American Century Companies Inc. lessened its holdings in shares of AbbVie Inc (NYSE:ABBV) by 10.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,149,289 shares of the company’s stock after selling 239,877 shares during the period. American Century Companies Inc.’s holdings in AbbVie were worth $190,986,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of ABBV. Vanguard Group Inc. grew its stake in AbbVie by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after buying an additional 3,706,941 shares during the last quarter. Janus Henderson Group PLC grew its stake in AbbVie by 1,949.7% during the 2nd quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock worth $277,967,000 after buying an additional 3,646,510 shares during the last quarter. Orbis Allan Gray Ltd grew its stake in AbbVie by 35.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after buying an additional 3,340,038 shares during the last quarter. Capital Research Global Investors grew its stake in AbbVie by 1.2% during the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock worth $12,926,708,000 after buying an additional 2,130,919 shares during the last quarter. Finally, BlackRock Inc. grew its stake in AbbVie by 2.0% during the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock worth $6,821,375,000 after buying an additional 1,864,418 shares during the last quarter. 69.18% of the stock is currently owned by institutional investors and hedge funds.
AbbVie Inc (ABBV) opened at $100.34 on Friday. AbbVie Inc has a 12 month low of $59.27 and a 12 month high of $101.28. The firm has a market capitalization of $159,950.00, a P/E ratio of 24.35, a price-to-earnings-growth ratio of 1.20 and a beta of 1.53. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a $0.71 dividend. This is an increase from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio (DPR) is 62.14%.
A number of research firms recently issued reports on ABBV. Vetr downgraded AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 price target on the stock. in a research note on Monday, January 8th. Zacks Investment Research downgraded AbbVie from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Jefferies Group raised their price target on AbbVie from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. BMO Capital Markets set a $84.00 price target on AbbVie and gave the stock a “hold” rating in a research note on Thursday. Finally, Piper Jaffray Companies restated a “buy” rating on shares of AbbVie in a research note on Tuesday, January 2nd. Seven research 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 stock. The company presently has an average rating of “Buy” and an average price target of $100.94.
In other news, insider Henry O. Gosebruch sold 18,300 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was 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 directly owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Severino sold 25,633 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $94.69, for a total value of $2,427,188.77. Following the completion of the sale, the executive vice president now directly owns 114,922 shares of the company’s stock, valued at $10,881,964.18. The disclosure for this sale can be found here. Insiders sold a total of 494,676 shares of company stock worth $47,237,938 over the last quarter. 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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