Folger Hill Asset Management LP purchased a new stake in AbbVie Inc (NYSE:ABBV) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 4,372 shares of the company’s stock, valued at approximately $274,000.
Several other large investors have also made changes to their positions in the company. State Street Corp increased its stake in shares of AbbVie by 4.0% in the fourth quarter. State Street Corp now owns 71,273,488 shares of the company’s stock valued at $4,463,150,000 after buying an additional 2,763,770 shares during the period. BlackRock Fund Advisors increased its stake in shares of AbbVie by 2.5% in the third quarter. BlackRock Fund Advisors now owns 20,582,203 shares of the company’s stock valued at $1,298,120,000 after buying an additional 509,635 shares during the period. Federated Investors Inc. PA increased its stake in shares of AbbVie by 0.6% in the fourth quarter. Federated Investors Inc. PA now owns 15,058,050 shares of the company’s stock valued at $942,935,000 after buying an additional 94,872 shares during the period. Prudential PLC increased its stake in shares of AbbVie by 12.6% in the fourth quarter. Prudential PLC now owns 7,011,026 shares of the company’s stock valued at $439,030,000 after buying an additional 786,487 shares during the period. Finally, LSV Asset Management boosted its position in AbbVie by 14.7% in the third quarter. LSV Asset Management now owns 5,657,320 shares of the company’s stock valued at $356,807,000 after buying an additional 726,397 shares in the last quarter. Institutional investors own 66.67% of the company’s stock.
AbbVie Inc (NYSE:ABBV) opened at 66.10 on Tuesday. The company has a market cap of $105.36 billion, a price-to-earnings ratio of 18.21 and a beta of 1.57. The firm’s 50-day moving average price is $63.30 and its 200-day moving average price is $62.05. AbbVie Inc has a 1-year low of $55.06 and a 1-year high of $68.12.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 27th. The company reported $1.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.20. AbbVie had a return on equity of 141.55% and a net margin of 23.22%. The firm had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter in the previous year, the business earned $1.13 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. Equities research analysts forecast that AbbVie Inc will post $5.50 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Thursday, April 13th will be paid a $0.64 dividend. The ex-dividend date of this dividend is Tuesday, April 11th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.87%. AbbVie’s payout ratio is presently 70.52%.
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ABBV has been the subject of several recent research reports. Vetr cut AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.75 price objective for the company. in a research report on Monday, November 28th. Citigroup Inc cut AbbVie from a “buy” rating to a “neutral” rating and set a $60.00 price objective for the company. in a research report on Monday, November 28th. William Blair reaffirmed an “outperform” rating and set a $76.00 price objective on shares of AbbVie in a research report on Thursday, December 8th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of AbbVie in a research report on Thursday, January 5th. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. AbbVie has an average rating of “Buy” and a consensus price target of $70.69.
In other news, insider Laura J. Schumacher sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $65.26, for a total value of $2,610,400.00. Following the transaction, the insider now owns 147,415 shares in the company, valued at approximately $9,620,302.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Richard A. Gonzalez sold 72,016 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $64.25, for a total value of $4,627,028.00. Following the completion of the transaction, the chairman now owns 369,113 shares in the company, valued at approximately $23,715,510.25. The disclosure for this sale can be found here. Insiders sold a total of 139,599 shares of company stock worth $9,038,322 in the last 90 days. Company insiders own 0.11% of the company’s stock.
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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