State of Wisconsin Investment Board raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 15.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,458,692 shares of the company’s stock after acquiring an additional 198,440 shares during the quarter. State of Wisconsin Investment Board owned approximately 0.09% of AbbVie worth $105,770,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Acropolis Investment Management LLC acquired a new stake in AbbVie in the second quarter worth about $106,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in AbbVie in the 1st quarter valued at approximately $108,000. Atwood & Palmer Inc. increased its holdings in shares of AbbVie by 1,333.3% during the 1st quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock worth $140,000 after acquiring an additional 2,000 shares during the last quarter. Tradewinds Capital Management LLC grew its holdings in AbbVie by 87.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock valued at $148,000 after buying an additional 1,057 shares in the last quarter. Finally, Exane Asset Management acquired a new position in AbbVie in the 2nd quarter valued at $181,000. 68.16% of the stock is owned by institutional investors.
AbbVie Inc. (NYSE ABBV) opened at $94.75 on Wednesday. AbbVie Inc. has a twelve month low of $58.60 and a twelve month high of $98.26. 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 company has a market capitalization of $151,852.42, a price-to-earnings ratio of 17.91, a P/E/G ratio of 1.32 and a beta of 1.51.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.02. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. AbbVie’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.21 EPS. analysts anticipate that AbbVie Inc. will post 5.55 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a $0.71 dividend. The ex-dividend date is Thursday, January 11th. This represents a $2.84 annualized dividend and a yield of 3.00%. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio (DPR) is currently 62.29%.
In related news, SVP Azita Saleki-Gerhardt sold 8,300 shares of AbbVie stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $85.02, for a total transaction of $705,666.00. Following the transaction, the senior vice president now directly owns 93,099 shares of the company’s stock, valued at $7,915,276.98. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael Severino sold 25,633 shares of AbbVie stock in a transaction on Friday, November 10th. The stock was sold at an average price of $94.69, for a total transaction of $2,427,188.77. Following the completion of the transaction, the executive vice president now directly owns 114,922 shares in the company, valued at $10,881,964.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,932 shares of company stock valued at $5,379,432. 0.23% of the stock is currently owned by company insiders.
A number of research firms have recently weighed in on ABBV. upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Saturday. downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. SunTrust Banks, Inc. reiterated a “buy” rating on shares of AbbVie in a research report on Monday, October 30th. decreased their target price on AbbVie from $108.00 to $107.00 and set an “outperform” rating for the company in a research note on Monday, October 30th. Finally, set a $66.00 price objective on AbbVie and gave the company a “hold” rating in a research note on Friday, October 27th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $93.68.
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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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