Public Employees Retirement Association of Colorado Sells 18,291 Shares of AbbVie Inc (ABBV)
Public Employees Retirement Association of Colorado lowered its stake in AbbVie Inc (NYSE:ABBV) by 6.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 288,112 shares of the company’s stock after selling 18,291 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in AbbVie were worth $25,602,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board lifted its position in AbbVie by 25.4% in the 3rd quarter. Canada Pension Plan Investment Board now owns 2,710,060 shares of the company’s stock valued at $240,816,000 after acquiring an additional 549,200 shares in the last quarter. BP PLC lifted its position in AbbVie by 1.3% in the 3rd quarter. BP PLC now owns 187,354 shares of the company’s stock valued at $16,644,000 after acquiring an additional 2,354 shares in the last quarter. Zevin Asset Management LLC lifted its position in AbbVie by 0.9% in the 3rd quarter. Zevin Asset Management LLC now owns 109,428 shares of the company’s stock valued at $9,724,000 after acquiring an additional 924 shares in the last quarter. Accredited Investors Inc. bought a new position in AbbVie in the 3rd quarter valued at approximately $255,000. Finally, Horseman Capital Management Ltd lifted its position in AbbVie by 31.3% in the 3rd quarter. Horseman Capital Management Ltd now owns 21,000 shares of the company’s stock valued at $1,866,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors own 69.18% of the company’s stock.
AbbVie Inc (ABBV) opened at $101.11 on Monday. The firm has a market capitalization of $161,415.03, a price-to-earnings ratio of 24.60, a PEG ratio of 1.20 and a beta of 1.52. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. AbbVie Inc has a twelve month low of $59.27 and a twelve month high of $101.20.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.81%. This is a boost from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio is presently 62.29%.
Several equities analysts recently issued reports on the company. UBS Group reaffirmed a “neutral” rating on shares of AbbVie in a research report on Friday, October 13th. Jefferies Group upped their price objective on AbbVie from $107.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, October 16th. Cowen reaffirmed a “hold” rating and issued a $95.00 price objective (up from $70.00) on shares of AbbVie in a research report on Monday, September 11th. BMO Capital Markets reaffirmed a “hold” rating and issued a $84.00 price objective on shares of AbbVie in a research report on Tuesday, November 21st. Finally, Piper Jaffray Companies upped their price objective on AbbVie to $115.00 and gave the company an “overweight” rating in a research report on Friday, October 27th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. AbbVie currently has a consensus rating of “Buy” and a consensus target price of $100.94.
In other news, SVP Timothy J. Richmond sold 87,040 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $98.45, for a total value of $8,569,088.00. Following the completion of the sale, the senior vice president now directly owns 113,118 shares in the company, valued at approximately $11,136,467.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Henry O. Gosebruch sold 18,300 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $90.55, for a total value of $1,657,065.00. Following the completion of the sale, the insider now owns 81,287 shares of the company’s stock, valued at $7,360,537.85. The disclosure for this sale can be found here. Insiders have sold a total of 494,676 shares of company stock worth $47,237,938 over the last three months. Insiders own 0.23% of the company’s stock.
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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.
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