Surevest Inc. lifted its position in AbbVie Inc (NYSE:ABBV) by 16.8% during the third quarter, HoldingsChannel.com reports. The fund owned 17,713 shares of the company’s stock after acquiring an additional 2,545 shares during the period. Surevest Inc.’s holdings in AbbVie were worth $1,341,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of ABBV. Nuveen Asset Management LLC boosted 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 acquiring an additional 9,065,487 shares during the last quarter. FMR LLC boosted its stake in shares of AbbVie by 56.5% in the first quarter. FMR LLC now owns 13,200,141 shares of the company’s stock worth $1,063,799,000 after acquiring an additional 4,765,946 shares during the last quarter. BlackRock Inc. boosted its stake in shares of 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 during the last quarter. Putnam Investments LLC boosted its stake in shares of 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 during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of 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 during the last quarter. 68.24% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:ABBV traded up $0.94 on Tuesday, reaching $74.70. The company’s stock had a trading volume of 291,858 shares, compared to its average volume of 7,693,439. AbbVie Inc has a 12-month low of $62.66 and a 12-month high of $94.98. The firm has a market cap of $108.86 billion, a price-to-earnings ratio of 9.44, a price-to-earnings-growth ratio of 1.50 and a beta of 0.99. The stock has a 50 day moving average price of $70.84 and a 200 day moving average price of $73.78.
The firm also recently announced a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $1.07 dividend. The ex-dividend date is Friday, October 11th. This represents a yield of 6.4%. AbbVie’s dividend payout ratio is currently 54.11%.
A number of equities analysts recently commented on ABBV shares. Leerink Swann upgraded AbbVie to a “buy” rating in a research report on Tuesday, July 2nd. TheStreet downgraded AbbVie from a “b-” rating to a “c” rating in a research report on Monday, August 26th. Wolfe Research upgraded AbbVie from an “underperform” rating to a “peer perform” rating in a research report on Thursday, June 27th. UBS Group upgraded AbbVie from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $85.00 to $79.00 in a research report on Thursday, September 12th. Finally, Cowen set a $90.00 price objective on AbbVie and gave the stock a “buy” rating in a research report on Tuesday, September 24th. 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. The company currently has a consensus rating of “Hold” and an average target price of $89.97.
In other news, Vice Chairman Laura J. Schumacher acquired 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were purchased at an average price of $70.42 per share, for a total transaction of $1,760,500.00. Following the acquisition, the insider now owns 164,838 shares of the company’s stock, valued at $11,607,891.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Timothy J. Richmond sold 15,515 shares of the business’s 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 acquired 183,077 shares of company stock worth $10,705,751 in the last 90 days. Company 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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