Busey Trust CO boosted its position in AbbVie Inc. (NYSE:ABBV) by 0.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,831 shares of the company’s stock after buying an additional 202 shares during the period. Busey Trust CO’s holdings in AbbVie were worth $1,748,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in ABBV. Norges Bank acquired a new stake in shares of AbbVie during the fourth quarter valued at $823,984,000. Glenview Capital Management LLC acquired a new stake in shares of AbbVie during the fourth quarter valued at $570,905,000. Orbis Allan Gray Ltd increased its stake in shares of AbbVie by 11.8% in the fourth quarter. Orbis Allan Gray Ltd now owns 5,485,407 shares of the company’s stock valued at $343,496,000 after buying an additional 579,378 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of AbbVie by 5.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 5,420,301 shares of the company’s stock valued at $339,421,000 after buying an additional 296,622 shares in the last quarter. Finally, Aristotle Capital Management LLC increased its stake in shares of AbbVie by 4.2% in the fourth quarter. Aristotle Capital Management LLC now owns 4,371,904 shares of the company’s stock valued at $273,768,000 after buying an additional 176,116 shares in the last quarter. Institutional investors and hedge funds own 67.69% of the company’s stock.
Shares of AbbVie Inc. (NYSE:ABBV) opened at 69.96 on Friday. AbbVie Inc. has a 52 week low of $55.06 and a 52 week high of $75.04. The firm has a market cap of $111.52 billion, a price-to-earnings ratio of 17.21 and a beta of 1.50. The firm has a 50 day moving average of $71.72 and a 200 day moving average of $67.10.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.02. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The company had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the business earned $1.26 earnings per share. AbbVie’s quarterly revenue was up 7.6% on a year-over-year basis. Equities analysts predict that AbbVie Inc. will post $5.52 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th were given a dividend of $0.64 per share. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.66%. AbbVie’s payout ratio is 62.90%.
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Several brokerages have recently weighed in on ABBV. BMO Capital Markets restated a “market perform” rating and set a $66.00 target price on shares of AbbVie in a research note on Wednesday, May 17th. Piper Jaffray Companies restated a “buy” rating and set a $85.00 target price on shares of AbbVie in a research note on Thursday, August 3rd. Evercore ISI initiated coverage on shares of AbbVie in a research report on Wednesday. They set an “outperform” rating and a $95.00 price target on the stock. Vetr cut shares of AbbVie from a “buy” rating to a “hold” rating and set a $72.72 price target on the stock. in a research report on Wednesday, June 14th. Finally, Leerink Swann reaffirmed a “market perform” rating on shares of AbbVie in a research report on Thursday, June 22nd. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $76.02.
In other news, insider Laura J. Schumacher sold 79,800 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $70.00, for a total transaction of $5,586,000.00. Following the transaction, the insider now directly owns 187,625 shares in the company, valued at $13,133,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard A. Gonzalez sold 87,899 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $71.02, for a total transaction of $6,242,586.98. Following the transaction, the chairman now owns 342,353 shares in the company, valued at $24,313,910.06. The disclosure for this sale can be found here. Insiders have sold 490,491 shares of company stock worth $34,684,639 over the last quarter. 0.23% of the stock is owned by company insiders.
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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