AbbVie Inc (ABBV) Shares Bought by Iguana Healthcare Management LLC

Iguana Healthcare Management LLC grew its stake in AbbVie Inc (NYSE:ABBV) by 62.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 65,000 shares of the company’s stock after buying an additional 25,000 shares during the quarter. AbbVie accounts for approximately 3.1% of Iguana Healthcare Management LLC’s portfolio, making the stock its 6th biggest position. Iguana Healthcare Management LLC’s holdings in AbbVie were worth $5,776,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Research Global Investors raised its position in shares of AbbVie by 1.2% during the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock worth $12,926,708,000 after acquiring an additional 2,130,919 shares in the last quarter. Vanguard Group Inc. raised its position in shares of AbbVie by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after acquiring an additional 3,706,941 shares in the last quarter. BlackRock Inc. raised its position in shares of AbbVie by 2.0% during the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock worth $6,821,375,000 after acquiring an additional 1,864,418 shares in the last quarter. Orbis Allan Gray Ltd raised its position in shares of AbbVie by 35.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after acquiring an additional 3,340,038 shares in the last quarter. Finally, Woodford Investment Management Ltd raised its position in shares of AbbVie by 8.6% during the 2nd quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock worth $859,589,000 after acquiring an additional 937,500 shares in the last quarter. Institutional investors and hedge funds own 69.49% of the company’s stock.

Several brokerages have recently weighed in on ABBV. Piper Jaffray Companies raised their target price on AbbVie from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. SunTrust Banks raised their target price on AbbVie to $157.00 and gave the stock an “average” rating in a research report on Monday, January 29th. Leerink Swann lowered AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 target price on the stock. in a research report on Monday, January 29th. BMO Capital Markets lowered AbbVie from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $125.86 to $84.00 in a research report on Monday, January 29th. They noted that the move was a valuation call. Finally, Evercore ISI reissued a “buy” rating and set a $144.00 target price on shares of AbbVie in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. AbbVie has an average rating of “Buy” and an average price target of $118.44.

AbbVie Inc (NYSE:ABBV) opened at $117.56 on Friday. The company has a market capitalization of $187,237.91, a P/E ratio of 35.73, a price-to-earnings-growth ratio of 1.12 and a beta of 1.61. AbbVie Inc has a 12-month low of $61.45 and a 12-month high of $125.86. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.32 and a current ratio of 1.28.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, topping the 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 158.15% and a net margin of 18.82%. The firm’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 earnings per share. equities analysts expect that AbbVie Inc will post 7.47 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be given a dividend of $0.96 per share. This is a positive change from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date is Thursday, April 12th. This represents a $3.84 annualized dividend and a yield of 3.27%. AbbVie’s payout ratio is 86.32%.

AbbVie declared that its board has initiated a share buyback plan on Thursday, February 15th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

In other news, insider Laura J. Schumacher sold 145,510 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $96.71, for a total value of $14,072,272.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert A. Michael sold 992 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $120.31, for a total value of $119,347.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 233,542 shares of company stock worth $22,760,708. 0.23% of the stock is currently owned by corporate insiders.

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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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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