Foresters Investment Management Company Inc. increased its position in AbbVie Inc (NYSE:ABBV) by 0.1% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 660,060 shares of the company’s stock after buying an additional 950 shares during the period. Foresters Investment Management Company Inc.’s holdings in AbbVie were worth $41,148,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of ABBV. State Street Corp boosted its position in shares of AbbVie by 4.0% in the fourth quarter. State Street Corp now owns 71,273,488 shares of the company’s stock valued at $4,463,150,000 after buying an additional 2,763,770 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of AbbVie by 2.5% in the third quarter. BlackRock Fund Advisors now owns 20,582,203 shares of the company’s stock valued at $1,298,120,000 after buying an additional 509,635 shares during the last quarter. Federated Investors Inc. PA raised its stake in AbbVie by 0.6% in the fourth quarter. Federated Investors Inc. PA now owns 15,058,050 shares of the company’s stock valued at $942,935,000 after buying an additional 94,872 shares during the last quarter. Glenview Capital Management LLC purchased a new stake in AbbVie during the fourth quarter valued at approximately $570,905,000. Finally, Prudential PLC raised its stake in AbbVie by 12.6% in the fourth quarter. Prudential PLC now owns 7,011,026 shares of the company’s stock valued at $439,030,000 after buying an additional 786,487 shares during the last quarter. Hedge funds and other institutional investors own 66.67% of the company’s stock.
Shares of AbbVie Inc (NYSE:ABBV) traded up 0.80% during midday trading on Thursday, hitting $63.96. 1,591,127 shares of the stock were exchanged. AbbVie Inc has a one year low of $55.06 and a one year high of $68.12. The firm has a 50 day moving average of $64.92 and a 200-day moving average of $62.18. The company has a market cap of $101.95 billion, a price-to-earnings ratio of 17.62 and a beta of 1.57.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 27th. The company reported $1.20 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.20. The business had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.92 billion. AbbVie had a return on equity of 141.55% and a net margin of 23.22%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 EPS. Equities analysts expect that AbbVie Inc will post $5.50 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Thursday, April 13th will be issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend is Tuesday, April 11th. AbbVie’s dividend payout ratio (DPR) is presently 70.52%.
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Several analysts have commented on the stock. BMO Capital Markets reissued a “hold” rating and set a $63.00 price target on shares of AbbVie in a research report on Tuesday. Societe Generale raised shares of AbbVie from a “sell” rating to a “hold” rating in a research report on Wednesday, March 22nd. Vetr raised shares of AbbVie from a “hold” rating to a “strong-buy” rating and set a $74.72 price target for the company in a research report on Monday, March 13th. Goldman Sachs Group Inc raised shares of AbbVie from a “buy” rating to a “conviction-buy” rating and increased their price objective for the company from $74.00 to $80.00 in a research report on Saturday, March 11th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $90.00 price objective (up from $4.30) on shares of AbbVie in a research report on Tuesday, March 7th. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $72.17.
In other AbbVie news, SVP Timothy J. Richmond sold 22,451 shares of the stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $65.29, for a total transaction of $1,465,825.79. Following the completion of the transaction, the senior vice president now owns 26,078 shares in the company, valued at approximately $1,702,632.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert A. Michael sold 5,132 shares of the firm’s stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $65.29, for a total value of $335,068.28. Following the completion of the transaction, the vice president now owns 16,706 shares of the company’s stock, valued at approximately $1,090,734.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 139,599 shares of company stock valued at $9,038,322. Corporate insiders own 0.11% of the company’s stock.
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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