Boston Partners boosted its position in shares of AbbVie Inc (NYSE:ABBV) by 14,770.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 482,707 shares of the company’s stock after purchasing an additional 479,461 shares during the period. Boston Partners’ holdings in AbbVie were worth $44,501,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Synovus Financial Corp grew its holdings in shares of AbbVie by 0.6% during the 4th quarter. Synovus Financial Corp now owns 172,824 shares of the company’s stock valued at $15,930,000 after acquiring an additional 1,029 shares in the last quarter. Csenge Advisory Group grew its holdings in shares of AbbVie by 11.3% during the 4th quarter. Csenge Advisory Group now owns 8,774 shares of the company’s stock valued at $808,000 after acquiring an additional 894 shares in the last quarter. Loudon Investment Management LLC grew its holdings in shares of AbbVie by 36.7% during the 4th quarter. Loudon Investment Management LLC now owns 36,404 shares of the company’s stock valued at $3,356,000 after acquiring an additional 9,771 shares in the last quarter. Shulman DeMeo Asset Management LLC purchased a new position in shares of AbbVie during the 4th quarter valued at $1,316,000. Finally, Econ Financial Services Corp purchased a new position in shares of AbbVie during the 4th quarter valued at $315,000. Hedge funds and other institutional investors own 70.66% of the company’s stock.
In other AbbVie news, VP Brian L. Durkin sold 475 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $79.69, for a total transaction of $37,852.75. Following the completion of the transaction, the vice president now owns 9,121 shares of the company’s stock, valued at approximately $726,852.49. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Laura J. Schumacher sold 25,000 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $80.00, for a total transaction of $2,000,000.00. Following the transaction, the insider now directly owns 139,838 shares of the company’s stock, valued at approximately $11,187,040. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,272 shares of company stock valued at $3,286,290. Company insiders own 0.08% of the company’s stock.
ABBV stock opened at $80.21 on Wednesday. AbbVie Inc has a 1 year low of $75.77 and a 1 year high of $107.25. The firm has a market capitalization of $119.53 billion, a P/E ratio of 10.14, a price-to-earnings-growth ratio of 1.66 and a beta of 1.16.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 25th. The company reported $1.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.92 by ($0.02). The firm had revenue of $8.31 billion for the quarter, compared to analyst estimates of $8.37 billion. AbbVie had a negative return on equity of 439.07% and a net margin of 17.36%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.48 EPS. Research analysts forecast that AbbVie Inc will post 8.69 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is 54.11%.
ABBV has been the topic of several research analyst reports. Bank of America cut shares of AbbVie from a “buy” rating to a “neutral” rating in a report on Thursday, January 3rd. Standpoint Research began coverage on shares of AbbVie in a research note on Wednesday, December 26th. They issued a “buy” rating for the company. Credit Suisse Group set a $79.00 price objective on shares of AbbVie and gave the company a “hold” rating in a research note on Friday, January 25th. Argus lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Monday, March 25th. Finally, ValuEngine lowered shares of AbbVie from a “hold” rating to a “sell” rating in a research note on Friday, January 25th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $94.48.
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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.
Further Reading: Yield Curve
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