Sumitomo Mitsui DS Asset Management Company Ltd Cuts Stock Holdings in AbbVie Inc (NYSE:ABBV)

Sumitomo Mitsui DS Asset Management Company Ltd decreased its position in shares of AbbVie Inc (NYSE:ABBV) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 148,463 shares of the company’s stock after selling 6,554 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in AbbVie were worth $13,144,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Sawyer & Company Inc boosted its stake in shares of AbbVie by 0.5% during the 4th quarter. Sawyer & Company Inc now owns 21,075 shares of the company’s stock worth $1,866,000 after acquiring an additional 115 shares during the last quarter. Lantz Financial LLC boosted its stake in shares of AbbVie by 3.7% during the 4th quarter. Lantz Financial LLC now owns 3,298 shares of the company’s stock worth $292,000 after acquiring an additional 118 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in shares of AbbVie by 1.2% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 10,650 shares of the company’s stock worth $943,000 after acquiring an additional 125 shares during the last quarter. Paulson Wealth Management Inc. boosted its stake in shares of AbbVie by 2.5% during the 4th quarter. Paulson Wealth Management Inc. now owns 5,038 shares of the company’s stock worth $443,000 after acquiring an additional 125 shares during the last quarter. Finally, Renaissance Investment Group LLC boosted its stake in shares of AbbVie by 2.7% during the 4th quarter. Renaissance Investment Group LLC now owns 4,722 shares of the company’s stock worth $418,000 after acquiring an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 70.46% of the company’s stock.

Shares of ABBV stock traded down $1.80 on Friday, hitting $83.47. 9,405,650 shares of the stock traded hands, compared to its average volume of 6,635,899. The firm has a market cap of $128.97 billion, a price-to-earnings ratio of 38.47, a PEG ratio of 2.06 and a beta of 0.97. AbbVie Inc has a 52 week low of $62.66 and a 52 week high of $91.99. The firm has a 50 day simple moving average of $88.53 and a two-hundred day simple moving average of $77.44.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, November 1st. The company reported $2.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.29 by $0.04. The firm had revenue of $8.48 billion for the quarter, compared to the consensus estimate of $8.37 billion. AbbVie had a net margin of 9.90% and a negative return on equity of 155.96%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $2.14 EPS. Analysts forecast that AbbVie Inc will post 8.95 earnings per share for the current fiscal year.

The company also recently disclosed a — dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.18 per share. This represents a dividend yield of 5.93%. This is an increase from AbbVie’s previous — dividend of $1.07. The ex-dividend date of this dividend is Tuesday, January 14th. AbbVie’s dividend payout ratio (DPR) is presently 59.67%.

ABBV has been the topic of several analyst reports. ValuEngine upgraded shares of AbbVie from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Citigroup lifted their price target on shares of AbbVie from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Bank of America downgraded shares of AbbVie from a “buy” rating to a “neutral” rating in a research report on Friday, January 3rd. Cowen raised their price objective on shares of AbbVie from $90.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, December 26th. Finally, Royal Bank of Canada restated a “hold” rating and set a $86.00 price objective on shares of AbbVie in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $86.33.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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