Advisor OS LLC bought a new position in AbbVie Inc (NYSE:ABBV) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 6,956 shares of the company’s stock, valued at approximately $683,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of AbbVie by 17.3% in the 2nd quarter. Vanguard Group Inc. now owns 147,386,808 shares of the company’s stock worth $14,470,438,000 after acquiring an additional 21,786,239 shares in the last quarter. BlackRock Inc. grew its position in AbbVie by 21.7% during the second quarter. BlackRock Inc. now owns 123,356,424 shares of the company’s stock valued at $12,111,133,000 after buying an additional 21,974,440 shares during the period. Geode Capital Management LLC grew its position in AbbVie by 5.5% during the first quarter. Geode Capital Management LLC now owns 25,773,505 shares of the company’s stock valued at $1,960,934,000 after buying an additional 1,344,728 shares during the period. Nuveen Asset Management LLC grew its position in AbbVie by 46.4% during the second quarter. Nuveen Asset Management LLC now owns 22,124,489 shares of the company’s stock valued at $2,172,182,000 after buying an additional 7,007,887 shares during the period. Finally, Bank of New York Mellon Corp grew its position in AbbVie by 15.0% during the second quarter. Bank of New York Mellon Corp now owns 21,387,563 shares of the company’s stock valued at $2,099,832,000 after buying an additional 2,797,448 shares during the period. Hedge funds and other institutional investors own 68.23% of the company’s stock.
ABBV has been the subject of several research reports. Wolfe Research upgraded shares of AbbVie from a “peer perform” rating to an “outperform” rating in a research report on Tuesday, June 9th. Citigroup increased their price target on shares of AbbVie from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Evercore ISI initiated coverage on shares of AbbVie in a research report on Wednesday, June 10th. They set a “buy” rating and a $111.00 price target for the company. Bank of America initiated coverage on shares of AbbVie in a research report on Monday, May 18th. They set a “neutral” rating and a $95.00 price target for the company. Finally, Mizuho increased their price target on shares of AbbVie from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the stock. AbbVie has an average rating of “Buy” and a consensus target price of $108.33.
Shares of AbbVie stock traded up $0.42 on Tuesday, reaching $90.91. The stock had a trading volume of 266,463 shares, compared to its average volume of 10,106,435. AbbVie Inc has a 1 year low of $62.55 and a 1 year high of $101.28. The company has a market cap of $159.70 billion, a P/E ratio of 19.43, a price-to-earnings-growth ratio of 1.44 and a beta of 0.75. The company has a current ratio of 0.86, a quick ratio of 0.70 and a debt-to-equity ratio of 5.57. The business’s 50 day moving average is $93.82 and its two-hundred day moving average is $89.39.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 31st. The company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.14. AbbVie had a net margin of 19.20% and a negative return on equity of 628.57%. The business had revenue of $10.43 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same period last year, the firm posted $2.26 earnings per share. AbbVie’s quarterly revenue was up 26.3% on a year-over-year basis. On average, equities analysts anticipate that AbbVie Inc will post 10.46 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be given a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date of this dividend is Wednesday, October 14th. AbbVie’s payout ratio is currently 52.80%.
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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