GW&K Investment Management LLC Purchases 72,240 Shares of AbbVie Inc (NYSE:ABBV)

GW&K Investment Management LLC lifted its position in shares of AbbVie Inc (NYSE:ABBV) by 16.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 500,359 shares of the company’s stock after buying an additional 72,240 shares during the quarter. GW&K Investment Management LLC’s holdings in AbbVie were worth $37,887,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lavaca Capital LLC boosted its position in AbbVie by 69.2% during the second quarter. Lavaca Capital LLC now owns 49,404 shares of the company’s stock valued at $3,593,000 after purchasing an additional 20,213 shares in the last quarter. Horseman Capital Management Ltd boosted its position in AbbVie by 45.5% during the second quarter. Horseman Capital Management Ltd now owns 16,000 shares of the company’s stock valued at $1,164,000 after purchasing an additional 5,000 shares in the last quarter. Ironwood Investment Counsel LLC boosted its position in AbbVie by 7.9% during the second quarter. Ironwood Investment Counsel LLC now owns 9,171 shares of the company’s stock valued at $666,000 after purchasing an additional 675 shares in the last quarter. Cedar Wealth Management LLC bought a new stake in AbbVie during the second quarter valued at about $44,000. Finally, Ballentine Partners LLC boosted its position in AbbVie by 52.1% during the second quarter. Ballentine Partners LLC now owns 12,168 shares of the company’s stock valued at $886,000 after purchasing an additional 4,169 shares in the last quarter. 68.38% of the stock is currently owned by institutional investors and hedge funds.

In other AbbVie news, EVP Timothy J. Richmond sold 15,515 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $75.02, for a total value of $1,163,935.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Laura J. Schumacher purchased 25,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was acquired at an average price of $70.42 per share, with a total value of $1,760,500.00. Following the completion of the purchase, the insider now owns 164,838 shares of the company’s stock, valued at approximately $11,607,891.96. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 88,077 shares of company stock valued at $4,401,551. 0.08% of the stock is currently owned by company insiders.

A number of equities research analysts recently weighed in on the company. Piper Jaffray Companies raised their price objective on AbbVie from $81.00 to $90.00 in a research report on Friday, November 1st. Cowen set a $90.00 price objective on AbbVie and gave the company a “buy” rating in a research report on Tuesday, September 24th. UBS Group raised AbbVie from a “neutral” rating to a “buy” rating and dropped their price objective 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. Finally, ValuEngine raised 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 issued a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $84.88.

AbbVie stock traded up $3.20 during midday trading on Friday, reaching $85.21. The company’s stock had a trading volume of 11,307,381 shares, compared to its average volume of 7,972,123. The stock’s 50-day simple moving average is $76.28 and its 200-day simple moving average is $73.49. AbbVie Inc has a 52-week low of $62.66 and a 52-week high of $94.98. The stock has a market capitalization of $121.00 billion, a P/E ratio of 10.77, a PEG ratio of 2.04 and a beta of 0.98.

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

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

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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