Candriam Luxembourg S.C.A. trimmed its position in AbbVie Inc (NYSE:ABBV) by 4.0% in the 3rd quarter, Holdings Channel reports. The firm owned 217,416 shares of the company’s stock after selling 9,100 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in AbbVie were worth $19,320,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Capital Research Global Investors grew its holdings in AbbVie by 1.2% during the second quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock worth $12,926,708,000 after acquiring an additional 2,130,919 shares during the period. Vanguard Group Inc. grew its holdings in AbbVie by 3.3% during the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after acquiring an additional 3,706,941 shares during the period. BlackRock Inc. grew its holdings in AbbVie by 2.0% during the second quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock worth $6,821,375,000 after acquiring an additional 1,864,418 shares during the period. Orbis Allan Gray Ltd grew its holdings in AbbVie by 35.7% during the second quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after acquiring an additional 3,340,038 shares during the period. Finally, Woodford Investment Management Ltd grew its holdings in AbbVie by 8.6% during the second quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock worth $859,589,000 after acquiring an additional 937,500 shares during the period. Hedge funds and other institutional investors own 69.19% of the company’s stock.

ABBV has been the topic of several analyst reports. UBS Group lowered AbbVie from a “buy” rating to a “neutral” rating and raised their target price for the stock from $79.00 to $92.00 in a report on Monday, September 25th. Jefferies Group reaffirmed a “buy” rating and set a $107.00 target price on shares of AbbVie in a report on Thursday, September 28th. Deutsche Bank raised their target price on AbbVie to $88.00 and gave the stock a “hold” rating in a report on Thursday, September 28th. Morgan Stanley raised their target price on AbbVie from $70.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, September 29th. Finally, Argus raised their target price on AbbVie from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, September 29th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $100.94.

In other AbbVie news, insider Henry O. Gosebruch sold 18,300 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 81,287 shares of the company’s stock, valued at $7,360,537.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $94.01, for a total value of $20,512,323.93. Following the completion of the sale, the chairman now directly owns 492,030 shares in the company, valued at $46,255,740.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 494,676 shares of company stock worth $47,237,938. 0.23% of the stock is owned by corporate insiders.

Shares of AbbVie Inc (NYSE ABBV) opened at $104.36 on Thursday. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. AbbVie Inc has a 1-year low of $59.27 and a 1-year high of $104.84. The company has a market capitalization of $163,618.09, a P/E ratio of 25.39, a price-to-earnings-growth ratio of 1.23 and a beta of 1.52.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 27th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. During the same period last year, the company earned $1.21 earnings per share. AbbVie’s quarterly revenue was up 8.8% compared to the same quarter last year. equities research analysts anticipate that AbbVie Inc will post 5.54 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a $0.71 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio (DPR) is presently 69.10%.

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

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