Moors & Cabot Inc. grew its holdings in shares of AbbVie Inc (NYSE:ABBV) by 63.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,033 shares of the company’s stock after purchasing an additional 18,697 shares during the period. Moors & Cabot Inc.’s holdings in AbbVie were worth $4,273,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the business. Capital Research Global Investors boosted its position in shares of 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 acquiring an additional 2,130,919 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of 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 acquiring an additional 3,706,941 shares in the last quarter. BlackRock Inc. boosted its position in AbbVie by 2.0% in the second quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock valued at $6,821,375,000 after buying an additional 1,864,418 shares in the last quarter. Orbis Allan Gray Ltd boosted its position in AbbVie by 35.7% in the second quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after buying an additional 3,340,038 shares in the last quarter. Finally, Woodford Investment Management Ltd boosted its position in AbbVie by 8.6% in the second quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock valued at $859,589,000 after buying an additional 937,500 shares in the last quarter. Hedge funds and other institutional investors own 69.49% of the company’s stock.
In related news, insider Laura J. Schumacher sold 145,510 shares of AbbVie stock in a transaction on Friday, December 15th. The shares were sold at an average price of $96.71, for a total transaction of $14,072,272.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert A. Michael sold 992 shares of AbbVie stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $120.31, for a total transaction of $119,347.52. The disclosure for this sale can be found here. Insiders have sold 233,542 shares of company stock valued at $22,760,708 in the last ninety days. Insiders own 0.23% of the company’s stock.
AbbVie Inc (ABBV) opened at $117.56 on Friday. The stock has a market cap of $187,237.91, a price-to-earnings ratio of 35.73, a PEG ratio of 1.12 and a beta of 1.61. AbbVie Inc has a 52 week low of $61.45 and a 52 week high of $125.86. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.32 and a current ratio of 1.28.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.04. The firm had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.20 earnings per share. sell-side analysts forecast that AbbVie Inc will post 7.47 EPS for the current fiscal year.
AbbVie declared that its Board of Directors has authorized a share repurchase program on Thursday, February 15th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.84 annualized dividend and a dividend yield of 3.27%. This is an increase from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s dividend payout ratio (DPR) is presently 86.32%.
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AbbVie Company Profile
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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