Park National Corp OH boosted its holdings in AbbVie Inc (NYSE:ABBV) by 2.0% in the third quarter, HoldingsChannel reports. The firm owned 269,738 shares of the company’s stock after buying an additional 5,245 shares during the quarter. AbbVie comprises about 1.4% of Park National Corp OH’s investment portfolio, making the stock its 23rd largest holding. Park National Corp OH’s holdings in AbbVie were worth $25,512,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Morgan Stanley boosted its holdings in shares of AbbVie by 3.2% in the second quarter. Morgan Stanley now owns 11,134,470 shares of the company’s stock valued at $1,031,608,000 after acquiring an additional 348,882 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of AbbVie by 15.9% in the second quarter. Janus Henderson Group PLC now owns 5,243,956 shares of the company’s stock valued at $485,867,000 after acquiring an additional 717,452 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of AbbVie by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,824,617 shares of the company’s stock valued at $447,001,000 after acquiring an additional 157,594 shares during the period. Franklin Resources Inc. boosted its holdings in shares of AbbVie by 8.5% in the first quarter. Franklin Resources Inc. now owns 4,359,665 shares of the company’s stock valued at $412,643,000 after acquiring an additional 340,709 shares during the period. Finally, Aristotle Capital Management LLC boosted its holdings in shares of AbbVie by 0.9% in the first quarter. Aristotle Capital Management LLC now owns 3,787,873 shares of the company’s stock valued at $358,522,000 after acquiring an additional 34,727 shares during the period. 69.37% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE ABBV opened at $79.56 on Friday. The company has a debt-to-equity ratio of 8.70, a current ratio of 0.80 and a quick ratio of 0.71. AbbVie Inc has a 1-year low of $77.50 and a 1-year high of $125.86. The firm has a market cap of $117.89 billion, a P/E ratio of 14.21, a P/E/G ratio of 0.77 and a beta of 1.62.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 4.83%. The ex-dividend date is Friday, October 12th. AbbVie’s dividend payout ratio is presently 68.57%.
In related news, EVP Michael Severino sold 50,000 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the completion of the sale, the executive vice president now directly owns 111,481 shares of the company’s stock, valued at $10,871,627.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.07% of the stock is owned by company insiders.
Several equities research analysts have recently weighed in on the company. Credit Suisse Group set a $85.00 price objective on AbbVie and gave the company a “hold” rating in a report on Sunday, October 14th. BMO Capital Markets reissued a “sell” rating and issued a $78.00 price objective on shares of AbbVie in a report on Friday, July 27th. Berenberg Bank assumed coverage on AbbVie in a report on Thursday, July 12th. They issued a “hold” rating and a $105.00 price objective for the company. Cowen set a $110.00 price objective on AbbVie and gave the company a “buy” rating in a report on Friday, July 27th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $100.00 price objective on shares of AbbVie in a report on Friday, July 27th. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. AbbVie presently has an average rating of “Hold” and an average price target of $105.68.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.
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