Morse Asset Management Inc lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,545 shares of the company’s stock after buying an additional 1,035 shares during the quarter. AbbVie comprises 1.7% of Morse Asset Management Inc’s investment portfolio, making the stock its 17th biggest position. Morse Asset Management Inc’s holdings in AbbVie were worth $6,049,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Jennison Associates LLC purchased a new stake in AbbVie in the 3rd quarter worth approximately $544,418,000. Capital International Investors lifted its stake in AbbVie by 137.7% in the 3rd quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock worth $697,989,000 after purchasing an additional 4,550,954 shares in the last quarter. Vanguard Group Inc. lifted its stake in AbbVie by 3.3% in the 2nd 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 in the last quarter. Janus Henderson Group PLC lifted its stake in AbbVie by 1,949.7% in the 2nd quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock worth $277,967,000 after purchasing an additional 3,646,510 shares in the last quarter. Finally, Orbis Allan Gray Ltd lifted its stake in AbbVie by 35.7% in the 2nd 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 in the last quarter. Institutional investors own 70.51% of the company’s stock.
AbbVie Inc. (ABBV) opened at $98.10 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.18 and a debt-to-equity ratio of 6.07. AbbVie Inc. has a twelve month low of $63.12 and a twelve month high of $125.86. The company has a market cap of $178,567.56, a price-to-earnings ratio of 29.82, a P/E/G ratio of 1.06 and a beta of 1.52.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.04. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The company had revenue of $7.74 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same quarter last year, the firm earned $1.20 EPS. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. research analysts forecast that AbbVie Inc. will post 7.48 earnings per share for the current year.
AbbVie declared that its board has approved a stock buyback plan on Thursday, February 15th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be issued a dividend of $0.96 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.84 annualized dividend and a dividend yield of 3.91%. This is a positive change from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s dividend payout ratio (DPR) is currently 86.32%.
In related news, insider Laura J. Schumacher sold 25,000 shares of the stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $117.85, for a total transaction of $2,946,250.00. Following the transaction, the insider now owns 123,317 shares of the company’s stock, valued at approximately $14,532,908.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Robert A. Michael sold 992 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $120.31, for a total transaction of $119,347.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 211,197 shares of company stock worth $24,585,575. 0.23% of the stock is owned by insiders.
ABBV has been the topic of a number of research analyst reports. Jefferies Group set a $145.00 price target on shares of AbbVie and gave the stock a “buy” rating in a report on Monday, February 26th. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a report on Thursday, January 18th. Vetr raised shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $113.08 price target on the stock in a report on Wednesday, December 20th. Credit Suisse Group set a $98.00 price target on shares of AbbVie and gave the stock a “hold” rating in a report on Monday, January 22nd. Finally, BMO Capital Markets set a $84.00 price target on shares of AbbVie and gave the stock a “hold” rating in a report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. AbbVie presently has a consensus rating of “Buy” and a consensus price target of $120.96.
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AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
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