AbbVie Inc (NYSE:ABBV) is CLARET ASSET MANAGEMENT Corp’s 9th Largest Position

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CLARET ASSET MANAGEMENT Corp grew its holdings in AbbVie Inc (NYSE:ABBV) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 147,218 shares of the company’s stock after buying an additional 518 shares during the quarter. AbbVie makes up about 2.3% of CLARET ASSET MANAGEMENT Corp’s investment portfolio, making the stock its 9th largest holding. CLARET ASSET MANAGEMENT Corp’s holdings in AbbVie were worth $11,147,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nuveen Asset Management LLC boosted its holdings 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 valued at $697,664,000 after purchasing an additional 9,065,487 shares during the period. FMR LLC lifted its position in AbbVie by 56.5% during the 1st quarter. FMR LLC now owns 13,200,141 shares of the company’s stock valued at $1,063,799,000 after purchasing an additional 4,765,946 shares during the period. BlackRock Inc. increased its stake in shares of AbbVie by 3.3% in the 2nd 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 2nd 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 during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of AbbVie by 81.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,176,070 shares of the company’s stock valued at $376,404,000 after buying an additional 2,326,510 shares during the last quarter. Institutional investors and hedge funds own 68.14% of the company’s stock.

NYSE ABBV traded down $0.46 during trading hours on Friday, reaching $73.99. 3,898,762 shares of the company’s stock were exchanged, compared to its average volume of 7,972,179. The company has a market capitalization of $108.71 billion, a price-to-earnings ratio of 9.35, a price-to-earnings-growth ratio of 1.50 and a beta of 0.99. AbbVie Inc has a one year low of $62.66 and a one year high of $94.98. The company’s 50-day moving average is $70.30 and its two-hundred day moving average is $73.90.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 26th. The company reported $2.26 EPS for the quarter, beating the Zacks’ consensus estimate of $2.21 by $0.05. The firm had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.09 billion. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the firm posted $2.00 earnings per share. Analysts predict that AbbVie Inc will post 8.9 EPS for the current year.

The company also recently declared a — dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $1.07 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a dividend yield of 6.4%. AbbVie’s payout ratio is 54.11%.

In other AbbVie news, EVP Henry O. Gosebruch acquired 30,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was purchased at an average price of $67.28 per share, for a total transaction of $2,018,400.00. Following the acquisition, the executive vice president now owns 75,763 shares in the company, valued at approximately $5,097,334.64. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy J. Richmond sold 15,515 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $75.02, for a total value of $1,163,935.30. The disclosure for this sale can be found here. Insiders purchased 183,077 shares of company stock valued at $10,705,751 in the last quarter. 0.08% of the stock is owned by company insiders.

Several equities research analysts recently issued reports on ABBV shares. Wolfe Research upgraded AbbVie from an “underperform” rating to a “peer perform” rating in a report on Thursday, June 27th. UBS Group raised AbbVie from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $85.00 to $79.00 in a research report on Thursday, September 12th. Cowen set a $90.00 price objective on AbbVie and gave the stock a “buy” rating in a report on Tuesday, September 24th. TheStreet downgraded AbbVie from a “b-” rating to a “c” rating in a research report on Monday, August 26th. Finally, ValuEngine raised AbbVie from a “strong sell” rating to a “sell” rating in a research note on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. AbbVie has a consensus rating of “Hold” and a consensus price target of $89.97.

AbbVie Company Profile

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.

Further Reading: Net Margin

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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