Obermeyer Wood Investment Counsel Lllp lowered its position in AbbVie Inc (NYSE:ABBV) by 10.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,674 shares of the company’s stock after selling 875 shares during the period. Obermeyer Wood Investment Counsel Lllp’s holdings in AbbVie were worth $726,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. raised its position in shares of AbbVie by 2.8% during the 4th quarter. BlackRock Inc. now owns 101,322,201 shares of the company’s stock worth $9,798,871,000 after purchasing an additional 2,714,857 shares during the last quarter. Geode Capital Management LLC raised its position in shares of AbbVie by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 16,042,851 shares of the company’s stock worth $1,548,096,000 after purchasing an additional 697,191 shares during the last quarter. Jennison Associates LLC raised its position in shares of AbbVie by 85.3% during the 4th quarter. Jennison Associates LLC now owns 11,353,745 shares of the company’s stock worth $1,098,021,000 after purchasing an additional 5,227,056 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of AbbVie by 3.5% during the 4th quarter. TIAA CREF Investment Management LLC now owns 10,321,140 shares of the company’s stock worth $998,157,000 after purchasing an additional 347,642 shares during the last quarter. Finally, Capital International Investors raised its position in shares of AbbVie by 137.7% during 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 during the last quarter. Institutional investors and hedge funds own 69.40% of the company’s stock.
Several research analysts recently weighed in on the stock. Credit Suisse Group set a $89.00 price target on shares of AbbVie and gave the stock a “sell” rating in a research report on Wednesday, June 6th. Piper Jaffray Companies downgraded shares of AbbVie from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $125.86 to $66.62 in a report on Friday, June 1st. Argus cut their price objective on shares of AbbVie from $145.00 to $130.00 and set a “buy” rating for the company in a report on Monday, June 11th. BMO Capital Markets reiterated a “sell” rating and issued a $80.00 price objective on shares of AbbVie in a report on Thursday, April 5th. Finally, Jefferies Financial Group set a $122.00 price objective on shares of AbbVie and gave the company a “buy” rating in a report on Friday, April 13th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $106.51.
AbbVie opened at $99.57 on Monday, Marketbeat.com reports. AbbVie Inc has a 1-year low of $69.38 and a 1-year high of $125.86. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.20 and a quick ratio of 1.10. The company has a market capitalization of $158.01 billion, a PE ratio of 17.78, a PEG ratio of 0.93 and a beta of 1.61.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, April 26th. The company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.08. AbbVie had a net margin of 21.55% and a return on equity of 186.47%. The firm had revenue of $7.93 billion during the quarter, compared to the consensus estimate of $7.60 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. equities analysts forecast that AbbVie Inc will post 7.8 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 15th. Investors of record on Friday, July 13th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.86%. AbbVie’s dividend payout ratio (DPR) is presently 68.57%.
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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