AbbVie Inc (NYSE:ABBV) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS trimmed its stake in shares of AbbVie Inc (NYSE:ABBV) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,449 shares of the company’s stock after selling 210 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in AbbVie were worth $2,381,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Nuveen Asset Management LLC boosted its position in AbbVie by 1,715.8% during the second quarter. Nuveen Asset Management LLC now owns 9,593,845 shares of the company’s stock worth $697,664,000 after purchasing an additional 9,065,487 shares in the last quarter. BlackRock Inc. lifted its position in shares of AbbVie by 3.3% in the second quarter. BlackRock Inc. now owns 98,295,272 shares of the company’s stock valued at $7,148,030,000 after acquiring an additional 3,100,309 shares in the last quarter. Putnam Investments LLC lifted its position in shares of AbbVie by 433.3% in the second quarter. Putnam Investments LLC now owns 3,634,868 shares of the company’s stock valued at $264,327,000 after acquiring an additional 2,953,331 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of AbbVie by 81.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 5,176,070 shares of the company’s stock valued at $376,404,000 after acquiring an additional 2,326,510 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of AbbVie by 83.4% in the second quarter. Renaissance Technologies LLC now owns 4,538,542 shares of the company’s stock valued at $330,043,000 after acquiring an additional 2,064,486 shares in the last quarter. 68.38% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently weighed in on ABBV shares. Piper Jaffray Companies raised their target price on AbbVie from $81.00 to $90.00 in a research report on Friday, November 1st. UBS Group upgraded AbbVie from a “neutral” rating to a “buy” rating and decreased their target price for the company from $85.00 to $79.00 in a research report on Thursday, September 12th. TheStreet downgraded AbbVie from a “b-” rating to a “c” rating in a research report on Monday, August 26th. Cowen set a $90.00 target price on AbbVie and gave the company a “buy” rating in a research report on Tuesday, September 24th. Finally, ValuEngine upgraded AbbVie from a “strong sell” rating to a “sell” rating in a research report on Monday, September 30th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $84.88.

In other news, major shareholder Istar Inc. acquired 40,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $28.52 per share, with a total value of $1,140,800.00. Also, EVP Timothy J. Richmond sold 15,515 shares of AbbVie stock in a transaction on Friday, September 27th. The shares were sold at an average price of $75.02, for a total value of $1,163,935.30. The disclosure for this sale can be found here. In the last three months, insiders have acquired 88,077 shares of company stock valued at $4,401,551. 0.08% of the stock is owned by insiders.

ABBV stock traded up $3.20 during midday trading on Friday, hitting $85.21. 11,307,381 shares of the company’s stock were exchanged, compared to its average volume of 7,972,123. The business has a 50-day simple moving average of $76.28 and a two-hundred day simple moving average of $73.49. The stock has a market capitalization of $121.00 billion, a PE ratio of 10.77, a P/E/G ratio of 2.04 and a beta of 0.98. AbbVie Inc has a 1-year low of $62.66 and a 1-year high of $94.98.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, November 1st. The company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.04. The company had revenue of $8.48 billion during the quarter, compared to analysts’ expectations of $8.37 billion. AbbVie had a negative return on equity of 155.71% and a net margin of 9.90%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.14 earnings per share. Equities research analysts forecast that AbbVie Inc will post 8.93 earnings per share for the current fiscal year.

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