SG Americas Securities LLC raised its position in shares of AbbVie Inc (NYSE:ABBV) by 139.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 351,888 shares of the company’s stock after buying an additional 1,239,877 shares during the quarter. SG Americas Securities LLC’s holdings in AbbVie were worth $34,031,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in ABBV. Capital Research Global Investors increased its position in AbbVie by 1.2% in the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock valued at $12,926,708,000 after acquiring an additional 2,130,919 shares during the period. Vanguard Group Inc. increased its position in AbbVie by 3.3% in the 2nd 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 period. BlackRock Inc. increased its position in AbbVie by 2.0% in the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock valued at $6,821,375,000 after acquiring an additional 1,864,418 shares during the period. Orbis Allan Gray Ltd increased its position in AbbVie by 35.7% in the 2nd 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 period. Finally, Woodford Investment Management Ltd increased its position in AbbVie by 8.6% in the 2nd quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock valued at $859,589,000 after acquiring an additional 937,500 shares during the period. Hedge funds and other institutional investors own 70.63% of the company’s stock.
In related news, EVP Carlos Alban sold 83,574 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $114.49, for a total transaction of $9,568,387.26. Following the completion of the sale, the executive vice president now directly owns 133,026 shares in the company, valued at $15,230,146.74. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Robert A. Michael sold 992 shares of the stock in a transaction on Tuesday, February 20th. The stock was 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. Over the last quarter, insiders have sold 298,237 shares of company stock valued at $33,154,663. 0.23% of the stock is owned by corporate insiders.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.04. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The company had revenue of $7.74 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same quarter in the prior year, the company earned $1.20 earnings per share. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. sell-side analysts expect that AbbVie Inc will post 7.48 EPS for the current fiscal year.
AbbVie declared that its board has authorized a stock buyback plan on Thursday, February 15th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.34%. This is a positive change from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, April 12th. AbbVie’s dividend payout ratio (DPR) is currently 51.26%.
A number of equities analysts have issued reports on ABBV shares. BMO Capital Markets set a $95.00 price target on AbbVie and gave the company a “sell” rating in a research note on Tuesday. Vetr raised AbbVie from a “buy” rating to a “strong-buy” rating and set a $128.42 price target for the company in a research note on Tuesday, March 6th. Jefferies Group set a $145.00 price target on AbbVie and gave the company a “buy” rating in a research note on Monday, February 26th. Piper Jaffray Companies increased their price target on AbbVie from $130.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Finally, Argus increased their price target on AbbVie from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. AbbVie currently has an average rating of “Buy” and an average price target of $120.96.
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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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