AbbVie Inc. (ABBV) Stake Increased by DT Investment Partners LLC
DT Investment Partners LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 16.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,469 shares of the company’s stock after purchasing an additional 3,658 shares during the period. AbbVie accounts for 0.4% of DT Investment Partners LLC’s portfolio, making the stock its 21st largest holding. DT Investment Partners LLC’s holdings in AbbVie were worth $1,920,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in ABBV. State Street Corp increased its holdings in AbbVie by 2.4% in the 1st quarter. State Street Corp now owns 72,969,530 shares of the company’s stock valued at $4,754,696,000 after acquiring an additional 1,696,042 shares during the last quarter. Legal & General Group Plc increased its holdings in AbbVie by 4.1% in the 1st quarter. Legal & General Group Plc now owns 7,918,192 shares of the company’s stock valued at $515,956,000 after acquiring an additional 312,055 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in AbbVie by 2.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 5,136,674 shares of the company’s stock valued at $334,706,000 after acquiring an additional 130,740 shares during the last quarter. Aristotle Capital Management LLC increased its holdings in AbbVie by 3.5% in the 1st quarter. Aristotle Capital Management LLC now owns 4,526,623 shares of the company’s stock valued at $294,954,000 after acquiring an additional 154,719 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in AbbVie by 6.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,151,990 shares of the company’s stock valued at $205,384,000 after acquiring an additional 193,410 shares during the last quarter. Hedge funds and other institutional investors own 68.26% of the company’s stock.
In related news, Chairman Richard A. Gonzalez sold 193,131 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $71.00, for a total transaction of $13,712,301.00. Following the completion of the sale, the chairman now directly owns 469,623 shares in the company, valued at $33,343,233. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Henry O. Gosebruch sold 18,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $70.09, for a total transaction of $1,261,620.00. Following the sale, the insider now owns 96,074 shares of the company’s stock, valued at $6,733,826.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 379,890 shares of company stock valued at $27,187,817. 0.23% of the stock is owned by company insiders.
ILLEGAL ACTIVITY NOTICE: “AbbVie Inc. (ABBV) Stake Increased by DT Investment Partners LLC” was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another site, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this report can be viewed at https://www.thecerbatgem.com/2017/10/10/abbvie-inc-abbv-stake-increased-by-dt-investment-partners-llc.html.
AbbVie Inc. (NYSE ABBV) opened at 90.78 on Tuesday. AbbVie Inc. has a 1-year low of $55.06 and a 1-year high of $91.33. The company’s 50 day moving average is $82.84 and its 200-day moving average is $72.22. The stock has a market capitalization of $144.71 billion, a PE ratio of 22.33 and a beta of 1.51.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.02. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The firm had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period last year, the business earned $1.26 earnings per share. AbbVie’s revenue was up 7.6% compared to the same quarter last year. Analysts forecast that AbbVie Inc. will post $5.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 2.82%. The ex-dividend date is Thursday, October 12th. AbbVie’s payout ratio is currently 62.90%.
A number of brokerages have issued reports on ABBV. Vetr upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 price target on the stock in a report on Wednesday, July 26th. Deutsche Bank AG reiterated a “hold” rating and issued a $66.00 price target (up from $65.00) on shares of AbbVie in a report on Monday, July 17th. BidaskClub downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Jefferies Group LLC reiterated a “buy” rating and issued a $94.00 price target (up from $92.00) on shares of AbbVie in a report on Monday, July 17th. Finally, Zacks Investment Research upgraded shares of AbbVie from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. AbbVie presently has an average rating of “Buy” and an average target price of $89.90.
AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
Receive News & Stock Ratings for AbbVie Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie Inc. and related stocks with our FREE daily email newsletter.