Artemis Investment Management LLP grew its position in shares of AbbVie Inc (NYSE:ABBV) by 17.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,040,585 shares of the company’s stock after purchasing an additional 153,561 shares during the period. AbbVie makes up approximately 1.2% of Artemis Investment Management LLP’s investment portfolio, making the stock its 18th biggest position. Artemis Investment Management LLP owned 0.07% of AbbVie worth $92,050,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Nuveen Asset Management LLC grew its stake in shares of AbbVie by 1,715.8% in the 2nd 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 in the last quarter. BlackRock Inc. grew its position in 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 acquiring an additional 3,100,309 shares in the last quarter. Putnam Investments LLC grew its position in AbbVie by 433.3% in the second quarter. Putnam Investments LLC now owns 3,634,868 shares of the company’s stock worth $264,327,000 after acquiring an additional 2,953,331 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in AbbVie by 81.6% in 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 acquiring an additional 2,326,510 shares in the last quarter. Finally, Man Group plc grew its position in AbbVie by 168.9% in the second quarter. Man Group plc now owns 2,605,268 shares of the company’s stock worth $189,456,000 after acquiring an additional 1,636,248 shares in the last quarter. Hedge funds and other institutional investors own 70.42% of the company’s stock.
Shares of NYSE ABBV traded down $0.44 during mid-day trading on Tuesday, reaching $88.08. 3,526,597 shares of the company were exchanged, compared to its average volume of 6,156,041. The stock has a market cap of $131.70 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 2.10 and a beta of 0.97. AbbVie Inc has a 1 year low of $62.66 and a 1 year high of $91.99. The firm has a 50-day moving average of $88.46 and a 200 day moving average of $76.67.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, November 1st. The company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.04. The company had revenue of $8.48 billion for the quarter, compared to the consensus estimate of $8.37 billion. AbbVie had a negative return on equity of 155.96% and a net margin of 9.90%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.14 earnings per share. Analysts anticipate that AbbVie Inc will post 8.93 earnings per share for the current year.
The firm also recently disclosed a — dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.18 dividend. This is a boost from AbbVie’s previous — dividend of $1.07. The ex-dividend date is Tuesday, January 14th. This represents a dividend yield of 5.93%. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.
Several research firms recently commented on ABBV. ValuEngine upgraded AbbVie from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. UBS Group lifted their price target on AbbVie from $79.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Citigroup lifted their price target on AbbVie from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Piper Jaffray Companies lifted their price target on AbbVie from $81.00 to $90.00 in a research report on Friday, November 1st. Finally, Bank of America lowered AbbVie from a “buy” rating to a “neutral” rating in a research report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. AbbVie currently has an average rating of “Hold” and an average target price of $86.33.
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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