Point72 Asset Management L.P. Raises Stock Position in AbbVie Inc (NYSE:ABBV)

Point72 Asset Management L.P. increased its holdings in shares of AbbVie Inc (NYSE:ABBV) by 1,161.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 884,906 shares of the company’s stock after purchasing an additional 814,776 shares during the period. Point72 Asset Management L.P. owned approximately 0.06% of AbbVie worth $64,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of AbbVie by 0.6% in the second quarter. Vanguard Group Inc. now owns 121,523,538 shares of the company’s stock worth $8,837,192,000 after buying an additional 679,398 shares in the last quarter. BlackRock Inc. lifted its stake in shares of AbbVie by 3.3% in 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 in the last quarter. Geode Capital Management LLC lifted its stake in shares of AbbVie by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 17,582,527 shares of the company’s stock worth $1,617,957,000 after buying an additional 880,288 shares in the last quarter. Norges Bank purchased a new position in shares of AbbVie in the fourth quarter worth about $1,300,469,000. Finally, FMR LLC lifted its stake in shares of AbbVie by 56.5% in 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 in the last quarter. 68.15% of the stock is owned by hedge funds and other institutional investors.

Shares of AbbVie stock traded up $0.84 on Friday, reaching $72.51. The company had a trading volume of 8,051,458 shares, compared to its average volume of 7,447,479. The firm’s 50 day moving average price is $66.65 and its two-hundred day moving average price is $74.50. The firm has a market cap of $105.86 billion, a PE ratio of 9.17, a PEG ratio of 1.70 and a beta of 0.95. AbbVie Inc has a 52-week low of $62.66 and a 52-week high of $96.60.



AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.05. The business had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.09 billion. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The business’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.00 EPS. Analysts anticipate that AbbVie Inc will post 8.9 EPS for the current fiscal year.

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

In other news, EVP William J. Chase purchased 30,400 shares of the stock in a transaction on Wednesday, June 26th. The stock was bought at an average price of $67.30 per share, for a total transaction of $2,045,920.00. Following the acquisition, the executive vice president now directly owns 169,552 shares of the company’s stock, valued at approximately $11,410,849.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roxanne S. Austin purchased 10,000 shares of the stock in a transaction on Tuesday, July 30th. The shares were purchased at an average price of $66.35 per share, with a total value of $663,500.00. Following the acquisition, the director now directly owns 62,114 shares in the company, valued at $4,121,263.90. The disclosure for this purchase can be found here. Insiders bought a total of 184,977 shares of company stock worth $12,387,121 over the last three months. Insiders own 0.08% of the company’s stock.

Several equities analysts have recently weighed in on the stock. TheStreet downgraded shares of AbbVie from a “b-” rating to a “c” rating in a research note on Monday, August 26th. Goldman Sachs Group started coverage on shares of AbbVie in a research note on Tuesday, May 28th. They set a “neutral” rating and a $84.00 target price on the stock. Svb Leerink raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 target price on the stock in a research note on Wednesday, June 26th. UBS Group raised shares of AbbVie from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $85.00 to $79.00 in a research note on Thursday, September 12th. Finally, ValuEngine downgraded shares of AbbVie from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. AbbVie has a consensus rating of “Hold” and an average price target of $91.20.

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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