Capital Analysts LLC Buys 783 Shares of AbbVie Inc (ABBV)
Capital Analysts LLC grew its stake in AbbVie Inc (NYSE:ABBV) by 4.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,844 shares of the company’s stock after buying an additional 783 shares during the period. Capital Analysts LLC’s holdings in AbbVie were worth $1,497,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Capital Research Global Investors grew its stake 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 purchasing an additional 2,130,919 shares during the period. Vanguard Group Inc. grew its stake 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 purchasing an additional 3,706,941 shares during the period. BlackRock Inc. grew its stake 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 purchasing an additional 1,864,418 shares during the period. Orbis Allan Gray Ltd grew its stake 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 purchasing an additional 3,340,038 shares during the period. Finally, Woodford Investment Management Ltd grew its stake 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 purchasing an additional 937,500 shares during the period. 69.19% of the stock is owned by institutional investors.
In other news, SVP Timothy J. Richmond sold 87,040 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 113,118 shares in the company, valued at $11,136,467.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 transaction, the chairman now owns 492,030 shares in the company, valued at approximately $46,255,740.30. The disclosure for this sale can be found here. Insiders sold 494,676 shares of company stock worth $47,237,938 in the last 90 days. Corporate insiders own 0.23% of the company’s stock.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating the Zacks’ 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 quarter last year, the company earned $1.21 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. equities research analysts expect that AbbVie Inc will post 5.56 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio (DPR) is currently 68.93%.
Several equities research analysts recently commented on ABBV shares. UBS Group cut 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 research note on Monday, September 25th. Jefferies Group reaffirmed a “buy” rating and set a $107.00 target price on shares of AbbVie in a research note on Thursday, September 28th. Deutsche Bank raised their target price on AbbVie to $88.00 and gave the stock a “hold” rating in a research note 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 research note 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 research note on Friday, September 29th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $101.38.
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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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