Oregon Public Employees Retirement Fund increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 170,273 shares of the company’s stock after buying an additional 778 shares during the period. Oregon Public Employees Retirement Fund’s holdings in AbbVie were worth $11,095,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in ABBV. Federated Investors Inc. PA increased its position in AbbVie by 0.6% in the fourth quarter. Federated Investors Inc. PA now owns 15,058,050 shares of the company’s stock valued at $942,935,000 after buying an additional 94,872 shares in the last quarter. Norges Bank purchased a new position in AbbVie during the fourth quarter worth about $823,984,000. Glenview Capital Management LLC purchased a new position in AbbVie during the fourth quarter worth about $570,905,000. Orbis Allan Gray Ltd boosted its position in AbbVie by 11.8% in the fourth quarter. Orbis Allan Gray Ltd now owns 5,485,407 shares of the company’s stock worth $343,496,000 after buying an additional 579,378 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in AbbVie by 5.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 5,420,301 shares of the company’s stock worth $339,421,000 after buying an additional 296,622 shares in the last quarter. 68.04% of the stock is currently owned by institutional investors and hedge funds.
AbbVie Inc. (NYSE ABBV) traded up 0.84% during midday trading on Friday, hitting $74.63. 4,961,484 shares of the stock traded hands. AbbVie Inc. has a 52 week low of $55.06 and a 52 week high of $75.04. The stock’s 50-day moving average price is $71.21 and its 200-day moving average price is $65.76. The stock has a market capitalization of $118.78 billion, a P/E ratio of 19.34 and a beta of 1.51.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, April 27th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.02. The company had revenue of $6.54 billion for the quarter, compared to the consensus estimate of $6.49 billion. AbbVie had a net margin of 24.07% and a return on equity of 148.83%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.15 earnings per share. Equities research analysts expect that AbbVie Inc. will post $5.53 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Wednesday, July 12th. AbbVie’s payout ratio is 66.32%.
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Several brokerages recently issued reports on ABBV. Deutsche Bank AG reiterated a “hold” rating and issued a $66.00 target price (up from $65.00) on shares of AbbVie in a research note on Monday, July 17th. Jefferies Group LLC reiterated a “buy” rating and issued a $94.00 target price (up from $92.00) on shares of AbbVie in a research note on Monday, July 17th. Zacks Investment Research upgraded shares of AbbVie from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Vetr raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $74.86 price target on the stock in a report on Thursday, July 6th. Finally, Leerink Swann set a $71.00 price target on shares of AbbVie and gave the company a “hold” rating in a report on Thursday, April 20th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $74.52.
In other news, CFO William J. Chase sold 38,300 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $65.35, for a total value of $2,502,905.00. Following the transaction, the chief financial officer now owns 209,043 shares of the company’s stock, valued at $13,660,960.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Laura J. Schumacher sold 79,800 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $70.00, for a total transaction of $5,586,000.00. Following the completion of the transaction, the insider now directly owns 187,625 shares in the company, valued at approximately $13,133,750. The disclosure for this sale can be found here. In the last three months, insiders sold 278,135 shares of company stock worth $18,841,085. 0.23% of the stock is currently owned by insiders.
AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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