Intellectus Partners LLC raised its holdings in AbbVie Inc (NYSE:ABBV) by 24.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,787 shares of the company’s stock after buying an additional 2,313 shares during the period. Intellectus Partners LLC’s holdings in AbbVie were worth $893,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of AbbVie by 0.6% during the second quarter. Vanguard Group Inc. now owns 121,523,538 shares of the company’s stock worth $8,837,192,000 after purchasing an additional 679,398 shares in the last quarter. BlackRock Inc. grew its holdings in shares of AbbVie by 3.3% during the second quarter. BlackRock Inc. now owns 98,295,272 shares of the company’s stock worth $7,148,030,000 after buying an additional 3,100,309 shares during the last quarter. FMR LLC grew its holdings in shares of AbbVie by 56.5% during the first quarter. FMR LLC now owns 13,200,141 shares of the company’s stock worth $1,063,799,000 after buying an additional 4,765,946 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in AbbVie by 1,715.8% in 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. Finally, Charles Schwab Investment Management Inc. boosted its holdings in AbbVie by 2.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 6,613,086 shares of the company’s stock valued at $480,904,000 after purchasing an additional 182,795 shares in the last quarter. Institutional investors own 68.14% of the company’s stock.
Several brokerages have recently commented on ABBV. Leerink Swann raised AbbVie to a “buy” rating in a research note on Tuesday, July 2nd. TheStreet downgraded AbbVie from a “b-” rating to a “c” rating in a research report on Monday, August 26th. Cowen set a $90.00 price objective on AbbVie and gave the stock a “buy” rating in a research report on Tuesday, September 24th. UBS Group upgraded AbbVie from a “neutral” rating to a “buy” rating and cut their price target for the company from $85.00 to $79.00 in a report on Thursday, September 12th. Finally, Piper Jaffray Companies boosted their price target on AbbVie from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $89.97.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 26th. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.05. The company had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.09 billion. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $2.00 EPS. As a group, research analysts anticipate that AbbVie Inc will post 8.9 EPS for the current fiscal year.
The company also recently disclosed a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $1.07 dividend. The ex-dividend date is Friday, October 11th. This represents a yield of 6.4%. AbbVie’s payout ratio is currently 54.11%.
In related news, Vice Chairman Laura J. Schumacher bought 25,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were acquired at an average price of $70.42 per share, for a total transaction of $1,760,500.00. Following the purchase, the insider now owns 164,838 shares in the company, valued at approximately $11,607,891.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Jeffrey Ryan Stewart bought 15,552 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was bought at an average price of $64.44 per share, for a total transaction of $1,002,170.88. Following the purchase, the senior vice president now owns 65,304 shares in the company, valued at approximately $4,208,189.76. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 183,077 shares of company stock valued at $10,705,751. 0.08% of the stock is currently owned by corporate insiders.
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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