AbbVie Inc (ABBV) Shares Bought by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lifted its position in shares of AbbVie Inc (NYSE:ABBV) by 545.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,336 shares of the company’s stock after buying an additional 45,079 shares during the period. Cubist Systematic Strategies LLC’s holdings in AbbVie were worth $3,867,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ABBV. Day & Ennis LLC boosted its position in AbbVie by 2.2% in the 2nd quarter. Day & Ennis LLC now owns 10,448 shares of the company’s stock valued at $758,000 after buying an additional 226 shares during the last quarter. Westover Capital Advisors LLC boosted its position in AbbVie by 97.7% in the 2nd quarter. Westover Capital Advisors LLC now owns 20,051 shares of the company’s stock valued at $1,454,000 after buying an additional 9,907 shares during the last quarter. Carret Asset Management LLC boosted its position in AbbVie by 13.0% in the 2nd quarter. Carret Asset Management LLC now owns 72,874 shares of the company’s stock valued at $5,284,000 after buying an additional 8,384 shares during the last quarter. Maverick Capital Ltd. boosted its position in AbbVie by 29.3% in the 2nd quarter. Maverick Capital Ltd. now owns 57,400 shares of the company’s stock valued at $4,162,000 after buying an additional 13,000 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its position in AbbVie by 15.3% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 953,539 shares of the company’s stock valued at $69,139,000 after buying an additional 126,435 shares during the last quarter. Institutional investors and hedge funds own 69.32% of the company’s stock.

In other AbbVie news, VP Robert A. Michael sold 6,699 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the sale, the vice president now owns 10,007 shares in the company, valued at $880,616. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Henry O. Gosebruch sold 18,300 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the completion of the sale, the insider now owns 81,287 shares in the company, valued at approximately $7,360,537.85. The disclosure for this sale can be found here. Insiders sold 268,825 shares of company stock worth $25,186,090 in the last 90 days. 0.23% of the stock is owned by company insiders.

A number of research firms have weighed in on ABBV. Zacks Investment Research cut shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. ValuEngine cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. BMO Capital Markets set a $84.00 price target on shares of AbbVie and gave the stock a “hold” rating in a research report on Monday, December 4th. BidaskClub raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 11th. Finally, Leerink Swann set a $106.00 price target on shares of AbbVie and gave the stock a “buy” rating in a research report on Tuesday, December 5th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $97.96.

Shares of AbbVie Inc (NYSE ABBV) opened at $96.47 on Tuesday. The firm has a market cap of $153,177.45, a PE ratio of 18.07, a P/E/G ratio of 1.33 and a beta of 1.52. AbbVie Inc has a 12 month low of $59.27 and a 12 month high of $98.52. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. AbbVie’s quarterly revenue was up 8.8% on a year-over-year basis. analysts expect that AbbVie Inc will post 5.55 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.94%. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio (DPR) is presently 62.29%.

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AbbVie 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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