Greenline Partners LLC lifted its stake in shares of AbbVie Inc (NYSE:ABBV) by 3.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,005 shares of the company’s stock after purchasing an additional 1,245 shares during the period. Greenline Partners LLC’s holdings in AbbVie were worth $3,868,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. Morgan Stanley raised its position in shares of AbbVie by 3.2% during the second quarter. Morgan Stanley now owns 11,134,470 shares of the company’s stock worth $1,031,608,000 after purchasing an additional 348,882 shares during the period. Janus Henderson Group PLC raised its position in shares of AbbVie by 15.9% during the second quarter. Janus Henderson Group PLC now owns 5,243,956 shares of the company’s stock worth $485,867,000 after purchasing an additional 717,452 shares during the period. Bank of Montreal Can raised its position in shares of AbbVie by 9.2% during the third quarter. Bank of Montreal Can now owns 5,210,247 shares of the company’s stock worth $492,786,000 after purchasing an additional 438,201 shares during the period. Dimensional Fund Advisors LP raised its position in shares of AbbVie by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 4,824,617 shares of the company’s stock worth $447,001,000 after purchasing an additional 157,594 shares during the period. Finally, Aristotle Capital Management LLC raised its position in shares of AbbVie by 0.9% during the first quarter. Aristotle Capital Management LLC now owns 3,787,873 shares of the company’s stock worth $358,522,000 after purchasing an additional 34,727 shares during the period. 69.47% of the stock is currently owned by institutional investors.
Shares of ABBV stock opened at $90.14 on Friday. AbbVie Inc has a 1-year low of $77.50 and a 1-year high of $125.86. The company has a current ratio of 1.20, a quick ratio of 1.08 and a debt-to-equity ratio of 8.70. The firm has a market cap of $134.91 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 0.83 and a beta of 1.62.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Tuesday, January 15th will be paid a $1.07 dividend. The ex-dividend date is Monday, January 14th. This represents a $4.28 dividend on an annualized basis and a yield of 4.75%. This is an increase from AbbVie’s previous quarterly dividend of $0.96. AbbVie’s payout ratio is 68.57%.
A number of equities research analysts have recently issued reports on ABBV shares. Credit Suisse Group set a $85.00 target price on AbbVie and gave the stock a “sell” rating in a research report on Saturday, October 20th. SunTrust Banks lowered their price target on AbbVie from $157.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, October 22nd. Wolfe Research initiated coverage on AbbVie in a report on Tuesday, October 23rd. They set an “underperform” rating on the stock. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a report on Monday, October 1st. Finally, Bank of America lowered their price target on AbbVie from $107.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, October 4th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $103.68.
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AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.
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