Csenge Advisory Group boosted its holdings in AbbVie Inc (NYSE:ABBV) by 11.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,774 shares of the company’s stock after buying an additional 894 shares during the period. Csenge Advisory Group’s holdings in AbbVie were worth $808,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of ABBV. Vanguard Group Inc. raised its holdings in shares of AbbVie by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 118,762,307 shares of the company’s stock worth $11,232,540,000 after purchasing an additional 912,625 shares during the period. Vanguard Group Inc raised its holdings in shares of AbbVie by 0.8% during the 3rd quarter. Vanguard Group Inc now owns 118,762,307 shares of the company’s stock valued at $11,232,540,000 after buying an additional 912,625 shares during the period. Capital International Investors raised its holdings in shares of AbbVie by 266.4% during the 3rd quarter. Capital International Investors now owns 27,594,648 shares of the company’s stock valued at $2,609,902,000 after buying an additional 20,063,435 shares during the period. Capital World Investors raised its holdings in shares of AbbVie by 74.9% during the 3rd quarter. Capital World Investors now owns 25,359,025 shares of the company’s stock valued at $2,398,457,000 after buying an additional 10,858,432 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of AbbVie by 2.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 15,879,753 shares of the company’s stock valued at $1,501,907,000 after buying an additional 382,597 shares during the period. 70.66% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on the company. Morgan Stanley set a $88.00 target price on AbbVie and gave the company a “hold” rating in a report on Thursday, December 20th. Zacks Investment Research downgraded AbbVie from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. Argus downgraded AbbVie from a “buy” rating to a “hold” rating in a report on Monday, March 25th. Barclays reiterated a “hold” rating and set a $86.00 target price on shares of AbbVie in a report on Thursday, February 14th. Finally, Credit Suisse Group set a $79.00 target price on AbbVie and gave the company a “hold” rating in a report on Friday, January 25th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $94.48.
Shares of NYSE ABBV opened at $80.21 on Wednesday. AbbVie Inc has a fifty-two week low of $75.77 and a fifty-two week high of $107.25. The company has a market cap of $119.53 billion, a price-to-earnings ratio of 10.14, a price-to-earnings-growth ratio of 1.66 and a beta of 1.16.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 25th. The company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.02). AbbVie had a net margin of 17.36% and a negative return on equity of 439.07%. The business had revenue of $8.31 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter last year, the business earned $1.48 EPS. AbbVie’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts forecast that AbbVie Inc will post 8.69 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $4.28 dividend on an annualized basis and a yield of 5.34%. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.
In other AbbVie news, Vice Chairman Laura J. Schumacher sold 25,000 shares of the firm’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 transaction of $2,000,000.00. Following the completion of the sale, the insider now owns 139,838 shares in the company, valued at approximately $11,187,040. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Brian L. Durkin sold 475 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $79.69, for a total value of $37,852.75. Following the sale, the vice president now owns 9,121 shares of the company’s stock, valued at approximately $726,852.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,272 shares of company stock valued at $3,286,290. 0.08% of the stock is owned by insiders.
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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