Sentry Investment Management LLC decreased its position in shares of AbbVie Inc (NYSE:ABBV) by 2.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 99,497 shares of the company’s stock after selling 2,549 shares during the quarter. Sentry Investment Management LLC’s holdings in AbbVie were worth $9,173,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of ABBV. Vanguard Group Inc. raised its stake in shares of AbbVie by 0.8% in the third quarter. Vanguard Group Inc. now owns 118,762,307 shares of the company’s stock worth $11,232,540,000 after purchasing an additional 912,625 shares during the last quarter. Vanguard Group Inc raised its stake in shares of AbbVie by 0.8% in the third quarter. Vanguard Group Inc now owns 118,762,307 shares of the company’s stock worth $11,232,540,000 after purchasing an additional 912,625 shares during the last quarter. Capital International Investors raised its stake in shares of AbbVie by 266.4% in the third quarter. Capital International Investors now owns 27,594,648 shares of the company’s stock worth $2,609,902,000 after purchasing an additional 20,063,435 shares during the last quarter. Capital World Investors raised its stake in shares of AbbVie by 74.9% in the third quarter. Capital World Investors now owns 25,359,025 shares of the company’s stock worth $2,398,457,000 after purchasing an additional 10,858,432 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of AbbVie by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 15,921,433 shares of the company’s stock worth $1,467,797,000 after purchasing an additional 41,680 shares during the last quarter. Institutional investors and hedge funds own 70.53% of the company’s stock.
In related news, VP Brian L. Durkin sold 475 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $79.69, for a total transaction of $37,852.75. Following the completion of the transaction, the vice president now directly owns 9,121 shares of the company’s stock, valued at $726,852.49. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Laura J. Schumacher sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $80.00, for a total value of $2,000,000.00. Following the sale, the insider now owns 139,838 shares in the company, valued at $11,187,040. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,272 shares of company stock valued at $3,286,290. Corporate insiders own 0.08% of the company’s stock.
Shares of NYSE ABBV traded up $0.71 during mid-day trading on Wednesday, reaching $81.59. The company’s stock had a trading volume of 4,120,348 shares, compared to its average volume of 6,332,157. The firm has a market cap of $119.57 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 1.62 and a beta of 1.14. AbbVie Inc has a 52 week low of $75.62 and a 52 week high of $106.32.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, April 25th. The company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.08. The firm had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.81 billion. AbbVie had a negative return on equity of 221.09% and a net margin of 16.42%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.87 earnings per share. On average, sell-side analysts forecast that AbbVie Inc will post 8.83 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th were paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date was Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is 54.11%.
Several research analysts have recently weighed in on the company. Zacks Investment Research cut AbbVie from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. ValuEngine upgraded AbbVie from a “strong sell” rating to a “sell” rating in a research report on Friday, March 15th. Barclays reiterated a “hold” rating and set a $86.00 price objective on shares of AbbVie in a research report on Thursday, February 14th. UBS Group reiterated a “neutral” rating and set a $91.00 price objective (down previously from $97.00) on shares of AbbVie in a research report on Wednesday, January 23rd. Finally, BMO Capital Markets raised AbbVie from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $71.00 to $79.00 in a report on Sunday, April 28th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $94.95.
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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