Cullinan Associates Inc. Cuts Position in AbbVie Inc (NYSE:ABBV)

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Cullinan Associates Inc. decreased its position in AbbVie Inc (NYSE:ABBV) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,700 shares of the company’s stock after selling 400 shares during the quarter. Cullinan Associates Inc.’s holdings in AbbVie were worth $1,036,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ABBV. Nuveen Asset Management LLC grew 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 in the last quarter. BlackRock Inc. grew 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 in the last quarter. Price T Rowe Associates Inc. MD grew 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 in the last quarter. Man Group plc grew its stake in shares of 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. Finally, State Street Corp grew its stake in shares of AbbVie by 2.3% in the third quarter. State Street Corp now owns 68,783,527 shares of the company’s stock worth $5,208,289,000 after acquiring an additional 1,516,048 shares in the last quarter. Institutional investors and hedge funds own 70.42% of the company’s stock.

Shares of ABBV stock opened at $89.26 on Thursday. The firm has a fifty day moving average price of $88.51 and a 200 day moving average price of $76.87. The company has a market cap of $130.43 billion, a P/E ratio of 11.28, a PEG ratio of 2.08 and a beta of 0.97. AbbVie Inc has a 12 month low of $62.66 and a 12 month high of $91.99.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, November 1st. The company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.04. The firm had revenue of $8.48 billion during the quarter, compared to the consensus estimate of $8.37 billion. AbbVie had a net margin of 9.90% and a negative return on equity of 155.96%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.14 earnings per share. As a group, equities analysts expect that AbbVie Inc will post 8.95 earnings per share for the current fiscal year.

The company also recently announced a — dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid 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 payout ratio is presently 59.67%.

ABBV has been the subject of several research reports. Cowen boosted their price target on shares of AbbVie from $90.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, December 26th. Citigroup boosted their price target on shares of AbbVie from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. ValuEngine upgraded shares of AbbVie from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Royal Bank of Canada initiated coverage on shares of AbbVie in a research note on Monday, January 6th. They issued a “sector perform” rating and a $86.00 price target for the company. Finally, Piper Jaffray Companies boosted their price target on shares of AbbVie from $81.00 to $90.00 in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $86.33.

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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