Alps Advisors Inc. reduced its stake in AbbVie Inc (NYSE:ABBV) by 20.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 542,883 shares of the company’s stock after selling 141,910 shares during the period. Alps Advisors Inc.’s holdings in AbbVie were worth $48,241,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Jennison Associates LLC bought a new position in shares of AbbVie during the third quarter valued at approximately $544,418,000. Vanguard Group Inc. boosted its stake in shares of AbbVie by 3.3% during the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after purchasing an additional 3,706,941 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of AbbVie by 1,949.7% during the second quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock valued at $277,967,000 after purchasing an additional 3,646,510 shares in the last quarter. Orbis Allan Gray Ltd boosted its stake in shares of AbbVie by 35.7% during the second quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after purchasing an additional 3,340,038 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of AbbVie by 1.2% during the second quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock valued at $12,926,708,000 after purchasing an additional 2,130,919 shares in the last quarter. Institutional investors and hedge funds own 69.19% of the company’s stock.
AbbVie Inc (NYSE ABBV) opened at $104.36 on Thursday. The stock has a market cap of $166,360.00, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 1.20 and a beta of 1.53. AbbVie Inc has a fifty-two week low of $59.27 and a fifty-two week high of $104.84. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.72%. This is a boost from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio (DPR) is currently 68.93%.
In related news, SVP Timothy J. Richmond sold 87,040 shares of the firm’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the completion of the transaction, the senior vice president now owns 113,118 shares of the company’s stock, valued at $11,136,467.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the transaction, the chairman now directly owns 492,030 shares of the company’s stock, valued at approximately $46,255,740.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 494,676 shares of company stock valued at $47,237,938. Corporate insiders own 0.23% of the company’s stock.
A number of equities research analysts recently commented on the stock. BMO Capital Markets set a $84.00 target price on shares of AbbVie and gave the company a “hold” rating in a research report on Thursday, January 11th. Vetr cut shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 target price for the company. in a research report on Monday, January 8th. Zacks Investment Research cut shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Jefferies Group increased their target price on shares of AbbVie from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Finally, Piper Jaffray Companies reissued a “buy” rating on shares of AbbVie in a research report on Tuesday, January 2nd. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $100.94.
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AbbVie Company Profile
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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