Alberta Investment Management Corp lifted its stake in AbbVie Inc (NYSE:ABBV) by 341.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 266,400 shares of the company’s stock after purchasing an additional 206,100 shares during the quarter. Alberta Investment Management Corp’s holdings in AbbVie were worth $19,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Weaver Consulting Group bought a new position in AbbVie in the 1st quarter valued at $25,000. Arbor Wealth Management LLC bought a new position in shares of AbbVie during the 2nd quarter worth $28,000. Horrell Capital Management Inc. bought a new position in shares of AbbVie during the 2nd quarter worth $33,000. Capital Financial Planning LLC purchased a new stake in shares of AbbVie during the 4th quarter worth $41,000. Finally, TD Capital Management LLC purchased a new stake in shares of AbbVie during the 2nd quarter worth $33,000. 68.14% of the stock is owned by hedge funds and other institutional investors.
NYSE:ABBV traded up $0.25 during trading hours on Friday, reaching $73.63. 6,577,364 shares of the company traded hands, compared to its average volume of 7,846,677. AbbVie Inc has a 1-year low of $62.66 and a 1-year high of $94.98. The stock has a market cap of $108.86 billion, a P/E ratio of 9.31, a P/E/G ratio of 1.50 and a beta of 0.99. The firm’s 50-day moving average is $70.42 and its 200-day moving average is $73.88.
The business also recently disclosed a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $1.07 dividend. This represents a yield of 6.4%. The ex-dividend date is Friday, October 11th. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.
A number of equities research analysts have commented on the company. Svb Leerink upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price target for the company in a research note on Wednesday, June 26th. Citigroup raised AbbVie from a “neutral” rating to a “buy” rating and raised their price objective for the company from $87.00 to $90.00 in a report on Thursday, September 26th. UBS Group upgraded AbbVie from a “neutral” rating to a “buy” rating and decreased their target price for the company from $85.00 to $79.00 in a research report on Thursday, September 12th. TheStreet downgraded AbbVie from a “b-” rating to a “c” rating in a research report on Monday, August 26th. Finally, Wolfe Research raised AbbVie from an “underperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $89.97.
In other AbbVie news, major shareholder Istar Inc. acquired 40,000 shares of AbbVie stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of $28.52 per share, with a total value of $1,140,800.00. Also, Vice Chairman Laura J. Schumacher acquired 25,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were bought at an average cost of $70.42 per share, with a total value of $1,760,500.00. Following the transaction, the insider now directly owns 164,838 shares of the company’s stock, valued at approximately $11,607,891.96. The disclosure for this purchase can be found here. Insiders acquired 183,077 shares of company stock worth $10,705,751 over the last three months. 0.08% of the stock is currently owned by corporate insiders.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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