St. Louis Trust Co raised its stake in AbbVie Inc (NYSE:ABBV) by 58.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,449 shares of the company’s stock after purchasing an additional 2,016 shares during the quarter. St. Louis Trust Co’s holdings in AbbVie were worth $527,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of ABBV. Capital Research Global Investors raised its holdings in AbbVie by 1.2% in the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock valued at $12,926,708,000 after acquiring an additional 2,130,919 shares in the last quarter. Vanguard Group Inc. raised its holdings in AbbVie by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after acquiring an additional 3,706,941 shares in the last quarter. BlackRock Inc. raised its holdings in AbbVie by 2.0% in the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock valued at $6,821,375,000 after acquiring an additional 1,864,418 shares in the last quarter. Orbis Allan Gray Ltd raised its holdings in AbbVie by 35.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after acquiring an additional 3,340,038 shares in the last quarter. Finally, Woodford Investment Management Ltd raised its holdings in AbbVie by 8.6% in the 2nd quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock valued at $859,589,000 after acquiring an additional 937,500 shares in the last quarter. Hedge funds and other institutional investors own 70.63% of the company’s stock.
Several equities analysts have weighed in on the company. BMO Capital Markets set a $95.00 price objective on AbbVie and gave the company a “sell” rating in a report on Tuesday, March 13th. Vetr raised AbbVie from a “buy” rating to a “strong-buy” rating and set a $128.42 price objective for the company in a report on Tuesday, March 6th. Jefferies Group set a $145.00 price objective on AbbVie and gave the company a “buy” rating in a report on Monday, February 26th. Evercore ISI reaffirmed a “buy” rating and issued a $144.00 price objective on shares of AbbVie in a report on Monday, January 29th. Finally, Leerink Swann set a $106.00 price objective on AbbVie and gave the company a “buy” rating in a report on Tuesday, December 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $120.96.
In related news, VP Robert A. Michael sold 992 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $120.31, for a total transaction of $119,347.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Robert A. Michael sold 4,294 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $119.43, for a total value of $512,832.42. Following the sale, the vice president now owns 11,170 shares in the company, valued at approximately $1,334,033.10. The disclosure for this sale can be found here. Insiders have sold a total of 298,237 shares of company stock worth $33,154,663 in the last 90 days. 0.23% of the stock is currently owned by corporate insiders.
AbbVie Inc (NYSE ABBV) opened at $113.71 on Friday. AbbVie Inc has a 52 week low of $63.12 and a 52 week high of $125.86. The company has a quick ratio of 1.18, a current ratio of 1.28 and a debt-to-equity ratio of 6.07. The stock has a market capitalization of $180,568.41, a price-to-earnings ratio of 34.56, a PEG ratio of 1.07 and a beta of 1.52.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.04. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. 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 company posted $1.20 EPS. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. sell-side analysts expect that AbbVie Inc will post 7.48 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be paid a $0.96 dividend. This is a positive change 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 dividend yield of 3.38%. AbbVie’s dividend payout ratio (DPR) is presently 86.32%.
AbbVie announced that its Board of Directors has authorized a share repurchase program on Thursday, February 15th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
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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