BB&T Corp lowered its position in AbbVie Inc (NYSE:ABBV) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 577,421 shares of the company’s stock after selling 4,125 shares during the period. AbbVie makes up about 1.0% of BB&T Corp’s portfolio, making the stock its 13th largest position. BB&T Corp’s holdings in AbbVie were worth $51,310,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in AbbVie by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after purchasing an additional 3,706,941 shares in the last quarter. Janus Henderson Group PLC boosted its stake in AbbVie by 1,949.7% in the 2nd quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock worth $277,967,000 after purchasing an additional 3,646,510 shares in the last quarter. Orbis Allan Gray Ltd boosted its stake in AbbVie by 35.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after purchasing an additional 3,340,038 shares in the last quarter. Capital Research Global Investors boosted its stake in AbbVie by 1.2% in the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock worth $12,926,708,000 after purchasing an additional 2,130,919 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in AbbVie by 2.0% in the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock worth $6,821,375,000 after purchasing an additional 1,864,418 shares in the last quarter. 69.18% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have commented on ABBV shares. Jefferies Group lifted their price objective on shares of AbbVie from $107.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, October 16th. BMO Capital Markets set a $66.00 price objective on shares of AbbVie and gave the company a “hold” rating in a research note on Friday, October 27th. BidaskClub upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Piper Jaffray Companies lifted their price objective on shares of AbbVie to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. Finally, SunTrust Banks restated a “buy” rating on shares of AbbVie in a research note on Monday, October 30th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $100.26.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the business posted $1.21 EPS. The business’s revenue was up 8.8% compared to the same quarter last year. research analysts anticipate that AbbVie Inc will post 5.55 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a $0.71 dividend. This is a boost from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Thursday, January 11th. AbbVie’s payout ratio is currently 62.29%.
In related news, SVP Timothy J. Richmond sold 87,040 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $98.45, for a total value of $8,569,088.00. Following the completion of the sale, the senior vice president now owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Henry O. Gosebruch sold 18,300 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the completion of the sale, the insider now directly owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 501,375 shares of company stock valued at $47,827,450. Company insiders own 0.23% of the company’s stock.
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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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