Bredin Investment LLC purchased a new stake in AbbVie Inc (NYSE:ABBV) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 20,130 shares of the company’s stock, valued at approximately $1,981,000. AbbVie comprises approximately 1.6% of Bredin Investment LLC’s holdings, making the stock its 13th largest position.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABBV. Beaton Management Co. Inc. bought a new stake in shares of AbbVie during the 2nd quarter valued at about $528,000. Jennison Associates LLC bought a new stake in shares of AbbVie during the 3rd quarter valued at about $544,418,000. Parsec Financial Management Inc. boosted its position in shares of AbbVie by 265.3% during the 3rd quarter. Parsec Financial Management Inc. now owns 20,881 shares of the company’s stock valued at $1,856,000 after purchasing an additional 15,165 shares in the last quarter. First Merchants Corp boosted its position in shares of AbbVie by 114.7% during the 3rd quarter. First Merchants Corp now owns 71,497 shares of the company’s stock valued at $6,352,000 after purchasing an additional 38,196 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of AbbVie by 0.8% during the 3rd quarter. Swiss National Bank now owns 5,870,329 shares of the company’s stock valued at $521,637,000 after purchasing an additional 46,500 shares in the last quarter. Hedge funds and other institutional investors own 70.63% of the company’s stock.
Several equities research analysts recently commented on the company. Argus upped their target price on AbbVie from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. BMO Capital Markets lowered AbbVie from a “market perform” rating to an “underperform” rating and cut their target price for the company from $125.86 to $84.00 in a research report on Monday, January 29th. They noted that the move was a valuation call. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research report on Thursday, January 18th. Piper Jaffray Companies upped their target price on AbbVie from $130.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Finally, Evercore ISI restated a “buy” rating and set a $144.00 target price on shares of AbbVie in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $120.96.
AbbVie Inc (ABBV) opened at $118.30 on Tuesday. AbbVie Inc has a 52 week low of $63.12 and a 52 week high of $125.86. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.18 and a current ratio of 1.28. The firm has a market capitalization of $187,860.00, a P/E ratio of 21.35, a P/E/G ratio of 1.13 and a beta of 1.52.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 26th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.44 by $0.04. The firm had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.20 earnings per share. analysts anticipate that AbbVie Inc will post 7.48 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This is an increase from AbbVie’s previous quarterly dividend of $0.71. This represents a $3.84 annualized dividend and a dividend yield of 3.25%. AbbVie’s dividend payout ratio is 51.26%.
AbbVie announced that its Board of Directors has approved a stock repurchase program on Thursday, February 15th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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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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