Tekla Capital Management LLC lessened its stake in shares of AbbVie Inc (NYSE:ABBV) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 492,078 shares of the company’s stock after selling 21,580 shares during the quarter. AbbVie comprises about 1.7% of Tekla Capital Management LLC’s holdings, making the stock its 14th biggest holding. Tekla Capital Management LLC’s holdings in AbbVie were worth $46,541,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Signature Estate & Investment Advisors LLC purchased a new stake in shares of AbbVie during the 3rd quarter worth approximately $112,000. Kiley Juergens Wealth Management LLC lifted its position in shares of AbbVie by 69.3% during the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 1,761 shares of the company’s stock worth $166,000 after buying an additional 721 shares during the last quarter. SRS Capital Advisors Inc. purchased a new stake in shares of AbbVie during the 3rd quarter worth approximately $187,000. Biegel & Waller LLC purchased a new stake in shares of AbbVie during the 3rd quarter worth approximately $206,000. Finally, Clearwater Capital Advisors LLC purchased a new stake in AbbVie in the 3rd quarter valued at $211,000. Institutional investors and hedge funds own 69.76% of the company’s stock.
Shares of AbbVie stock opened at $88.31 on Friday. The firm has a market cap of $132.09 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 0.73 and a beta of 1.46. AbbVie Inc has a one year low of $77.50 and a one year high of $125.86.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, November 2nd. The company reported $2.14 EPS for the quarter, topping the Zacks’ consensus estimate of $2.01 by $0.13. AbbVie had a net margin of 23.50% and a return on equity of 2,006.63%. The company had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. AbbVie’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, sell-side analysts expect that AbbVie Inc will post 7.94 earnings per share for the current year.
AbbVie declared that its board has authorized a share buyback program on Thursday, December 13th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Tuesday, January 15th will be paid a dividend of $1.07 per share. The ex-dividend date is Monday, January 14th. This is a boost from AbbVie’s previous quarterly dividend of $0.96. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.85%. AbbVie’s dividend payout ratio is 68.57%.
In other news, Vice Chairman Laura J. Schumacher sold 25,000 shares of the company’s stock in a transaction on Saturday, December 28th. The shares were sold at an average price of $90.00, for a total transaction of $2,250,000.00. Following the transaction, the insider now directly owns 134,322 shares of the company’s stock, valued at approximately $12,088,980. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Laura J. Schumacher sold 94,140 shares of the company’s stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $93.58, for a total transaction of $8,809,621.20. Following the transaction, the insider now directly owns 192,398 shares in the company, valued at $18,004,604.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 263,440 shares of company stock worth $24,029,804. Corporate insiders own 0.07% of the company’s stock.
Several analysts recently commented on ABBV shares. Bank of America reduced their price target on shares of AbbVie from $107.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, October 4th. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a research report on Monday, October 1st. SunTrust Banks reduced their price target on shares of AbbVie from $157.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, October 22nd. Argus reduced their price target on shares of AbbVie from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, November 6th. Finally, Standpoint Research started coverage on shares of AbbVie in a research report on Wednesday, December 26th. They issued a “buy” rating for the company. Four analysts have rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $102.10.
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AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C.
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