Swiss National Bank increased its holdings in AbbVie Inc (NYSE:ABBV) by 0.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,870,329 shares of the company’s stock after acquiring an additional 46,500 shares during the quarter. Swiss National Bank owned about 368,255.81% of AbbVie worth $521,637,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in the stock. Formidable Asset Management LLC lifted its stake in AbbVie by 0.3% in the second quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock worth $285,000 after acquiring an additional 10 shares during the period. WealthTrust Axiom LLC lifted its stake in AbbVie by 0.3% in the second quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock worth $312,000 after acquiring an additional 15 shares during the period. Abner Herrman & Brock LLC lifted its stake in AbbVie by 0.3% in the second quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock worth $456,000 after acquiring an additional 18 shares during the period. St. Louis Trust Co lifted its stake in AbbVie by 0.7% in the second quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock worth $248,000 after acquiring an additional 23 shares during the period. Finally, TRUE Private Wealth Advisors lifted its stake in AbbVie by 0.6% in the second quarter. TRUE Private Wealth Advisors now owns 4,814 shares of the company’s stock worth $349,000 after acquiring an additional 27 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 AbbVie stock in a transaction dated 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 transaction, the senior vice president now owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Henry O. Gosebruch sold 18,300 shares of AbbVie stock in a transaction dated 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 transaction, the insider now directly owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 494,676 shares of company stock valued at $47,237,938. 0.23% of the stock is owned by insiders.
A number of brokerages recently commented on ABBV. Vetr lowered AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 price target for the company. in a research note on Monday, January 8th. Barclays reissued a “hold” rating and set a $68.00 price objective on shares of AbbVie in a research report on Thursday, September 28th. BMO Capital Markets set a $84.00 price objective on AbbVie and gave the company a “hold” rating in a research report on Thursday, January 11th. Evercore ISI reissued an “outperform” rating and set a $100.00 price objective (up previously from $95.00) on shares of AbbVie in a research report on Saturday, September 30th. Finally, Piper Jaffray Companies reissued a “buy” rating on shares of AbbVie in a research report on Tuesday, January 2nd. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $100.94.
AbbVie Inc (NYSE:ABBV) opened at $100.34 on Tuesday. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. The stock has a market capitalization of $160,185.78, a PE ratio of 24.41, a PEG ratio of 1.20 and a beta of 1.52. AbbVie Inc has a 52-week low of $59.27 and a 52-week high of $101.28.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. AbbVie’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 EPS. research analysts expect that AbbVie Inc will post 5.54 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s payout ratio is currently 69.10%.
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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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