Harel Insurance Investments & Financial Services Ltd. Has $387,000 Stake in AbbVie Inc. (ABBV)

Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 300.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,000 shares of the company’s stock after buying an additional 3,000 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in AbbVie were worth $387,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABBV. Dock Street Asset Management Inc. increased its position in shares of AbbVie by 10.6% during the 4th quarter. Dock Street Asset Management Inc. now owns 80,830 shares of the company’s stock worth $7,817,000 after purchasing an additional 7,751 shares during the last quarter. Beaton Management Co. Inc. acquired a new stake in shares of AbbVie during the 2nd quarter worth about $528,000. Middleton & Co Inc MA increased its position in shares of AbbVie by 7.2% during the 4th quarter. Middleton & Co Inc MA now owns 150,457 shares of the company’s stock worth $14,551,000 after purchasing an additional 10,086 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of AbbVie during the 3rd quarter worth about $544,418,000. Finally, Capital International Investors increased its position in shares of AbbVie by 137.7% during the 3rd quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock worth $697,989,000 after purchasing an additional 4,550,954 shares during the last quarter. Institutional investors and hedge funds own 70.54% of the company’s stock.

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Several research firms have weighed in on ABBV. ValuEngine downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Jefferies Group set a $125.00 target price on AbbVie and gave the company a “buy” rating in a research report on Friday, March 23rd. BMO Capital Markets set a $95.00 target price on AbbVie and gave the company a “sell” rating in a research report on Thursday, March 22nd. Evercore ISI reaffirmed a “buy” rating and issued a $144.00 target price on shares of AbbVie in a research report on Monday, January 29th. Finally, Bank of America set a $120.00 target price on AbbVie and gave the company a “hold” rating in a research report on Monday, March 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $116.68.

In other news, VP Robert A. Michael sold 4,294 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $119.43, for a total transaction of $512,832.42. Following the completion of the transaction, the vice president now directly owns 11,170 shares of the company’s stock, valued at $1,334,033.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO William J. Chase sold 70,928 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $117.18, for a total value of $8,311,343.04. Following the sale, the chief financial officer now owns 203,391 shares of the company’s stock, valued at approximately $23,833,357.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 211,197 shares of company stock valued at $24,585,575. Corporate insiders own 0.07% of the company’s stock.

Shares of AbbVie stock opened at $94.65 on Friday. AbbVie Inc. has a one year low of $63.12 and a one year high of $125.86. The stock has a market cap of $150,301.66, a PE ratio of 16.90, a P/E/G ratio of 0.88 and a beta of 1.52. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.28 and a quick ratio of 1.18.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 26th. The company reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.04. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The business had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same period in the previous year, the company posted $1.20 earnings per share. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. sell-side analysts predict that AbbVie Inc. will post 7.51 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be given a dividend of $0.96 per share. The ex-dividend date is Thursday, April 12th. This is an increase from AbbVie’s previous quarterly dividend of $0.71. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.06%. AbbVie’s payout ratio is currently 50.71%.

AbbVie announced that its board has authorized a stock repurchase program on Thursday, February 15th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of 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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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