Stanley Laman Group Ltd. grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 34.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,087 shares of the company’s stock after buying an additional 5,189 shares during the quarter. Stanley Laman Group Ltd.’s holdings in AbbVie were worth $2,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in ABBV. Boston Partners lifted its holdings in shares of AbbVie by 1,962.8% during the 4th quarter. Boston Partners now owns 2,881,764 shares of the company’s stock valued at $308,781,000 after buying an additional 2,742,063 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of AbbVie by 2.0% during the 4th quarter. BlackRock Inc. now owns 124,423,484 shares of the company’s stock valued at $13,331,975,000 after buying an additional 2,406,847 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of AbbVie by 58.0% during the 4th quarter. Principal Financial Group Inc. now owns 3,991,459 shares of the company’s stock valued at $427,684,000 after buying an additional 1,465,208 shares during the last quarter. Morgan Stanley lifted its holdings in shares of AbbVie by 10.4% during the 3rd quarter. Morgan Stanley now owns 13,731,455 shares of the company’s stock valued at $1,202,737,000 after buying an additional 1,296,673 shares during the last quarter. Finally, AJO LP lifted its holdings in shares of AbbVie by 2,163.7% during the 3rd quarter. AJO LP now owns 1,231,416 shares of the company’s stock valued at $107,858,000 after buying an additional 1,177,017 shares during the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.
In other news, EVP Timothy J. Richmond sold 51,990 shares of the stock in a transaction on Friday, November 27th. The stock was sold at an average price of $105.00, for a total transaction of $5,458,950.00. Following the sale, the executive vice president now owns 51,990 shares in the company, valued at $5,458,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 25,290 shares of the stock in a transaction on Tuesday, December 29th. The stock was sold at an average price of $105.00, for a total value of $2,655,450.00. Following the sale, the executive vice president now owns 76,259 shares in the company, valued at approximately $8,007,195. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Tuesday, February 2nd. The company reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.07. The business had revenue of $13.86 billion for the quarter, compared to analysts’ expectations of $13.70 billion. AbbVie had a return on equity of 439.24% and a net margin of 18.16%. AbbVie’s quarterly revenue was up 59.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.21 earnings per share. As a group, equities research analysts forecast that AbbVie Inc. will post 10.48 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Stockholders of record on Thursday, April 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.89%. The ex-dividend date is Wednesday, April 14th. AbbVie’s payout ratio is presently 58.17%.
Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a report on Tuesday, February 9th. SVB Leerink boosted their target price on AbbVie from $128.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, February 4th. Mizuho upped their price target on AbbVie from $117.00 to $126.00 and gave the stock a “buy” rating in a report on Thursday, February 4th. They noted that the move was a valuation call. BMO Capital Markets began coverage on AbbVie in a report on Wednesday, November 18th. They set an “outperform” rating and a $123.00 price target for the company. Finally, Sanford C. Bernstein began coverage on AbbVie in a report on Tuesday, November 10th. They set an “outperform” rating and a $120.00 price target for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $114.39.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal BehÃ§et's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenstrÃ¶m'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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