbbVie’s payout ratio is currently 80.92%.
In related news, VP Michael Severino sold 100,000 shares of the company’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $150.81, for a total transaction of $15,081,000.00. Following the completion of the transaction, the insider now directly owns 152,103 shares in the company, valued at approximately $22,938,653.43. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, EVP Henry O. Gosebruch sold 83,960 shares of the stock in a transaction on Monday, May 16th. The shares were sold at an average price of $155.00, for a total transaction of $13,013,800.00. Following the completion of the sale, the executive vice president now directly owns 16,623 shares of the company’s stock, valued at $2,576,565. Disclosure of this sale can be found here. Insiders have sold a total of 463,761 shares of company stock valued at $70,609,771 over the last three months. 0.08% of shares are owned by insiders.
ABBV has been the subject of a number of analyst reports. BMO Capital Markets boosted their price objective on shares of AbbVie from $161.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 25th. StockNews.com raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Friday, April 8th. Barclays boosted their price objective on AbbVie from $150.00 to $174.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 12th. SVB Leerink initiated coverage on AbbVie in a research note on Monday, May 23rd. They issued an “underperform” rating and a $140.00 target price on the stock. Finally, Morgan Stanley boosted their target price on AbbVie from $188.00 to $191.00 and gave the stock an “overweight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.69, according to MarketBeat.com .
AbbVie Company Profile (Get Rating)
AbbVie Inc discovers, develops, manufactures and markets pharmaceutical products worldwide. The company offers HUMIRA, a therapy given as an injection for Behçet’s autoimmune and intestinal diseases; SKYRIZI for the treatment of moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderately to severely active rheumatoid arthritis in adult patients; IMBRUVICA to treat adults with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET for the treatment of patients with chronic HCV genotype 1-6 infection.
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