IFM Investors Pty Ltd increased its position in AbbVie Inc (NYSE:ABBV) by 14.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 80,109 shares of the company’s stock after buying an additional 10,325 shares during the period. IFM Investors Pty Ltd’s holdings in AbbVie were worth $7,577,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in ABBV. Cornerstone Wealth Management LLC grew its holdings in AbbVie by 8,774.3% during the second quarter. Cornerstone Wealth Management LLC now owns 1,102,183 shares of the company’s stock valued at $11,837,000 after purchasing an additional 1,089,763 shares during the last quarter. SeaCrest Wealth Management LLC grew its holdings in AbbVie by 43.1% during the second quarter. SeaCrest Wealth Management LLC now owns 34,815 shares of the company’s stock valued at $3,226,000 after purchasing an additional 10,483 shares during the last quarter. Riverhead Capital Management LLC grew its holdings in AbbVie by 10.0% during the second quarter. Riverhead Capital Management LLC now owns 117,611 shares of the company’s stock valued at $10,897,000 after purchasing an additional 10,702 shares during the last quarter. Lynch & Associates IN grew its holdings in AbbVie by 1.8% during the second quarter. Lynch & Associates IN now owns 60,094 shares of the company’s stock valued at $5,568,000 after purchasing an additional 1,037 shares during the last quarter. Finally, Highbridge Capital Management LLC grew its holdings in AbbVie by 2,285.6% during the first quarter. Highbridge Capital Management LLC now owns 120,206 shares of the company’s stock valued at $11,377,000 after purchasing an additional 125,706 shares during the last quarter. Hedge funds and other institutional investors own 69.26% of the company’s stock.
ABBV has been the topic of several analyst reports. SunTrust Banks lowered their price target on AbbVie from $157.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, October 22nd. Credit Suisse Group set a $85.00 price target on AbbVie and gave the company a “sell” rating in a report on Saturday, October 20th. Wolfe Research initiated coverage on AbbVie in a report on Tuesday, October 23rd. They set an “underperform” rating on the stock. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a report on Monday, October 1st. Finally, Bank of America lowered their price target on AbbVie from $107.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, October 4th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $103.68.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, November 2nd. The company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.13. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.23 billion. AbbVie had a net margin of 23.50% and a return on equity of 2,006.63%. AbbVie’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the company posted $1.41 earnings per share. On average, sell-side analysts anticipate that AbbVie Inc will post 7.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Tuesday, January 15th will be paid a $1.07 dividend. This is an increase from AbbVie’s previous quarterly dividend of $0.96. The ex-dividend date is Monday, January 14th. This represents a $4.28 annualized dividend and a dividend yield of 5.00%. AbbVie’s dividend payout ratio (DPR) is presently 68.57%.
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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, to treat adults with genotype 1 chronic hepatitis C.
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