Inspirion Wealth Advisors LLC increased its stake in shares of AbbVie Inc (NYSE:ABBV) by 0.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 199,915 shares of the company’s stock after acquiring an additional 1,471 shares during the period. AbbVie comprises approximately 8.7% of Inspirion Wealth Advisors LLC’s investment portfolio, making the stock its 4th largest holding. Inspirion Wealth Advisors LLC’s holdings in AbbVie were worth $18,522,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in AbbVie by 2.8% in the fourth quarter. BlackRock Inc. now owns 101,322,201 shares of the company’s stock valued at $9,798,871,000 after buying an additional 2,714,857 shares during the period. Geode Capital Management LLC increased its stake in shares of AbbVie by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 16,042,851 shares of the company’s stock worth $1,548,096,000 after purchasing an additional 697,191 shares during the period. TIAA CREF Investment Management LLC increased its stake in shares of AbbVie by 3.5% during the fourth quarter. TIAA CREF Investment Management LLC now owns 10,321,140 shares of the company’s stock worth $998,157,000 after purchasing an additional 347,642 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of AbbVie by 3.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 6,088,016 shares of the company’s stock worth $576,231,000 after purchasing an additional 220,125 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of AbbVie by 6.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,954,509 shares of the company’s stock worth $468,944,000 after purchasing an additional 281,453 shares during the period. Institutional investors and hedge funds own 68.53% of the company’s stock.
A number of equities analysts have recently weighed in on ABBV shares. Argus lowered their target price on AbbVie from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, June 11th. Goldman Sachs Group lowered AbbVie from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, May 24th. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a research note on Wednesday, June 27th. Jefferies Financial Group set a $100.00 target price on AbbVie and gave the stock a “buy” rating in a research note on Sunday, July 15th. Finally, Cowen set a $110.00 target price on AbbVie and gave the stock a “buy” rating in a research note on Friday, July 27th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. AbbVie presently has an average rating of “Hold” and an average target price of $105.88.
In other AbbVie news, Director Edward J. Rapp bought 1,013 shares of AbbVie stock in a transaction on Wednesday, June 20th. The shares were purchased at an average price of $98.63 per share, with a total value of $99,912.19. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Glenn F. Tilton bought 5,400 shares of AbbVie stock in a transaction on Wednesday, June 27th. The stock was acquired at an average cost of $91.90 per share, for a total transaction of $496,260.00. Following the acquisition, the director now owns 39,735 shares in the company, valued at approximately $3,651,646.50. The disclosure for this purchase can be found here. Corporate insiders own 0.07% of the company’s stock.
Shares of NYSE:ABBV opened at $98.81 on Monday. The company has a market cap of $145.07 billion, a P/E ratio of 17.64, a P/E/G ratio of 0.87 and a beta of 1.56. AbbVie Inc has a 1 year low of $69.47 and a 1 year high of $125.86. The company has a debt-to-equity ratio of -9.06, a quick ratio of 0.71 and a current ratio of 0.80.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 27th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.02. The business had revenue of $8.28 billion for the quarter, compared to the consensus estimate of $8.22 billion. AbbVie had a return on equity of 362.05% and a net margin of 20.84%. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.42 earnings per share. analysts anticipate that AbbVie Inc will post 7.86 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 15th. Investors of record on Friday, July 13th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date was Thursday, July 12th. AbbVie’s dividend payout ratio is currently 68.57%.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
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