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.
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 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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