AbbVie Inc (ABBV) Stake Lessened by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC trimmed its holdings in AbbVie Inc (NYSE:ABBV) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 455,406 shares of the company’s stock after selling 13,800 shares during the quarter. Lord Abbett & CO. LLC’s holdings in AbbVie were worth $41,984,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Sawgrass Asset Management LLC lifted its stake in shares of AbbVie by 7.4% in the 4th quarter. Sawgrass Asset Management LLC now owns 409,054 shares of the company’s stock valued at $37,711,000 after purchasing an additional 28,134 shares during the period. Tradition Capital Management LLC lifted its stake in shares of AbbVie by 3.7% in the 4th quarter. Tradition Capital Management LLC now owns 91,197 shares of the company’s stock valued at $8,407,000 after purchasing an additional 3,247 shares during the period. Coastline Trust Co lifted its stake in shares of AbbVie by 1.0% in the 4th quarter. Coastline Trust Co now owns 21,251 shares of the company’s stock valued at $1,959,000 after purchasing an additional 201 shares during the period. Guinness Asset Management Ltd lifted its stake in shares of AbbVie by 33.2% in the 4th quarter. Guinness Asset Management Ltd now owns 220,210 shares of the company’s stock valued at $20,301,000 after purchasing an additional 54,840 shares during the period. Finally, Veritable L.P. lifted its stake in shares of AbbVie by 3.5% in the 3rd quarter. Veritable L.P. now owns 114,835 shares of the company’s stock valued at $10,861,000 after purchasing an additional 3,934 shares during the period. 70.53% of the stock is currently owned by institutional investors.

Shares of AbbVie stock opened at $78.78 on Thursday. AbbVie Inc has a one year low of $75.62 and a one year high of $107.25. The stock has a market capitalization of $113.64 billion, a P/E ratio of 9.96, a PEG ratio of 1.57 and a beta of 1.14.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, April 25th. The company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.08. AbbVie had a negative return on equity of 221.09% and a net margin of 16.42%. The business had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.81 billion. During the same period in the previous year, the company posted $1.87 EPS. The firm’s revenue was down 1.3% compared to the same quarter last year. On average, equities analysts anticipate that AbbVie Inc will post 8.83 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, April 15th were given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date of this dividend was Friday, April 12th. AbbVie’s payout ratio is 54.11%.

A number of brokerages have recently issued reports on ABBV. BMO Capital Markets raised AbbVie from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $71.00 to $79.00 in a research note on Sunday, April 28th. Credit Suisse Group set a $78.00 price objective on AbbVie and gave the company a “sell” rating in a research note on Friday, April 26th. Argus downgraded AbbVie from a “buy” rating to a “hold” rating in a research note on Monday, March 25th. UBS Group reaffirmed a “neutral” rating and issued a $91.00 target price (down from $97.00) on shares of AbbVie in a research report on Wednesday, January 23rd. Finally, Barclays reaffirmed a “hold” rating and issued a $86.00 target price on shares of AbbVie in a research report on Thursday, February 14th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. AbbVie has an average rating of “Hold” and a consensus price target of $94.95.

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 15,797 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $79.03, for a total transaction of $1,248,436.91. Following the completion of the sale, the executive vice president now directly owns 93,312 shares of the company’s stock, valued at approximately $7,374,447.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Laura J. Schumacher sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $80.00, for a total value of $2,000,000.00. Following the sale, the insider now directly owns 139,838 shares of the company’s stock, valued at $11,187,040. The disclosure for this sale can be found here. Insiders sold a total of 41,272 shares of company stock valued at $3,286,290 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

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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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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