AbbVie Inc (NYSE:ABBV) Shares Bought by Viking Fund Management LLC

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Viking Fund Management LLC grew its holdings in shares of AbbVie Inc (NYSE:ABBV) by 20.8% during the fourth quarter, HoldingsChannel reports. The firm owned 58,000 shares of the company’s stock after purchasing an additional 10,000 shares during the quarter. AbbVie accounts for approximately 1.4% of Viking Fund Management LLC’s investment portfolio, making the stock its 29th largest holding. Viking Fund Management LLC’s holdings in AbbVie were worth $5,135,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ABBV. Nuveen Asset Management LLC lifted its holdings in shares of AbbVie by 1,715.8% during the 2nd 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 period. BlackRock Inc. grew its holdings in AbbVie by 3.3% in the second quarter. BlackRock Inc. now owns 98,295,272 shares of the company’s stock valued at $7,148,030,000 after purchasing an additional 3,100,309 shares during the period. Price T Rowe Associates Inc. MD grew its holdings 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 valued at $376,404,000 after purchasing an additional 2,326,510 shares during the period. Man Group plc increased its position in AbbVie by 168.9% during the second quarter. Man Group plc now owns 2,605,268 shares of the company’s stock worth $189,456,000 after purchasing an additional 1,636,248 shares during the last quarter. Finally, State Street Corp increased its position in AbbVie by 2.3% during the third quarter. State Street Corp now owns 68,783,527 shares of the company’s stock worth $5,208,289,000 after purchasing an additional 1,516,048 shares during the last quarter. 70.42% of the stock is currently owned by institutional investors.

Shares of ABBV opened at $89.26 on Thursday. AbbVie Inc has a one year low of $62.66 and a one year high of $91.99. The stock has a 50-day moving average price of $88.51 and a 200 day moving average price of $76.87. The company has a market capitalization of $130.43 billion, a P/E ratio of 11.28, a P/E/G ratio of 2.08 and a beta of 0.97.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, November 1st. The company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.04. AbbVie had a negative return on equity of 155.96% and a net margin of 9.90%. The company had revenue of $8.48 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the previous year, the business earned $2.14 EPS. AbbVie’s revenue for the quarter was up 3.0% compared to the same quarter last year. Sell-side analysts anticipate that AbbVie Inc will post 8.95 earnings per share for the current year.

The business also recently declared a — dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.18 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a dividend yield of 5.93%. This is an increase from AbbVie’s previous — dividend of $1.07. AbbVie’s dividend payout ratio (DPR) is presently 59.67%.

A number of equities analysts have recently commented on ABBV shares. Royal Bank of Canada assumed coverage on shares of AbbVie in a research note on Monday, January 6th. They issued a “sector perform” rating and a $86.00 target price on the stock. UBS Group upped their price target on AbbVie from $79.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Piper Jaffray Companies increased their price objective on shares of AbbVie from $81.00 to $90.00 in a research report on Friday, November 1st. Bank of America lowered shares of AbbVie from a “buy” rating to a “neutral” rating in a research note on Friday, January 3rd. Finally, Citigroup boosted their target price on shares of AbbVie from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $86.33.

AbbVie 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: Price to Earnings Ratio (PE) Basics

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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