HRT Financial LLC Buys New Holdings in AbbVie Inc (ABBV)

HRT Financial LLC bought a new stake in AbbVie Inc (NYSE:ABBV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,566 shares of the company’s stock, valued at approximately $237,000.

Other large investors also recently added to or reduced their stakes in the company. Morgan Stanley boosted its position in AbbVie by 3.2% during the second quarter. Morgan Stanley now owns 11,134,470 shares of the company’s stock worth $1,031,608,000 after purchasing an additional 348,882 shares in the last quarter. Janus Henderson Group PLC boosted its position in AbbVie by 15.9% during the second quarter. Janus Henderson Group PLC now owns 5,243,956 shares of the company’s stock worth $485,867,000 after purchasing an additional 717,452 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in AbbVie by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 4,824,617 shares of the company’s stock worth $447,001,000 after purchasing an additional 157,594 shares in the last quarter. Franklin Resources Inc. boosted its position in AbbVie by 8.5% during the first quarter. Franklin Resources Inc. now owns 4,359,665 shares of the company’s stock worth $412,643,000 after purchasing an additional 340,709 shares in the last quarter. Finally, Aristotle Capital Management LLC boosted its position in AbbVie by 0.9% during the first quarter. Aristotle Capital Management LLC now owns 3,787,873 shares of the company’s stock worth $358,522,000 after purchasing an additional 34,727 shares in the last quarter. 69.37% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have commented on ABBV. Credit Suisse Group set a $85.00 target price on AbbVie and gave the stock a “sell” rating in a research report on Saturday, October 20th. Bank of America decreased their target price on AbbVie from $112.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, July 30th. Cowen set a $110.00 target price on AbbVie and gave the stock a “buy” rating in a research report on Friday, July 27th. Zacks Investment Research downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Saturday, July 14th. Finally, BMO Capital Markets reiterated a “sell” rating and set a $78.00 target price on shares of AbbVie in a research report on Friday, July 27th. Six research analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. AbbVie has an average rating of “Hold” and a consensus price target of $105.68.

In other news, EVP Michael Severino sold 50,000 shares of the business’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $97.52, for a total value of $4,876,000.00. Following the completion of the transaction, the executive vice president now directly owns 111,481 shares of the company’s stock, valued at $10,871,627.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.07% of the company’s stock.

NYSE ABBV opened at $79.56 on Friday. AbbVie Inc has a fifty-two week low of $77.50 and a fifty-two week high of $125.86. The firm has a market capitalization of $117.89 billion, a PE ratio of 14.21, a P/E/G ratio of 0.77 and a beta of 1.62. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of 8.70.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, November 2nd. The company reported $2.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.01 by $0.13. AbbVie had a return on equity of 362.05% and a net margin of 20.84%. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the previous year, the firm posted $1.41 earnings per share. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, research analysts predict that AbbVie Inc will post 7.86 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Friday, October 12th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.83%. AbbVie’s dividend payout ratio (DPR) is 68.57%.

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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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