Midwest Professional Planners LTD. boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 2.1% in the fourth quarter, Holdings Channel reports. The firm owned 10,382 shares of the company’s stock after purchasing an additional 215 shares during the quarter. Midwest Professional Planners LTD.’s holdings in AbbVie were worth $1,406,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. Allspring Global Investments Holdings LLC acquired a new stake in shares of AbbVie during the fourth quarter worth approximately $272,868,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of AbbVie by 1,661.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,912,992 shares of the company’s stock worth $206,354,000 after buying an additional 1,804,393 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of AbbVie by 183.7% during the third quarter. Renaissance Technologies LLC now owns 2,070,894 shares of the company’s stock worth $223,387,000 after buying an additional 1,340,970 shares in the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of AbbVie by 10.5% in the third quarter. UBS Asset Management Americas Inc. now owns 12,233,946 shares of the company’s stock valued at $1,319,676,000 after purchasing an additional 1,166,720 shares in the last quarter. Finally, Brandywine Global Investment Management LLC increased its holdings in shares of AbbVie by 511.5% in the third quarter. Brandywine Global Investment Management LLC now owns 1,145,886 shares of the company’s stock valued at $123,607,000 after purchasing an additional 958,493 shares in the last quarter. 67.03% of the stock is owned by institutional investors.
In related news, EVP Henry O. Gosebruch sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $148.26, for a total transaction of $2,223,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian L. Durkin sold 18,628 shares of the stock in a transaction that occurred on Wednesday, March 9th. The shares were sold at an average price of $150.01, for a total value of $2,794,386.28. The disclosure for this sale can be found here. Insiders have sold 304,423 shares of company stock valued at $45,925,851 over the last ninety days. 0.08% of the stock is owned by insiders.
AbbVie (NYSE:ABBV – Get Rating) last posted its quarterly earnings data on Friday, April 29th. The company reported $3.16 EPS for the quarter, beating the consensus estimate of $3.14 by $0.02. The business had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $13.61 billion. AbbVie had a net margin of 22.00% and a return on equity of 159.31%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.95 EPS. Equities research analysts expect that AbbVie Inc. will post 14.06 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 16th. Stockholders of record on Friday, April 15th will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Wednesday, April 13th. This represents a $5.64 annualized dividend and a dividend yield of 3.67%. AbbVie’s dividend payout ratio is currently 80.92%.
A number of analysts recently weighed in on ABBV shares. JPMorgan Chase & Co. raised their price target on shares of AbbVie from $165.00 to $180.00 in a report on Thursday, February 3rd. Mizuho raised their price target on shares of AbbVie from $154.00 to $166.00 and gave the company a “buy” rating in a report on Friday, February 4th. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $150.00 price target for the company. in a report on Friday, May 6th. Morgan Stanley raised their price target on shares of AbbVie from $142.00 to $192.00 and gave the company an “overweight” rating in a report on Wednesday, April 6th. Finally, Bank of America raised their price target on shares of AbbVie from $135.00 to $138.00 and gave the company a “neutral” rating in a report on Thursday, February 3rd. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AbbVie currently has a consensus rating of “Buy” and a consensus price target of $159.44.
About AbbVie (Get Rating)
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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