Atom Investors LP bought a new position in shares of AbbVie Inc (NYSE:ABBV) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,542 shares of the company’s stock, valued at approximately $2,999,000.
Several other hedge funds have also recently added to or reduced their stakes in ABBV. Vanguard Group Inc. boosted its holdings in AbbVie by 17.3% in the second quarter. Vanguard Group Inc. now owns 147,386,808 shares of the company’s stock valued at $14,470,438,000 after purchasing an additional 21,786,239 shares in the last quarter. HBK Sorce Advisory LLC boosted its holdings in AbbVie by 8.2% in the second quarter. HBK Sorce Advisory LLC now owns 21,756 shares of the company’s stock valued at $2,136,000 after purchasing an additional 1,648 shares in the last quarter. RBF Capital LLC acquired a new position in AbbVie in the second quarter valued at approximately $850,000. Ancora Advisors LLC boosted its holdings in AbbVie by 10.0% in the second quarter. Ancora Advisors LLC now owns 180,835 shares of the company’s stock valued at $17,754,000 after purchasing an additional 16,373 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its holdings in AbbVie by 5.9% in the second quarter. Silvercrest Asset Management Group LLC now owns 208,559 shares of the company’s stock valued at $20,477,000 after purchasing an additional 11,553 shares in the last quarter. Hedge funds and other institutional investors own 68.23% of the company’s stock.
In other news, Vice Chairman Carlos Alban sold 53,325 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $100.00, for a total value of $5,332,500.00. Following the completion of the transaction, the insider now owns 137,899 shares in the company, valued at $13,789,900. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.09% of the company’s stock.
A number of brokerages recently issued reports on ABBV. Morgan Stanley upped their price target on AbbVie from $95.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, August 20th. Citigroup upped their price target on AbbVie from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday. Argus raised AbbVie from a “hold” rating to a “buy” rating and increased their price objective for the company from $91.40 to $115.00 in a report on Tuesday, June 2nd. Evercore ISI started coverage on AbbVie in a report on Wednesday, June 10th. They issued a “buy” rating and a $111.00 price objective for the company. Finally, SVB Leerink increased their price objective on AbbVie from $107.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, May 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $108.33.
NYSE:ABBV remained flat at $$91.87 during trading hours on Friday. The company’s stock had a trading volume of 9,430,095 shares, compared to its average volume of 7,066,144. The company has a 50-day moving average price of $95.46 and a 200-day moving average price of $89.56. The firm has a market capitalization of $162.14 billion, a P/E ratio of 19.55, a PEG ratio of 1.47 and a beta of 0.75. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.86 and a quick ratio of 0.70. AbbVie Inc has a 1 year low of $62.55 and a 1 year high of $101.28.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 31st. The company reported $2.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.14. The firm had revenue of $10.43 billion during the quarter, compared to analysts’ expectations of $10.14 billion. AbbVie had a negative return on equity of 628.57% and a net margin of 19.20%. AbbVie’s revenue was up 26.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.26 earnings per share. On average, research analysts anticipate that AbbVie Inc will post 10.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th were given a $1.18 dividend. This represents a $4.72 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date was Tuesday, July 14th. AbbVie’s dividend 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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