Perpetual Ltd Reduces Position in AbbVie Inc (ABBV)

Perpetual Ltd lowered its stake in shares of AbbVie Inc (NYSE:ABBV) by 12.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,255 shares of the company’s stock after selling 2,900 shares during the quarter. Perpetual Ltd’s holdings in AbbVie were worth $1,541,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ABBV. Capital Research Global Investors increased its holdings in AbbVie by 1.2% in the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock valued at $12,926,708,000 after buying an additional 2,130,919 shares during the period. Vanguard Group Inc. increased its holdings in AbbVie by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after buying an additional 3,706,941 shares during the period. BlackRock Inc. increased its holdings in AbbVie by 2.0% in the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock valued at $6,821,375,000 after buying an additional 1,864,418 shares during the period. Orbis Allan Gray Ltd increased its holdings in AbbVie by 35.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after buying an additional 3,340,038 shares during the period. Finally, Woodford Investment Management Ltd increased its holdings in AbbVie by 8.6% in the 2nd quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock valued at $859,589,000 after buying an additional 937,500 shares during the period. 69.32% of the stock is currently owned by institutional investors and hedge funds.

ABBV has been the topic of several analyst reports. BidaskClub raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Jefferies Group reissued a “buy” rating and issued a $94.00 price target on shares of AbbVie in a report on Friday, September 8th. Goldman Sachs Group reissued a “buy” rating and issued a $100.00 price target (up previously from $85.00) on shares of AbbVie in a report on Friday, September 8th. Cowen restated a “hold” rating and issued a $95.00 target price (up previously from $70.00) on shares of AbbVie in a research note on Monday, September 11th. Finally, Leerink Swann restated a “market perform” rating on shares of AbbVie in a research note on Tuesday, September 12th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $97.96.

Shares of AbbVie Inc (NYSE:ABBV) opened at $97.45 on Friday. AbbVie Inc has a 52 week low of $59.27 and a 52 week high of $98.87. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. The company has a market cap of $155,572.11, a price-to-earnings ratio of 18.35, a PEG ratio of 1.36 and a beta of 1.52.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the previous year, the company earned $1.21 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. sell-side analysts expect that AbbVie Inc will post 5.55 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.71 per share. This is an increase from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.84 annualized dividend and a yield of 2.91%. AbbVie’s dividend payout ratio is 62.29%.

In related news, insider Henry O. Gosebruch sold 18,300 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the transaction, the insider now owns 81,287 shares in the company, valued at approximately $7,360,537.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Robert A. Michael sold 6,699 shares of the company’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $88.00, for a total transaction of $589,512.00. Following the transaction, the vice president now owns 10,007 shares in the company, valued at approximately $880,616. The disclosure for this sale can be found here. In the last quarter, insiders have sold 414,335 shares of company stock worth $39,258,362. 0.23% of the stock is owned by corporate insiders.

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AbbVie 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.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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