AbbVie Inc (NYSE:ABBV) Stock Position Cut by Dean Capital Investments Management LLC

Dean Capital Investments Management LLC lessened its stake in AbbVie Inc (NYSE:ABBV) by 50.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,651 shares of the company’s stock after selling 2,685 shares during the quarter. Dean Capital Investments Management LLC’s holdings in AbbVie were worth $201,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ABBV. Nuveen Asset Management LLC boosted its position in shares of AbbVie by 1,715.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 9,593,845 shares of the company’s stock valued at $697,664,000 after purchasing an additional 9,065,487 shares in the last quarter. BlackRock Inc. boosted its position in shares of AbbVie by 3.3% during the 2nd quarter. BlackRock Inc. now owns 98,295,272 shares of the company’s stock valued at $7,148,030,000 after purchasing an additional 3,100,309 shares in the last quarter. Putnam Investments LLC boosted its position in shares of AbbVie by 433.3% during the 2nd quarter. Putnam Investments LLC now owns 3,634,868 shares of the company’s stock valued at $264,327,000 after purchasing an additional 2,953,331 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of AbbVie by 81.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,176,070 shares of the company’s stock valued at $376,404,000 after purchasing an additional 2,326,510 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of AbbVie by 83.4% during the 2nd quarter. Renaissance Technologies LLC now owns 4,538,542 shares of the company’s stock valued at $330,043,000 after purchasing an additional 2,064,486 shares in the last quarter. Institutional investors own 68.45% of the company’s stock.

NYSE ABBV opened at $87.63 on Friday. The company has a 50 day simple moving average of $77.63 and a 200-day simple moving average of $73.68. The firm has a market capitalization of $127.83 billion, a price-to-earnings ratio of 11.08, a price-to-earnings-growth ratio of 2.15 and a beta of 0.98. AbbVie Inc has a 52-week low of $62.66 and a 52-week high of $94.98.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, November 1st. The company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.04. The business had revenue of $8.48 billion during the quarter, compared to analyst estimates of $8.37 billion. AbbVie had a net margin of 9.90% and a negative return on equity of 155.96%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.14 earnings per share. As a group, equities research analysts predict that AbbVie Inc will post 8.93 EPS for the current fiscal year.

The business also recently declared a — dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $1.07 dividend. This represents a dividend yield of 6.4%. The ex-dividend date of this dividend is Friday, October 11th. AbbVie’s dividend payout ratio (DPR) is 54.11%.

A number of research firms have commented on ABBV. Citigroup raised shares of AbbVie from a “neutral” rating to a “buy” rating and upped their price objective for the company from $87.00 to $90.00 in a research note on Thursday, September 26th. ValuEngine raised shares of AbbVie from a “strong sell” rating to a “sell” rating in a research note on Monday, September 30th. Cowen set a $90.00 price objective on shares of AbbVie and gave the company a “buy” rating in a research note on Tuesday, September 24th. TheStreet lowered shares of AbbVie from a “b-” rating to a “c” rating in a research note on Monday, August 26th. Finally, Piper Jaffray Companies upped their price objective on shares of AbbVie from $81.00 to $90.00 in a research note on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. AbbVie currently has a consensus rating of “Hold” and an average target price of $84.88.

In related news, SVP Nicholas Donoghoe purchased 7,525 shares of AbbVie stock in a transaction dated Thursday, August 29th. The stock was acquired at an average cost of $66.19 per share, with a total value of $498,079.75. Following the completion of the transaction, the senior vice president now directly owns 13,090 shares of the company’s stock, valued at $866,427.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy J. Richmond sold 15,515 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $75.02, for a total transaction of $1,163,935.30. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

AbbVie 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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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