Schroder Investment Management Group lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 7.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,043,896 shares of the company’s stock after selling 156,890 shares during the period. Schroder Investment Management Group owned 0.13% of AbbVie worth $197,666,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of ABBV. Jennison Associates LLC purchased a new position in shares of AbbVie during the third quarter valued at about $544,418,000. Capital International Investors grew its position in shares of AbbVie by 137.7% during the third quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock valued at $697,989,000 after purchasing an additional 4,550,954 shares in the last quarter. Vanguard Group Inc. grew its position 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 grew its position 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. Finally, Orbis Allan Gray Ltd grew its position 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. Institutional investors and hedge funds own 70.65% of the company’s stock.
Shares of NYSE:ABBV opened at $91.87 on Thursday. The company has a quick ratio of 1.18, a current ratio of 1.28 and a debt-to-equity ratio of 6.07. AbbVie Inc. has a 12 month low of $64.61 and a 12 month high of $125.86. The stock has a market capitalization of $147,951.44, a P/E ratio of 16.41, a price-to-earnings-growth ratio of 0.89 and a beta of 1.61.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.84 annualized dividend and a yield of 4.18%. This is an increase from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s dividend payout ratio (DPR) is presently 68.57%.
AbbVie announced that its Board of Directors has initiated a stock buyback program on Thursday, February 15th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
A number of research analysts have recently weighed in on the company. ValuEngine upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Credit Suisse Group set a $135.00 price objective on AbbVie and gave the company a “hold” 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 price objective for the company. in a research report on Monday, January 29th. BMO Capital Markets restated a “sell” rating and set a $95.00 price objective on shares of AbbVie in a research report on Thursday, February 15th. Finally, Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. AbbVie presently has an average rating of “Buy” and an average target price of $117.85.
In other AbbVie news, Chairman Richard A. Gonzalez sold 8,280 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $117.88, for a total value of $976,046.40. Following the completion of the sale, the chairman now owns 321,292 shares of the company’s stock, valued at $37,873,900.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Robert A. Michael sold 992 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $120.31, for a total transaction of $119,347.52. The disclosure for this sale can be found here. In the last three months, insiders sold 211,197 shares of company stock valued at $24,585,575. 0.07% of the stock is owned by insiders.
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AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
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