Integrated Investment Consultants LLC cut its stake in shares of AbbVie Inc (NYSE:ABBV) by 1.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,532 shares of the company’s stock after selling 200 shares during the quarter. Integrated Investment Consultants LLC’s holdings in AbbVie were worth $797,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in ABBV. Nuveen Asset Management LLC grew its stake in shares of AbbVie by 1,715.8% in 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 during the last quarter. BlackRock Inc. boosted its position in AbbVie by 3.3% during 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 during the last quarter. Putnam Investments LLC boosted 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 valued at $264,327,000 after acquiring an additional 2,953,331 shares during the last quarter. Price T Rowe Associates Inc. MD boosted 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 valued at $376,404,000 after acquiring an additional 2,326,510 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in AbbVie by 83.4% during 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 during the last quarter. Institutional investors own 68.22% of the company’s stock.
ABBV has been the topic of a number of research analyst reports. Cowen set a $90.00 price target on shares of AbbVie and gave the company a “buy” rating in a research report on Tuesday, September 24th. Citigroup raised shares of AbbVie from a “neutral” rating to a “buy” rating and upped their price target for the company from $87.00 to $90.00 in a research report on Thursday, September 26th. UBS Group raised shares of AbbVie from a “neutral” rating to a “buy” rating and cut their price target for the company from $85.00 to $79.00 in a research report on Thursday, September 12th. Leerink Swann raised shares of AbbVie to a “buy” rating in a research report on Tuesday, July 2nd. Finally, ValuEngine raised shares of AbbVie from a “strong sell” rating to a “sell” rating in a research report on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. AbbVie has a consensus rating of “Hold” and a consensus price target of $89.97.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.05. The company had revenue of $8.26 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm earned $2.00 EPS. Equities research analysts predict that AbbVie Inc will post 8.93 EPS for the current fiscal year.
The business also recently disclosed a — dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a dividend yield of 6.4%. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.
In other news, EVP Timothy J. Richmond sold 15,515 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $75.02, for a total transaction of $1,163,935.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Laura J. Schumacher acquired 25,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were bought at an average cost of $70.42 per share, for a total transaction of $1,760,500.00. Following the transaction, the insider now directly owns 164,838 shares in the company, valued at $11,607,891.96. The disclosure for this purchase can be found here. Insiders have bought a total of 183,077 shares of company stock worth $10,705,751 in the last three months. Insiders own 0.08% of the company’s stock.
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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