Andra AP fonden raised its stake in AbbVie Inc (NYSE:ABBV) by 17.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 87,500 shares of the company’s stock after buying an additional 12,915 shares during the quarter. Andra AP fonden’s holdings in AbbVie were worth $7,775,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in ABBV. Acropolis Investment Management LLC bought a new stake in AbbVie in the second quarter worth approximately $106,000. Hudock Capital Group LLC grew its position in AbbVie by 109.5% in the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after acquiring an additional 806 shares in the last quarter. Ffcm LLC grew its position in AbbVie by 167.2% in the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after acquiring an additional 963 shares in the last quarter. Bristlecone Advisors LLC bought a new stake in AbbVie in the third quarter worth approximately $113,000. Finally, BDO Wealth Advisors LLC bought a new stake in AbbVie in the second quarter worth approximately $115,000. Hedge funds and other institutional investors own 69.18% of the company’s stock.
Shares of AbbVie Inc (NYSE:ABBV) opened at $99.49 on Tuesday. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. The stock has a market cap of $158,600.00, a price-to-earnings ratio of 24.15, a P/E/G ratio of 1.20 and a beta of 1.53. AbbVie Inc has a 1-year low of $59.27 and a 1-year high of $101.28.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a dividend of $0.71 per share. This is an increase from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio is currently 62.14%.
In other AbbVie news, SVP Timothy J. Richmond sold 87,040 shares of the 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 directly 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 the SEC website. Also, insider Henry O. Gosebruch sold 18,300 shares of the stock in a transaction on Monday, October 30th. The shares were 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 $7,360,537.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 494,676 shares of company stock valued at $47,237,938. Insiders own 0.23% of the company’s stock.
Several research firms have commented on ABBV. UBS Group reissued a “neutral” rating on shares of AbbVie in a research report on Friday, October 13th. Jefferies Group boosted their target price on shares of AbbVie from $107.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, October 16th. Cowen reissued a “hold” rating and issued a $95.00 target price (up from $70.00) on shares of AbbVie in a research report on Monday, September 11th. BMO Capital Markets reissued a “hold” rating and issued a $84.00 target price on shares of AbbVie in a research report on Tuesday, November 21st. Finally, Piper Jaffray Companies boosted their target price on shares of AbbVie to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 27th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. AbbVie currently has a consensus rating of “Buy” and an average target price of $100.94.
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AbbVie Company Profile
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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