Marshall Wace North America L.P. Grows Stock Position in AbbVie Inc (NYSE:ABBV)

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Marshall Wace North America L.P. boosted its stake in AbbVie Inc (NYSE:ABBV) by 183.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 732,006 shares of the company’s stock after acquiring an additional 473,892 shares during the quarter. Marshall Wace North America L.P.’s holdings in AbbVie were worth $53,231,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Weaver Consulting Group acquired a new position in shares of AbbVie in the 1st quarter valued at approximately $25,000. Arbor Wealth Management LLC acquired a new position in shares of AbbVie in the 2nd quarter valued at approximately $28,000. Lowe Wealth Advisors LLC raised its position in shares of AbbVie by 206.7% in the 2nd quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock valued at $33,000 after purchasing an additional 310 shares in the last quarter. Horrell Capital Management Inc. acquired a new position in shares of AbbVie in the 2nd quarter valued at approximately $33,000. Finally, TD Capital Management LLC acquired a new position in shares of AbbVie in the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 68.15% of the company’s stock.

In related news, Director Roxanne S. Austin acquired 11,500 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was purchased at an average cost of $67.50 per share, for a total transaction of $776,250.00. Following the purchase, the director now directly owns 52,114 shares in the company, valued at $3,517,695. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Laura J. Schumacher acquired 25,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were bought at an average price of $70.42 per share, with a total value of $1,760,500.00. Following the completion of the purchase, the insider now owns 164,838 shares in the company, valued at $11,607,891.96. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 184,977 shares of company stock valued at $12,387,121. 0.08% of the stock is owned by company insiders.

Several research firms recently issued reports on ABBV. Piper Jaffray Companies upped their price target on AbbVie from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. ValuEngine lowered AbbVie from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 26th. Leerink Swann raised AbbVie to a “buy” rating in a research report on Tuesday, July 2nd. TheStreet lowered AbbVie from a “b-” rating to a “c” rating in a research report on Monday, August 26th. Finally, Goldman Sachs Group began coverage on AbbVie in a research report on Tuesday, May 28th. They set a “neutral” rating and a $84.00 price target on the stock. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $91.20.

ABBV traded up $0.37 during trading on Thursday, reaching $71.64. 3,785,496 shares of the company were exchanged, compared to its average volume of 7,598,226. The stock has a market cap of $104.35 billion, a P/E ratio of 9.06, a PEG ratio of 1.68 and a beta of 0.95. The firm has a 50 day moving average of $66.55 and a 200 day moving average of $74.54. AbbVie Inc has a 52 week low of $62.66 and a 52 week high of $96.60.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 26th. The company reported $2.26 EPS for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.05. The firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.09 billion. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The firm’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the business earned $2.00 EPS. On average, analysts forecast that AbbVie Inc will post 8.9 earnings per share for the current year.

The business also recently disclosed a — dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a yield of 6.4%. AbbVie’s payout ratio is currently 54.11%.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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