Beaumont Financial Partners LLC raised its position in AbbVie Inc (NYSE:ABBV) by 12.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,015 shares of the company’s stock after purchasing an additional 792 shares during the quarter. Beaumont Financial Partners LLC’s holdings in AbbVie were worth $664,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of ABBV. Jennison Associates LLC grew its stake in AbbVie by 85.3% in the 4th quarter. Jennison Associates LLC now owns 11,353,745 shares of the company’s stock worth $1,098,021,000 after acquiring an additional 5,227,056 shares in the last quarter. BlackRock Inc. boosted its stake in shares of AbbVie by 2.8% during the fourth quarter. BlackRock Inc. now owns 101,322,201 shares of the company’s stock valued at $9,798,871,000 after purchasing an additional 2,714,857 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in shares of AbbVie during the fourth quarter valued at approximately $135,027,000. Swedbank bought a new position in shares of AbbVie during the fourth quarter valued at approximately $130,841,000. Finally, SG Americas Securities LLC boosted its stake in shares of AbbVie by 139.6% during the fourth quarter. SG Americas Securities LLC now owns 351,888 shares of the company’s stock valued at $34,031,000 after purchasing an additional 1,239,877 shares in the last quarter. 69.42% of the stock is currently owned by institutional investors.
AbbVie opened at $94.96 on Thursday, MarketBeat Ratings reports. The company has a market capitalization of $153.99 billion, a PE ratio of 16.96, a P/E/G ratio of 0.90 and a beta of 1.61. AbbVie Inc has a 1 year low of $69.38 and a 1 year high of $125.86. 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Investors of record on Friday, July 13th will be paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 4.04%. The ex-dividend date is Thursday, July 12th. AbbVie’s payout ratio is currently 68.57%.
In other AbbVie news, Director Glenn F. Tilton bought 5,400 shares of the business’s stock in a transaction that occurred on Wednesday, June 27th. The shares were purchased at an average cost of $91.90 per share, with a total value of $496,260.00. Following the purchase, the director now directly owns 39,735 shares in the company, valued at $3,651,646.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Timothy J. Richmond sold 17,588 shares of the business’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $99.47, for a total transaction of $1,749,478.36. The disclosure for this sale can be found here. 0.07% of the stock is owned by corporate insiders.
A number of equities analysts have recently issued reports on ABBV shares. Deutsche Bank downgraded shares of AbbVie from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $125.86 to $65.61 in a research note on Wednesday, May 30th. Deutsche Bank downgraded shares of AbbVie from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $125.86 to $65.61 in a research note on Wednesday, May 30th. Goldman Sachs Group downgraded shares of AbbVie from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, May 24th. Piper Jaffray Companies downgraded shares of AbbVie from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $125.86 to $66.62 in a research note on Friday, June 1st. Finally, Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research note on Wednesday, June 27th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $105.85.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for 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.
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