Woodford Investment Management Ltd trimmed its position in AbbVie Inc (NYSE:ABBV) by 67.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,875,358 shares of the company’s stock after selling 7,979,400 shares during the quarter. AbbVie comprises about 15.6% of Woodford Investment Management Ltd’s investment portfolio, making the stock its 4th biggest position. Woodford Investment Management Ltd’s holdings in AbbVie were worth $256,672,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in AbbVie by 3.3% during the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after acquiring an additional 3,706,941 shares during the last quarter. Janus Henderson Group PLC increased its stake in AbbVie by 1,949.7% during the second quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock worth $277,967,000 after acquiring an additional 3,646,510 shares during the last quarter. Orbis Allan Gray Ltd increased its stake in AbbVie by 35.7% during the second quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after acquiring an additional 3,340,038 shares during the last quarter. Capital Research Global Investors increased its stake in AbbVie by 1.2% during the second quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock worth $12,926,708,000 after acquiring an additional 2,130,919 shares during the last quarter. Finally, BlackRock Inc. increased its stake in AbbVie by 2.0% during the second quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock worth $6,821,375,000 after acquiring an additional 1,864,418 shares during the last quarter. 69.18% of the stock is currently owned by hedge funds and other institutional investors.
AbbVie Inc (NYSE:ABBV) opened at $99.27 on Friday. AbbVie Inc has a 12-month low of $59.27 and a 12-month high of $101.28. The stock has a market capitalization of $158,250.00, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 1.20 and a beta of 1.53. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s payout ratio is 62.14%.
ABBV has been the topic of several analyst reports. Piper Jaffray Companies reissued a “buy” rating and set a $100.00 price objective on shares of AbbVie in a research note on Friday, September 15th. Jefferies Group reissued a “buy” rating and set a $107.00 price objective (up from $94.00) on shares of AbbVie in a research note on Friday, September 15th. UBS Group cut AbbVie from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $79.00 to $92.00 in a research note on Monday, September 25th. Deutsche Bank boosted their price objective on AbbVie to $88.00 and gave the stock a “hold” rating in a research note on Thursday, September 28th. Finally, Morgan Stanley boosted their price objective on AbbVie from $70.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, September 29th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $100.94.
In related news, insider Laura J. Schumacher sold 145,510 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $96.71, for a total value of $14,072,272.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Henry O. Gosebruch sold 18,300 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $90.55, for a total value of $1,657,065.00. Following the completion of the sale, the insider now owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The disclosure for this sale can be found here. Insiders have sold 494,676 shares of company stock valued at $47,237,938 in the last 90 days. Company insiders own 0.23% of the company’s stock.
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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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