AbbVie Inc. (ABBV) Stake Lowered by Delaney Dennis R

Delaney Dennis R decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,110 shares of the company’s stock after selling 220 shares during the quarter. AbbVie comprises approximately 2.7% of Delaney Dennis R’s investment portfolio, making the stock its 15th largest holding. Delaney Dennis R’s holdings in AbbVie were worth $1,310,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ABBV. State Street Corp grew its position in shares of AbbVie by 2.4% during the 1st quarter. State Street Corp now owns 72,969,530 shares of the company’s stock worth $4,754,696,000 after buying an additional 1,696,042 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of AbbVie during the 1st quarter worth approximately $46,744,000. AQR Capital Management LLC grew its position in shares of AbbVie by 58.6% during the 1st quarter. AQR Capital Management LLC now owns 940,824 shares of the company’s stock worth $61,304,000 after buying an additional 347,710 shares during the period. Legal & General Group Plc grew its position in shares of AbbVie by 4.1% during the 1st quarter. Legal & General Group Plc now owns 7,918,192 shares of the company’s stock worth $515,956,000 after buying an additional 312,055 shares during the period. Finally, Candriam Luxembourg S.C.A. grew its position in shares of AbbVie by 96.7% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 450,934 shares of the company’s stock worth $29,384,000 after buying an additional 221,678 shares during the period. 68.29% of the stock is owned by institutional investors.

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In other news, Chairman Richard A. Gonzalez sold 87,899 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $71.02, for a total transaction of $6,242,586.98. Following the transaction, the chairman now directly owns 342,353 shares of the company’s stock, valued at $24,313,910.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Laura J. Schumacher sold 79,800 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $70.00, for a total value of $5,586,000.00. Following the transaction, the insider now directly owns 187,625 shares in the company, valued at $13,133,750. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 490,491 shares of company stock worth $34,684,639. Corporate insiders own 0.23% of the company’s stock.

Several analysts have recently commented on ABBV shares. Zacks Investment Research downgraded shares of AbbVie from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Vetr upgraded AbbVie from a “hold” rating to a “buy” rating and set a $76.28 target price on the stock in a report on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $100.00 target price (up from $85.00) on shares of AbbVie in a report on Friday. Jefferies Group LLC reiterated a “buy” rating on shares of AbbVie in a report on Friday, May 26th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $66.00 target price (up from $65.00) on shares of AbbVie in a report on Monday, July 17th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $79.25.

Shares of AbbVie Inc. (NYSE:ABBV) traded up 0.56% during trading on Tuesday, reaching $87.49. The company’s stock had a trading volume of 4,642,142 shares. AbbVie Inc. has a one year low of $55.06 and a one year high of $87.97. The firm has a market cap of $139.47 billion, a P/E ratio of 21.52 and a beta of 1.48. The stock’s 50 day moving average is $72.68 and its 200 day moving average is $68.66.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.02. The firm had revenue of $6.94 billion for the quarter, compared to the consensus estimate of $6.93 billion. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 earnings per share. On average, equities analysts forecast that AbbVie Inc. will post $5.52 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s payout ratio is currently 62.90%.

About AbbVie

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.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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