Round Table Services LLC bought a new stake in AbbVie Inc (NYSE:ABBV) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 2,145 shares of the company’s stock, valued at approximately $207,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Beaton Management Co. Inc. purchased a new position in shares of AbbVie in the 2nd quarter valued at $528,000. Jennison Associates LLC purchased a new position in shares of AbbVie in the 3rd quarter valued at $544,418,000. Parsec Financial Management Inc. grew its position in shares of AbbVie by 265.3% in the 3rd quarter. Parsec Financial Management Inc. now owns 20,881 shares of the company’s stock valued at $1,856,000 after buying an additional 15,165 shares during the last quarter. First Merchants Corp grew its position in shares of AbbVie by 114.7% in the 3rd quarter. First Merchants Corp now owns 71,497 shares of the company’s stock valued at $6,352,000 after buying an additional 38,196 shares during the last quarter. Finally, Swiss National Bank grew its position in shares of AbbVie by 0.8% in the 3rd quarter. Swiss National Bank now owns 5,870,329 shares of the company’s stock valued at $521,637,000 after buying an additional 46,500 shares during the last quarter. 69.76% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AbbVie Inc (ABBV) opened at $119.29 on Friday. The firm has a market cap of $189,429.30, a PE ratio of 36.26, a PEG ratio of 1.13 and a beta of 1.52. The company has a quick ratio of 1.18, a current ratio of 1.28 and a debt-to-equity ratio of 6.07. AbbVie Inc has a fifty-two week low of $63.12 and a fifty-two week high of $125.86.
AbbVie announced that its Board of Directors has approved a stock buyback plan on Thursday, February 15th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be issued a $0.96 dividend. This is an increase from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.84 annualized dividend and a dividend yield of 3.22%. AbbVie’s payout ratio is presently 86.32%.
In other news, VP Robert A. Michael sold 992 shares of AbbVie stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $120.31, for a total value of $119,347.52. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Laura J. Schumacher sold 145,510 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $96.71, for a total transaction of $14,072,272.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 443,747 shares of company stock worth $47,226,935. Insiders own 0.23% of the company’s stock.
Several research analysts have issued reports on the stock. ValuEngine raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Leerink Swann set a $106.00 price objective on shares of AbbVie and gave the stock a “buy” rating in a research report on Tuesday, December 5th. Credit Suisse Group set a $135.00 price objective on shares of AbbVie and gave the stock a “hold” rating in a research report on Monday, January 29th. BMO Capital Markets reissued a “sell” rating and set a $95.00 price objective on shares of AbbVie in a research report on Thursday, February 15th. Finally, Zacks Investment Research downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $120.96.
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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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