First Business Financial Services Inc. lessened its holdings in AbbVie Inc (NYSE:ABBV) by 2.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,287 shares of the company’s stock after selling 200 shares during the quarter. First Business Financial Services Inc.’s holdings in AbbVie were worth $552,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in ABBV. Vanguard Group Inc. lifted its position in AbbVie by 0.6% during the second quarter. Vanguard Group Inc. now owns 121,523,538 shares of the company’s stock valued at $8,837,192,000 after purchasing an additional 679,398 shares during the period. BlackRock Inc. lifted its holdings in shares of AbbVie by 3.3% in the 2nd quarter. BlackRock Inc. now owns 98,295,272 shares of the company’s stock worth $7,148,030,000 after acquiring an additional 3,100,309 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of AbbVie by 1,715.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 9,593,845 shares of the company’s stock worth $697,664,000 after acquiring an additional 9,065,487 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of AbbVie by 2.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 6,613,086 shares of the company’s stock worth $480,904,000 after acquiring an additional 182,795 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in shares of AbbVie by 1.3% in the 2nd quarter. LSV Asset Management now owns 6,504,926 shares of the company’s stock worth $473,038,000 after acquiring an additional 83,454 shares during the last quarter. Institutional investors and hedge funds own 68.38% of the company’s stock.
ABBV traded up $3.20 during trading on Friday, hitting $85.21. 11,307,381 shares of the stock were exchanged, compared to its average volume of 7,972,123. The firm has a market cap of $121.00 billion, a price-to-earnings ratio of 10.77, a P/E/G ratio of 2.04 and a beta of 0.98. The firm has a 50 day simple moving average of $76.28 and a 200 day simple moving average of $73.49. AbbVie Inc has a 1 year low of $62.66 and a 1 year high of $94.98.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, November 1st. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.04. The business had revenue of $8.48 billion for the quarter, compared to analysts’ expectations of $8.37 billion. AbbVie had a negative return on equity of 155.71% and a net margin of 9.90%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.14 EPS. As a group, equities analysts forecast that AbbVie Inc will post 8.93 EPS for the current year.
The business also recently announced a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a yield of 6.4%. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.
Several equities research analysts have recently issued reports on the stock. ValuEngine upgraded shares of AbbVie from a “strong sell” rating to a “sell” rating in a report on Monday, September 30th. UBS Group upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $85.00 to $79.00 in a report on Thursday, September 12th. TheStreet lowered shares of AbbVie from a “b-” rating to a “c” rating in a report on Monday, August 26th. Piper Jaffray Companies lifted their price objective on shares of AbbVie from $81.00 to $90.00 in a report on Friday, November 1st. Finally, Cowen set a $90.00 price objective on shares of AbbVie and gave the company a “buy” rating in a report on Tuesday, September 24th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. AbbVie presently has an average rating of “Hold” and an average target price of $84.88.
In related news, major shareholder Istar Inc. bought 40,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were acquired at an average price of $28.52 per share, with a total value of $1,140,800.00. Also, SVP Jeffrey Ryan Stewart bought 15,552 shares of the company’s stock in a transaction on Friday, August 16th. The shares were bought at an average cost of $64.44 per share, for a total transaction of $1,002,170.88. Following the transaction, the senior vice president now directly owns 65,304 shares in the company, valued at approximately $4,208,189.76. The disclosure for this purchase can be found here. Insiders have acquired a total of 88,077 shares of company stock worth $4,401,551 in the last ninety days. Insiders own 0.08% of the company’s stock.
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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