Gulf International Bank UK Ltd grew its holdings in shares of AbbVie Inc (NYSE:ABBV) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 504,499 shares of the company’s stock after purchasing an additional 1,900 shares during the period. Gulf International Bank UK Ltd’s holdings in AbbVie were worth $48,790,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Bristlecone Advisors LLC acquired a new stake in AbbVie in the 3rd quarter valued at $113,000. Ffcm LLC boosted its stake in AbbVie by 167.2% in the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after purchasing an additional 963 shares in the last quarter. Hudock Capital Group LLC boosted its stake in AbbVie by 109.5% in the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after purchasing an additional 806 shares in the last quarter. Hershey Trust Co. bought a new stake in shares of AbbVie during the third quarter worth $139,000. Finally, BDO Wealth Advisors LLC bought a new stake in shares of AbbVie during the second quarter worth $115,000. 70.63% of the stock is currently owned by hedge funds and other institutional investors.
ABBV has been the subject of a number of recent research reports. Societe Generale boosted their target price on AbbVie in a research report on Tuesday, November 21st. SunTrust Banks upped their price objective on AbbVie to $157.00 and gave the company an “average” rating in a report on Monday, January 29th. Jefferies Group boosted their target price on AbbVie from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of AbbVie in a research report on Tuesday, January 2nd. Finally, Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. AbbVie currently has a consensus rating of “Buy” and an average target price of $120.96.
In other AbbVie news, VP Robert A. Michael sold 992 shares of the business’s 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Laura J. Schumacher sold 145,510 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $96.71, for a total transaction of $14,072,272.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 443,747 shares of company stock worth $47,226,935. 0.23% of the stock is owned by company insiders.
AbbVie Inc (NYSE:ABBV) traded down $0.81 during mid-day trading on Wednesday, reaching $118.94. The company’s stock had a trading volume of 3,539,124 shares, compared to its average volume of 6,639,621. AbbVie Inc has a fifty-two week low of $63.12 and a fifty-two week high of $125.86. The firm has a market cap of $188,910.00, a P/E ratio of 21.47, a P/E/G ratio of 1.12 and a beta of 1.52. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.28 and a quick ratio of 1.18.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.04. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The firm had revenue of $7.74 billion for the quarter, compared to the consensus estimate of $7.53 billion. During the same quarter in the previous year, the business earned $1.20 EPS. The company’s revenue was up 13.9% compared to the same quarter last year. equities research analysts expect that AbbVie Inc will post 7.48 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be paid a $0.96 dividend. This is an increase from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date is Thursday, April 12th. This represents a $3.84 annualized dividend and a yield of 3.23%. AbbVie’s dividend payout ratio is presently 51.26%.
AbbVie declared that its board has authorized a stock repurchase program on Thursday, February 15th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
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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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