Candriam Luxembourg S.C.A. Boosts Holdings in AbbVie Inc (NYSE:ABBV)

Candriam Luxembourg S.C.A. increased its stake in shares of AbbVie Inc (NYSE:ABBV) by 58.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 864,113 shares of the company’s stock after buying an additional 318,994 shares during the period. AbbVie comprises about 0.8% of Candriam Luxembourg S.C.A.’s holdings, making the stock its 19th biggest position. Candriam Luxembourg S.C.A. owned about 0.06% of AbbVie worth $65,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in 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 during the period. BlackRock Inc. boosted its position in 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 purchasing an additional 3,100,309 shares during the period. Nuveen Asset Management LLC boosted its position in shares of AbbVie by 1,715.8% in the second quarter. Nuveen Asset Management LLC now owns 9,593,845 shares of the company’s stock valued at $697,664,000 after acquiring an additional 9,065,487 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of AbbVie by 2.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 6,613,086 shares of the company’s stock valued at $480,904,000 after acquiring an additional 182,795 shares during the period. Finally, LSV Asset Management boosted its position in shares of AbbVie by 1.3% in the second quarter. LSV Asset Management now owns 6,504,926 shares of the company’s stock valued at $473,038,000 after acquiring an additional 83,454 shares during the period. Institutional investors and hedge funds own 68.22% of the company’s stock.

In related news, EVP Henry O. Gosebruch bought 30,000 shares of the company’s stock in a transaction on Monday, July 29th. The stock was acquired at an average cost of $67.28 per share, for a total transaction of $2,018,400.00. Following the completion of the transaction, the executive vice president now directly owns 75,763 shares in the company, valued at approximately $5,097,334.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roxanne S. Austin bought 10,000 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were bought at an average price of $66.35 per share, with a total value of $663,500.00. Following the completion of the transaction, the director now owns 62,114 shares of the company’s stock, valued at $4,121,263.90. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 183,077 shares of company stock valued at $10,705,751. 0.08% of the stock is currently owned by company insiders.

A number of equities analysts have recently commented on the stock. Piper Jaffray Companies raised their price objective on shares of AbbVie from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Wolfe Research upgraded shares of AbbVie from an “underperform” rating to a “peer perform” rating in a research report on Thursday, June 27th. Citigroup upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and raised their price objective for the company from $87.00 to $90.00 in a research report on Thursday, September 26th. Leerink Swann upgraded shares of AbbVie to a “buy” rating in a research report on Tuesday, July 2nd. Finally, UBS Group upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and cut their price objective for the company from $85.00 to $79.00 in a research report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $89.97.

AbbVie stock traded up $0.10 during mid-day trading on Monday, hitting $76.56. 966,454 shares of the company traded hands, compared to its average volume of 7,705,024. AbbVie Inc has a one year low of $62.66 and a one year high of $94.98. The stock has a market cap of $111.09 billion, a price-to-earnings ratio of 9.68, a price-to-earnings-growth ratio of 1.53 and a beta of 0.99. The stock has a fifty day moving average price of $71.60 and a 200-day moving average price of $73.69.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.05. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.09 billion. During the same period in the previous year, the business posted $2.00 earnings per share. AbbVie’s revenue for the quarter was down .3% on a year-over-year basis. As a group, sell-side analysts forecast that AbbVie Inc will post 8.93 EPS for the current fiscal year.

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

About AbbVie

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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