Impax Asset Management Group plc grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,914 shares of the company’s stock after purchasing an additional 201 shares during the quarter. Impax Asset Management Group plc’s holdings in AbbVie were worth $8,620,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in AbbVie by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 144,693,566 shares of the company’s stock worth $16,298,283,000 after purchasing an additional 959,620 shares during the last quarter. BlackRock Inc. boosted its stake in AbbVie by 3.5% during the 3rd quarter. BlackRock Inc. now owns 126,839,439 shares of the company’s stock worth $13,682,169,000 after purchasing an additional 4,247,445 shares during the last quarter. State Street Corp boosted its stake in AbbVie by 0.6% during the 2nd quarter. State Street Corp now owns 75,963,304 shares of the company’s stock worth $8,556,507,000 after purchasing an additional 467,356 shares during the last quarter. Morgan Stanley boosted its stake in AbbVie by 1.1% during the 2nd quarter. Morgan Stanley now owns 18,944,687 shares of the company’s stock worth $2,133,931,000 after purchasing an additional 214,425 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in AbbVie by 79.5% during the 2nd quarter. Franklin Resources Inc. now owns 16,643,367 shares of the company’s stock worth $1,874,708,000 after purchasing an additional 7,370,931 shares during the last quarter. 65.36% of the stock is currently owned by institutional investors.
In other news, Vice Chairman Laura J. Schumacher sold 181,670 shares of the business’s stock in a transaction dated Friday, December 17th. The stock was sold at an average price of $130.24, for a total transaction of $23,660,700.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian L. Durkin sold 11,790 shares of the business’s stock in a transaction dated Monday, December 20th. The stock was sold at an average price of $128.51, for a total value of $1,515,132.90. The disclosure for this sale can be found here. Insiders have sold 478,364 shares of company stock worth $59,793,977 over the last quarter. Insiders own 0.09% of the company’s stock.
ABBV has been the topic of several analyst reports. Redburn Partners initiated coverage on AbbVie in a report on Thursday, January 13th. They set a “buy” rating on the stock. The Goldman Sachs Group initiated coverage on AbbVie in a report on Friday, December 17th. They set a “neutral” rating and a $113.00 price target on the stock. Cowen lifted their price target on AbbVie from $130.00 to $150.00 in a report on Tuesday, January 18th. BMO Capital Markets lifted their price target on AbbVie from $134.00 to $153.00 and gave the stock an “outperform” rating in a report on Wednesday, January 12th. Finally, Wells Fargo & Company initiated coverage on AbbVie in a report on Wednesday, December 8th. They set an “overweight” rating and a $165.00 price target on the stock. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $140.69.
Shares of NYSE:ABBV opened at $131.98 on Monday. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.01 and a quick ratio of 0.91. The firm has a market capitalization of $233.23 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 2.06 and a beta of 0.86. The firm’s 50-day moving average is $127.60 and its two-hundred day moving average is $118.34. AbbVie Inc. has a 1 year low of $101.81 and a 1 year high of $138.15.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, October 28th. The company reported $3.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.22 by $0.11. The company had revenue of $14.34 billion for the quarter, compared to analyst estimates of $14.30 billion. AbbVie had a net margin of 13.66% and a return on equity of 166.05%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.83 earnings per share. Analysts expect that AbbVie Inc. will post 12.68 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 15th. Shareholders of record on Friday, January 14th will be paid a dividend of $1.41 per share. The ex-dividend date of this dividend is Thursday, January 13th. This is a positive change from AbbVie’s previous quarterly dividend of $1.30. This represents a $5.64 dividend on an annualized basis and a yield of 4.27%. AbbVie’s dividend payout ratio is 134.29%.
AbbVie Profile
AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.
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