Blair William & Co. IL Acquires 18,223 Shares of AbbVie Inc (ABBV)

Blair William & Co. IL grew its holdings in AbbVie Inc (NYSE:ABBV) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 802,619 shares of the company’s stock after purchasing an additional 18,223 shares during the quarter. Blair William & Co. IL owned approximately 0.05% of AbbVie worth $75,912,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ABBV. FMR LLC boosted its stake in shares of AbbVie by 22.1% in the 3rd quarter. FMR LLC now owns 8,707,454 shares of the company’s stock valued at $823,551,000 after purchasing an additional 1,574,495 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in AbbVie during the 3rd quarter worth approximately $133,646,000. Assenagon Asset Management S.A. boosted its stake in AbbVie by 3,516.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 746,656 shares of the company’s stock worth $70,619,000 after acquiring an additional 726,012 shares during the last quarter. Janus Henderson Group PLC boosted its stake in AbbVie by 15.9% during the 2nd quarter. Janus Henderson Group PLC now owns 5,243,956 shares of the company’s stock worth $485,867,000 after acquiring an additional 717,452 shares during the last quarter. Finally, Royal London Asset Management Ltd. bought a new position in AbbVie during the 2nd quarter worth approximately $62,780,000. 69.76% of the stock is currently owned by institutional investors.

Shares of ABBV opened at $90.79 on Wednesday. AbbVie Inc has a twelve month low of $77.50 and a twelve month high of $125.86. The company has a market capitalization of $133.98 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of 0.74 and a beta of 1.46.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, November 2nd. The company reported $2.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.01 by $0.13. AbbVie had a net margin of 23.50% and a return on equity of 2,006.63%. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the previous year, the firm posted $1.41 earnings per share. The business’s revenue was up 17.7% on a year-over-year basis. On average, equities research analysts expect that AbbVie Inc will post 7.94 EPS for the current year.

AbbVie announced that its board has initiated a share buyback plan on Thursday, December 13th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

The business also recently declared 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 4.71%. This is a positive change from AbbVie’s previous quarterly dividend of $0.96. AbbVie’s payout ratio is presently 68.57%.

In other news, Vice Chairman Laura J. Schumacher sold 25,000 shares of AbbVie stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $90.00, for a total value of $2,250,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Henry O. Gosebruch sold 42,450 shares of AbbVie stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $90.10, for a total transaction of $3,824,745.00. Following the completion of the sale, the executive vice president now owns 30,350 shares in the company, valued at $2,734,535. The disclosure for this sale can be found here. In the last ninety days, insiders sold 263,440 shares of company stock worth $24,029,804. Insiders own 0.07% of the company’s stock.

Several research analysts recently weighed in on the stock. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Tuesday. Credit Suisse Group set a $85.00 price objective on shares of AbbVie and gave the stock a “hold” rating in a research note on Sunday, October 14th. Barclays reissued a “hold” rating and set a $90.00 price objective on shares of AbbVie in a research note on Sunday, November 4th. Bank of America reduced their price objective on shares of AbbVie from $107.00 to $106.00 and set a “buy” rating on the stock in a research note on Thursday, October 4th. Finally, Argus reduced their price objective on shares of AbbVie from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, November 6th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. AbbVie presently has a consensus rating of “Hold” and an average price target of $102.10.

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AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C.

Further Reading: Yield Curve

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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