Gofen & Glossberg LLC IL decreased its position in shares of AbbVie Inc. (NYSE: ABBV – Get Rating) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 333,875 shares of the company stock after selling 1,983 shares during the quarter. AbbVie comprises approximately 1.2% of Gofen & Glossberg LLC IL’s investment portfolio, making the stock its 19th largest position. Gofen & Glossberg LLC IL’s holdings in AbbVie were worth $ 54,124,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $ 2,433,269,000. State Street Corp grew its position in shares of AbbVie by 3.4% during the 4th quarter. State Street Corp now owns 79,357,705 shares of the company stock worth $ 10,745,033,000 after buying an additional 2,597,076 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $ 272,868,000. Capital International Investors grew its position in shares of AbbVie by 19.7% during the 4th quarter. Capital International Investors now owns 11,615,068 shares of the company stock worth $ 1,572,680,000 after buying an additional 1,913,451 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of AbbVie by 51.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,533,034 shares of the company stock worth $ 752,074,000 after buying an additional 1,874,609 shares during the period. Hedge funds and other institutional investors own 67.03% of the company stock.
NYSE ABBV opened at $ 152.34 on Friday. The stock has a market capitalization of $ 269.20 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 4.21 and a beta of 0.83. AbbVie Inc. has a one year low of $ 105.56 and a one year high of $ 175.91. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.82 and a quick ratio of 0.71. The business’s fifty day moving average is $ 149.71 and its 200-day moving average is $ 146.58.
AbbVie (NYSE: ABBV – Get Rating) last announced its quarterly earnings data on Friday, April 29th. The company reported $ 3.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $ 3.15 by $ 0.01. AbbVie had a return on equity of 159.31% and a net margin of 22.00%. The business had revenue of $ 13.36 billion for the quarter, compared to analysts’ expectations of $ 13.61 billion. During the same period in the previous year, the business posted $ 2.95 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Research analysts expect that AbbVie Inc. will post 14.02 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 15th will be paid a $ 1.41 dividend. This represents a $ 5.64 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Thursday, July 14th. AbbVie’s dividend payout ratio is currently 80.92%.
ABBV has been the subject of several recent analyst reports. Barclays raised their price objective on shares of AbbVie from $ 150.00 to $ 174.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 12th. StockNews.com raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 8th. BMO Capital Markets lifted their price target on shares of AbbVie from $ 161.00 to $ 174.00 and gave the company an “outperform” rating in a research report on Monday, April 25th. SVB Leerink initiated coverage on shares of AbbVie in a research report on Monday, May 23rd. They issued an “underperform” rating and a $ 140.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on shares of AbbVie from $ 165.00 to $ 200.00 in a research report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $ 159.75.
In other AbbVie news, Vice Chairman Michael Severino sold 79,801 shares of AbbVie stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $ 150.90, for a total transaction of $ 12,041,970.90. Following the completion of the transaction, the insider now owns 152,103 shares of the company stock, valued at approximately $ 22,952,342.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Henry O. Gosebruch sold 83,960 shares of AbbVie stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $ 155.00, for a total value of $ 13,013,800.00. Following the transaction, the executive vice president now directly owns 16,623 shares of the company stock, valued at approximately $ 2,576,565. The disclosure for this sale can be found here. Insiders sold a total of 463,761 shares of company stock worth $ 70,609,771 over the last 90 days. 0.08% of the stock is currently owned by company insiders.
About AbbVie: (Get Rating)
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet’s diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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