Jennison Associates LLC Acquires Shares of 6,126,689 AbbVie Inc (ABBV)

Jennison Associates LLC acquired a new position in AbbVie Inc (NYSE:ABBV) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,126,689 shares of the company’s stock, valued at approximately $544,418,000. Jennison Associates LLC owned 0.38% of AbbVie as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. BKD Wealth Advisors LLC boosted its position in shares of AbbVie by 7.4% during the second quarter. BKD Wealth Advisors LLC now owns 15,238 shares of the company’s stock worth $1,105,000 after buying an additional 1,051 shares during the period. Baker Boyer National Bank purchased a new position in shares of AbbVie during the second quarter worth $204,000. Capital One National Association boosted its position in shares of AbbVie by 3.4% during the second quarter. Capital One National Association now owns 142,470 shares of the company’s stock worth $10,331,000 after buying an additional 4,685 shares during the period. Deane Retirement Strategies Inc. purchased a new position in shares of AbbVie during the second quarter worth $1,733,000. Finally, Perkins Coie Trust Co boosted its position in shares of AbbVie by 7.1% during the second quarter. Perkins Coie Trust Co now owns 23,955 shares of the company’s stock worth $1,737,000 after buying an additional 1,588 shares during the period. Institutional investors own 69.19% of the company’s stock.

In other news, insider Henry O. Gosebruch sold 18,300 shares of the 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 sale, the insider now directly owns 81,287 shares in the company, valued at $7,360,537.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Laura J. Schumacher sold 145,510 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $96.71, for a total value of $14,072,272.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 494,676 shares of company stock worth $47,237,938. Insiders own 0.23% of the company’s stock.

Shares of AbbVie Inc (ABBV) opened at $104.36 on Thursday. The stock has a market capitalization of $163,618.09, a price-to-earnings ratio of 25.39, a PEG ratio of 1.23 and a beta of 1.52. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. AbbVie Inc has a 52 week low of $59.27 and a 52 week high of $104.84.

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

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

Several research firms have 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 report on Monday, January 8th. Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Jefferies Group raised their price target on AbbVie from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. BMO Capital Markets set a $84.00 price target on AbbVie and gave the stock a “hold” rating in a research report on Thursday, January 11th. Finally, Piper Jaffray Companies restated a “buy” rating on shares of AbbVie in a research report on Tuesday, January 2nd. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. AbbVie currently has a consensus rating of “Buy” and a consensus target price of $100.94.

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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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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