Livingston Group Asset Management CO operating as Southport Capital Management raised its holdings in AbbVie Inc (NYSE:ABBV) by 3.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,852 shares of the company’s stock after purchasing an additional 395 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in AbbVie were worth $1,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also made changes to their positions in the business. Nuveen Asset Management LLC grew 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 purchasing an additional 9,065,487 shares during the last quarter. BlackRock Inc. boosted its position in AbbVie by 3.3% in the second quarter. BlackRock Inc. now owns 98,295,272 shares of the company’s stock valued at $7,148,030,000 after buying an additional 3,100,309 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in AbbVie by 81.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 5,176,070 shares of the company’s stock valued at $376,404,000 after buying an additional 2,326,510 shares in the last quarter. Man Group plc grew its stake in AbbVie by 168.9% during the second quarter. Man Group plc now owns 2,605,268 shares of the company’s stock worth $189,456,000 after buying an additional 1,636,248 shares during the last quarter. Finally, State Street Corp grew its stake in AbbVie by 2.3% during the third quarter. State Street Corp now owns 68,783,527 shares of the company’s stock worth $5,208,289,000 after buying an additional 1,516,048 shares during the last quarter. 70.42% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on the stock. Piper Jaffray Companies lifted their target price on shares of AbbVie from $81.00 to $90.00 in a research note on Friday, November 1st. UBS Group boosted their target price on AbbVie from $79.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Citigroup increased their price target on AbbVie from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Royal Bank of Canada initiated coverage on AbbVie in a report on Monday, January 6th. They set a “sector perform” rating and a $86.00 price target for the company. Finally, ValuEngine upgraded AbbVie from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $86.33.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, November 1st. The company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.04. AbbVie had a net margin of 9.90% and a negative return on equity of 155.96%. The business had revenue of $8.48 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same quarter last year, the business posted $2.14 earnings per share. AbbVie’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, sell-side analysts predict that AbbVie Inc will post 8.95 EPS for the current year.
The company also recently disclosed a — dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $1.18 dividend. This represents a yield of 5.93%. This is a positive change from AbbVie’s previous — dividend of $1.07. The ex-dividend date is Tuesday, January 14th. AbbVie’s dividend payout ratio (DPR) is presently 59.67%.
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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