Yellowstone Partners LLC reduced its holdings in AbbVie Inc (NYSE:ABBV) by 8.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,804 shares of the company’s stock after selling 1,096 shares during the quarter. Yellowstone Partners LLC’s holdings in AbbVie were worth $1,142,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of ABBV. Jennison Associates LLC acquired a new stake in AbbVie during the third quarter worth about $544,418,000. Capital International Investors grew its position in AbbVie by 137.7% during the third quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock worth $697,989,000 after buying an additional 4,550,954 shares in the last quarter. Vanguard Group Inc. grew its position in AbbVie by 3.3% during the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after buying an additional 3,706,941 shares in the last quarter. Janus Henderson Group PLC grew its position in AbbVie by 1,949.7% during the second quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock worth $277,967,000 after buying an additional 3,646,510 shares in the last quarter. Finally, Orbis Allan Gray Ltd grew its position in AbbVie by 35.7% during the second quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after buying an additional 3,340,038 shares in the last quarter. 70.63% of the stock is currently owned by institutional investors.
AbbVie Inc (ABBV) opened at $115.55 on Friday. AbbVie Inc has a one year low of $63.12 and a one year high of $125.86. The company has a quick ratio of 1.18, a current ratio of 1.28 and a debt-to-equity ratio of 6.07. The stock has a market cap of $183,380.00, a P/E ratio of 20.84, a PEG ratio of 1.12 and a beta of 1.52.
AbbVie declared that its board has authorized a stock repurchase program on Thursday, February 15th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be paid a $0.96 dividend. The ex-dividend date is Thursday, April 12th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.32%. This is a boost from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s payout ratio is 51.26%.
In related news, CFO William J. Chase sold 70,928 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $117.18, for a total value of $8,311,343.04. Following the completion of the transaction, the chief financial officer now owns 203,391 shares in the company, valued at approximately $23,833,357.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert A. Michael sold 992 shares of the business’s stock in a transaction that occurred on 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. Insiders sold 298,237 shares of company stock valued at $33,154,663 in the last quarter. 0.23% of the stock is currently owned by corporate insiders.
A number of research analysts have commented on ABBV shares. Societe Generale raised their price target on shares of AbbVie in a research note on Tuesday, November 21st. SunTrust Banks raised their price target on shares of AbbVie to $157.00 and gave the stock an “average” rating in a research note on Monday, January 29th. Jefferies Group raised their price target on shares of AbbVie from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. Piper Jaffray Companies restated a “buy” rating on shares of AbbVie in a research note on Tuesday, January 2nd. Finally, Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. AbbVie currently has an average rating of “Buy” and a consensus price target of $120.96.
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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