Calamos Advisors LLC Purchases 6,746 Shares of AbbVie Inc. $ABBV

Calamos Advisors LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.7% during the third quarter, HoldingsChannel.com reports. The fund owned 406,639 shares of the company’s stock after buying an additional 6,746 shares during the quarter. Calamos Advisors LLC’s holdings in AbbVie were worth $106,373,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the company. State Street Corp raised its position in AbbVie by 1.7% in the second quarter. State Street Corp now owns 82,596,748 shares of the company’s stock worth $20,784,646,000 after acquiring an additional 1,379,232 shares during the period. Corient Private Wealth LP purchased a new position in shares of AbbVie during the 2nd quarter worth $559,736,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of AbbVie by 0.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,267,697 shares of the company’s stock worth $3,590,323,000 after acquiring an additional 106,091 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of AbbVie during the 2nd quarter valued at $2,905,952,000. Finally, Deutsche Bank AG grew its position in shares of AbbVie by 13.0% during the 2nd quarter. Deutsche Bank AG now owns 10,772,949 shares of the company’s stock valued at $2,710,905,000 after acquiring an additional 1,241,587 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of AbbVie stock traded up $3.27 during trading hours on Friday, hitting $291.51. The company’s stock had a trading volume of 5,039,501 shares, compared to its average volume of 5,346,511. The business has a 50 day moving average price of $271.98 and a two-hundred day moving average price of $239.04. AbbVie Inc. has a 12-month low of $190.75 and a 12-month high of $302.93. The company has a market cap of $515.03 billion, a PE ratio of 50.17, a PEG ratio of 1.31 and a beta of 0.20.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, October 30th. The company reported $3.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.09. The firm had revenue of $17.40 billion during the quarter, compared to analysts’ expectations of $17.32 billion. AbbVie had a negative return on equity of 435.41% and a net margin of 15.67%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the business posted $1.86 earnings per share. As a group, research analysts anticipate that AbbVie Inc. will post 13.99 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 16th. Shareholders of record on Friday, January 15th will be paid a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.73. AbbVie’s dividend payout ratio is currently 119.10%.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s third-quarter results beat expectations, with revenue of $17.4 billion, and the company raised its full-year adjusted earnings outlook. The earnings report has strengthened the growth case for the shares. AbbVie stock climbs as Q3 earnings fuel growth case
• Positive Sentiment: A licensing agreement with Nxera Pharma for an EP4 agonist gives AbbVie another potential inflammatory bowel disease treatment candidate. The deal may add to its pipeline as investors assess the durability of its newer growth drivers. Nxera licenses EP4 agonist to AbbVie
• Positive Sentiment: AbbVie recently reached a fresh high following its earnings beat and a dividend increase, while analysts remain broadly optimistic. This supports investor interest in the stock as a defensive healthcare name. AbbVie’s new growth engines face another test
• Negative Sentiment: AbbVie’s shares have already climbed substantially and are near their 52-week high, leaving less room for disappointment. Humira’s decline also means the company must continue demonstrating that newer products can sustain growth. The one thing to settle before buying AbbVie stock

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the completion of the sale, the executive vice president directly owned 74,430 shares of the company’s stock, valued at $18,607,500. This trade represents a 30.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Scotiabank raised their target price on AbbVie from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Tuesday, October 6th. BNP Paribas Exane boosted their price target on AbbVie from $218.00 to $247.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Canaccord Genuity Group upped their price target on AbbVie from $290.00 to $338.00 and gave the stock a “buy” rating in a research report on Monday, November 2nd. Rothschild & Co Redburn raised their price objective on AbbVie from $284.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Finally, Wolfe Research raised AbbVie from a “peer perform” rating to an “outperform” rating and raised their price objective for the stock from $235.00 to $300.00 in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $297.46.

AbbVie Company Profile

AbbVie is a biopharmaceutical company that discovers, develops and markets medicines for a range of serious health conditions. Its research and product portfolio spans immunology, oncology, neuroscience and other therapeutic areas.

Key products include the immunology medicines Skyrizi and Rinvoq, cancer treatments such as Imbruvica and Venclexta, and neuroscience therapies including Botox and Vraylar. Through its Allergan acquisition, AbbVie also offers aesthetics products such as Botox Cosmetic and Juvéderm.

AbbVie was established in 2013 as a spin-off from Abbott Laboratories and is headquartered in North Chicago, Illinois.