South Street Advisors LLC decreased its position in AbbVie Inc (NYSE:ABBV) by 1.6% during the 3rd quarter, Holdings Channel reports. The fund owned 162,905 shares of the company’s stock after selling 2,600 shares during the quarter. AbbVie comprises 2.8% of South Street Advisors LLC’s investment portfolio, making the stock its 5th largest holding. South Street Advisors LLC’s holdings in AbbVie were worth $14,475,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of ABBV. Jennison Associates LLC bought a new position in AbbVie in the third quarter valued at about $544,418,000. Capital International Investors boosted its holdings in AbbVie by 137.7% in the third quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock valued at $697,989,000 after acquiring an additional 4,550,954 shares during the last quarter. Vanguard Group Inc. boosted its holdings in AbbVie by 3.3% in the second 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 during the last quarter. Janus Henderson Group PLC boosted its holdings in AbbVie by 1,949.7% in the second quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock valued at $277,967,000 after acquiring an additional 3,646,510 shares during the last quarter. Finally, Orbis Allan Gray Ltd boosted its holdings in AbbVie by 35.7% in the second 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 during the last quarter. Institutional investors and hedge funds own 69.49% of the company’s stock.
In related news, SVP Timothy J. Richmond sold 87,040 shares of AbbVie stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $98.45, for a total value of $8,569,088.00. Following the sale, the senior vice president now owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Laura J. Schumacher sold 145,510 shares of AbbVie stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $96.71, for a total value of $14,072,272.10. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.
Shares of AbbVie Inc (ABBV) opened at $118.60 on Tuesday. The company has a market capitalization of $188,333.59, a PE ratio of 36.05, a PEG ratio of 1.13 and a beta of 1.60. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08. AbbVie Inc has a 1 year low of $61.17 and a 1 year high of $125.86.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.04. The company had revenue of $7.74 billion for the quarter, compared to analyst estimates of $7.53 billion. AbbVie had a return on equity of 152.78% and a net margin of 18.82%. AbbVie’s revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 earnings per share. research analysts forecast that AbbVie Inc will post 7.46 EPS for the current year.
AbbVie announced that its Board of Directors has initiated a share buyback plan 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 plans are generally an indication that the company’s board believes its shares are undervalued.
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 given a dividend of $0.96 per share. The ex-dividend date is Thursday, April 12th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.24%. This is a positive change from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s dividend payout ratio (DPR) is currently 86.32%.
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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