Landsberg Bennett & Dubbaneh LLC reduced its stake in AbbVie Inc (NYSE:ABBV) by 11.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,040 shares of the company’s stock after selling 743 shares during the quarter. Landsberg Bennett & Dubbaneh LLC’s holdings in AbbVie were worth $452,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of ABBV. Nuveen Asset Management LLC lifted 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 buying an additional 9,065,487 shares during the period. FMR LLC lifted its position in AbbVie by 56.5% during 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 during the period. BlackRock Inc. lifted 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 buying an additional 3,100,309 shares during the period. Putnam Investments LLC lifted its position in AbbVie by 433.3% during the second quarter. Putnam Investments LLC now owns 3,634,868 shares of the company’s stock worth $264,327,000 after buying an additional 2,953,331 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in AbbVie by 81.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 5,176,070 shares of the company’s stock worth $376,404,000 after buying an additional 2,326,510 shares during the period. Institutional investors and hedge funds own 68.14% of the company’s stock.
Shares of NYSE:ABBV opened at $73.63 on Friday. The firm has a market capitalization of $108.86 billion, a PE ratio of 9.31, a P/E/G ratio of 1.50 and a beta of 0.99. The business has a 50-day moving average of $70.42 and a two-hundred day moving average of $73.88. AbbVie Inc has a 12 month low of $62.66 and a 12 month high of $94.98.
The company also recently declared 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 is presently 54.11%.
In related news, EVP Henry O. Gosebruch bought 30,000 shares of the stock in a transaction dated Monday, July 29th. The stock was acquired at an average price of $67.28 per share, for a total transaction of $2,018,400.00. Following the completion of the purchase, the executive vice president now owns 75,763 shares in the company, valued at $5,097,334.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Istar Inc. bought 40,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $28.52 per share, with a total value of $1,140,800.00. Insiders have acquired 183,077 shares of company stock valued at $10,705,751 over the last 90 days. 0.08% of the stock is currently owned by insiders.
Several equities analysts recently weighed in on the company. UBS Group upgraded 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 report on Thursday, September 12th. Piper Jaffray Companies increased their target price on AbbVie from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Leerink Swann upgraded AbbVie to a “buy” rating in a research report on Tuesday, July 2nd. Cowen set a $90.00 target price on AbbVie and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Finally, TheStreet downgraded AbbVie from a “b-” rating to a “c” rating in a research report on Monday, August 26th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. AbbVie currently has an average rating of “Hold” and an average target price of $89.97.
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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