Hourglass Capital LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,930 shares of the company’s stock after buying an additional 650 shares during the period. Hourglass Capital LLC’s holdings in AbbVie were worth $6,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its holdings in AbbVie by 2.4% in the 1st quarter. State Street Corp now owns 72,969,530 shares of the company’s stock valued at $4,754,696,000 after purchasing an additional 1,696,042 shares during the last quarter. Comerica Bank increased its holdings in AbbVie by 81.7% in the 2nd quarter. Comerica Bank now owns 1,849,149 shares of the company’s stock valued at $136,671,000 after purchasing an additional 831,625 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in AbbVie in the 1st quarter valued at approximately $46,744,000. Bank of Nova Scotia increased its holdings in AbbVie by 297.9% in the 1st quarter. Bank of Nova Scotia now owns 606,321 shares of the company’s stock valued at $39,507,000 after purchasing an additional 453,955 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in AbbVie by 42.3% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 1,202,483 shares of the company’s stock valued at $78,354,000 after purchasing an additional 357,353 shares during the last quarter. Institutional investors and hedge funds own 68.16% of the company’s stock.
Shares of AbbVie Inc. (ABBV) opened at $95.43 on Monday. The stock has a market cap of $152,347.31, a price-to-earnings ratio of 17.97, a PEG ratio of 1.32 and a beta of 1.51. AbbVie Inc. has a 1 year low of $58.60 and a 1 year high of $98.26. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. During the same period last year, the business earned $1.21 EPS. AbbVie’s revenue for the quarter was up 8.8% compared to the same quarter last year. research analysts anticipate that AbbVie Inc. will post 5.55 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a dividend of $0.71 per share. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio (DPR) is currently 62.29%.
ABBV has been the subject of several research reports. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a report on Tuesday, October 17th. BidaskClub cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 25th. Vetr raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 price target for the company in a research report on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $100.00 price target (up previously from $85.00) on shares of AbbVie in a research report on Friday, September 8th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $107.00 price target (up previously from $94.00) on shares of AbbVie in a research report on Friday, September 15th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $93.68.
In related news, VP Robert A. Michael sold 6,699 shares of AbbVie stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $88.00, for a total transaction of $589,512.00. Following the sale, the vice president now directly owns 10,007 shares in the company, valued at approximately $880,616. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of AbbVie stock in a transaction on Monday, September 11th. The stock was sold at an average price of $85.02, for a total transaction of $705,666.00. Following the sale, the senior vice president now owns 93,099 shares in the company, valued at $7,915,276.98. The disclosure for this sale can be found here. Insiders have sold a total of 33,299 shares of company stock worth $2,952,243 over the last quarter. 0.23% of the stock is owned by company insiders.
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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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