Neuberger Berman Group LLC lessened its stake in shares of AbbVie Inc (NYSE:ABBV) by 18.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 602,168 shares of the company’s stock after selling 138,433 shares during the period. Neuberger Berman Group LLC’s holdings in AbbVie were worth $57,053,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the business. Breiter Capital Management Inc. bought a new stake in AbbVie during the first quarter valued at about $380,000. Stevens Capital Management LP bought a new stake in AbbVie during the first quarter valued at about $14,242,000. HMS Capital Management LLC grew its holdings in AbbVie by 3.7% during the first quarter. HMS Capital Management LLC now owns 14,220 shares of the company’s stock valued at $1,346,000 after purchasing an additional 506 shares during the period. Gerber Kawasaki Wealth & Investment Management bought a new stake in AbbVie during the first quarter valued at about $275,000. Finally, Lakeview Capital Partners LLC grew its holdings in AbbVie by 31.5% during the first quarter. Lakeview Capital Partners LLC now owns 4,951 shares of the company’s stock valued at $469,000 after purchasing an additional 1,187 shares during the period. 69.40% of the stock is owned by institutional investors and hedge funds.
Get AbbVie alerts:
In related news, SVP Timothy J. Richmond sold 17,588 shares of the business’s stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $99.47, for a total value of $1,749,478.36. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Edward J. Rapp bought 1,013 shares of the firm’s stock in a transaction that occurred on Wednesday, June 20th. The stock was purchased at an average price of $98.63 per share, for a total transaction of $99,912.19. The disclosure for this purchase can be found here. 0.07% of the stock is currently owned by insiders.
NYSE:ABBV opened at $93.49 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.10 and a debt-to-equity ratio of 8.70. The stock has a market capitalization of $151.63 billion, a P/E ratio of 16.69, a PEG ratio of 0.89 and a beta of 1.61. AbbVie Inc has a 12 month low of $69.38 and a 12 month high of $125.86.
AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, April 26th. The company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.08. The company had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $7.60 billion. AbbVie had a return on equity of 186.47% and a net margin of 21.55%. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.28 earnings per share. equities research analysts anticipate that AbbVie Inc will post 7.8 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Investors of record on Friday, July 13th will be given a $0.96 dividend. The ex-dividend date is Thursday, July 12th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.11%. AbbVie’s dividend payout ratio is currently 68.57%.
Several analysts have issued reports on ABBV shares. BMO Capital Markets cut their price target on AbbVie from $95.00 to $80.00 and set an “underperform” rating for the company in a report on Friday, March 23rd. Jefferies Financial Group set a $125.00 price target on AbbVie and gave the company a “buy” rating in a report on Friday, March 23rd. Deutsche Bank lowered AbbVie from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $125.86 to $65.61 in a research note on Wednesday, May 30th. Credit Suisse Group dropped their price objective on AbbVie from $109.00 to $98.10 and set a “neutral” rating for the company in a research note on Friday, March 23rd. Finally, Piper Jaffray Companies lowered AbbVie from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $125.86 to $66.62 in a research note on Friday, June 1st. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $106.51.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc (NYSE:ABBV).