Huber Capital Management LLC Has $795,000 Position in AbbVie Inc. (NYSE:ABBV)

Huber Capital Management LLC decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 6.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,059 shares of the company’s stock after selling 500 shares during the period. Huber Capital Management LLC’s holdings in AbbVie were worth $795,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. increased its stake in AbbVie by 79.5% in the second quarter. Franklin Resources Inc. now owns 16,643,367 shares of the company’s stock valued at $1,874,708,000 after acquiring an additional 7,370,931 shares during the last quarter. Morgan Stanley lifted its holdings in shares of AbbVie by 14.7% during the first quarter. Morgan Stanley now owns 18,730,262 shares of the company’s stock valued at $2,026,989,000 after purchasing an additional 2,393,757 shares during the last quarter. Winslow Capital Management LLC purchased a new position in shares of AbbVie during the second quarter valued at approximately $267,606,000. Canada Pension Plan Investment Board increased its position in shares of AbbVie by 291.1% during the first quarter. Canada Pension Plan Investment Board now owns 3,073,033 shares of the company’s stock valued at $332,564,000 after acquiring an additional 2,287,225 shares in the last quarter. Finally, Capital International Investors increased its position in shares of AbbVie by 23.2% during the first quarter. Capital International Investors now owns 9,700,024 shares of the company’s stock valued at $1,049,737,000 after acquiring an additional 1,828,403 shares in the last quarter. 65.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:ABBV traded up $0.18 during midday trading on Thursday, reaching $108.71. The company’s stock had a trading volume of 220,608 shares, compared to its average volume of 7,008,608. The firm has a market capitalization of $192.11 billion, a PE ratio of 29.10, a P/E/G ratio of 2.01 and a beta of 0.82. The company has a quick ratio of 0.79, a current ratio of 0.91 and a debt-to-equity ratio of 5.89. The stock has a fifty day moving average of $112.16 and a 200 day moving average of $113.04. AbbVie Inc. has a twelve month low of $79.11 and a twelve month high of $121.53.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, July 29th. The company reported $3.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.09 by $0.02. The company had revenue of $13.96 billion for the quarter, compared to analyst estimates of $13.64 billion. AbbVie had a net margin of 12.40% and a return on equity of 154.24%. The firm’s revenue was up 33.9% on a year-over-year basis. During the same quarter last year, the business earned $2.34 earnings per share. Sell-side analysts anticipate that AbbVie Inc. will post 12.64 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 15th. Stockholders of record on Friday, October 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend is Thursday, October 14th. AbbVie’s dividend payout ratio is currently 49.24%.

In other news, SVP Carrie C. Strom sold 5,057 shares of the firm’s stock in a transaction dated Monday, August 23rd. The shares were sold at an average price of $120.00, for a total value of $606,840.00. Following the transaction, the senior vice president now directly owns 11,595 shares of the company’s stock, valued at $1,391,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.09% of the company’s stock.

A number of brokerages have recently issued reports on ABBV. Argus boosted their price objective on shares of AbbVie from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 5th. Mizuho boosted their price target on shares of AbbVie from $128.00 to $131.00 and gave the stock a “buy” rating in a research note on Monday, August 2nd. SVB Leerink decreased their price target on shares of AbbVie from $148.00 to $142.00 and set an “outperform” rating on the stock in a research note on Thursday, September 2nd. Morgan Stanley reiterated a “buy” rating and issued a $116.00 price target on shares of AbbVie in a research note on Friday, August 20th. Finally, Truist initiated coverage on shares of AbbVie in a research note on Tuesday, July 27th. They issued a “buy” rating and a $124.08 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $125.29.

AbbVie Company Profile

AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses 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; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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