Eagle Asset Management Inc. Has $127.70 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Eagle Asset Management Inc. increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,133,675 shares of the company’s stock after acquiring an additional 20,761 shares during the quarter. Eagle Asset Management Inc.’s holdings in AbbVie were worth $127,697,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Tudor Investment Corp Et Al acquired a new stake in AbbVie during the 1st quarter worth $1,835,000. Schroder Investment Management Group raised its stake in shares of AbbVie by 6.0% in the 1st quarter. Schroder Investment Management Group now owns 1,826,123 shares of the company’s stock valued at $197,623,000 after purchasing an additional 103,972 shares during the period. CLARET ASSET MANAGEMENT Corp raised its stake in shares of AbbVie by 7.1% in the 2nd quarter. CLARET ASSET MANAGEMENT Corp now owns 157,384 shares of the company’s stock valued at $17,728,000 after purchasing an additional 10,455 shares during the period. Crawford Investment Counsel Inc. raised its stake in shares of AbbVie by 5.6% in the 1st quarter. Crawford Investment Counsel Inc. now owns 1,121,058 shares of the company’s stock valued at $121,321,000 after purchasing an additional 59,078 shares during the period. Finally, MML Investors Services LLC raised its stake in shares of AbbVie by 1.7% in the 1st quarter. MML Investors Services LLC now owns 309,313 shares of the company’s stock valued at $33,474,000 after purchasing an additional 5,121 shares during the period. 65.82% of the stock is currently owned by institutional investors and hedge funds.

In other news, SVP Carrie C. Strom sold 5,057 shares of the business’s stock in a transaction that occurred on Monday, August 23rd. The stock was sold at an average price of $120.00, for a total transaction of $606,840.00. Following the completion of the sale, the senior vice president now owns 11,595 shares in the company, valued at $1,391,400. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.09% of the company’s stock.

Several analysts have issued reports on ABBV shares. Daiwa Capital Markets started coverage on AbbVie in a research note on Friday, July 2nd. They issued an “outperform” rating on the stock. Cowen lifted their price target on AbbVie from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, August 23rd. SVB Leerink lowered their target price on AbbVie from $148.00 to $142.00 and set an “outperform” rating on the stock in a research report on Thursday, September 2nd. Morgan Stanley reaffirmed a “buy” rating and issued a $116.00 target price on shares of AbbVie in a research report on Friday, August 20th. Finally, Argus lifted their target price on AbbVie from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $123.47.

AbbVie stock traded down $1.00 during midday trading on Monday, reaching $106.73. 130,381 shares of the company’s stock were exchanged, compared to its average volume of 7,056,520. AbbVie Inc. has a 52 week low of $79.11 and a 52 week high of $121.53. The company has a debt-to-equity ratio of 5.89, a quick ratio of 0.79 and a current ratio of 0.91. The firm has a market cap of $188.61 billion, a price-to-earnings ratio of 28.67, a P/E/G ratio of 2.01 and a beta of 0.82. The stock’s 50-day simple moving average is $115.27 and its 200 day simple moving average is $112.81.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 29th. The company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.02. AbbVie had a return on equity of 154.24% and a net margin of 12.40%. The business had revenue of $13.96 billion during the quarter, compared to analysts’ expectations of $13.64 billion. During the same quarter last year, the company posted $2.34 earnings per share. AbbVie’s quarterly revenue was up 33.9% on a year-over-year basis. Research analysts forecast that AbbVie Inc. will post 12.64 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Stockholders of record on Friday, October 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date is Thursday, October 14th. AbbVie’s dividend payout ratio is presently 49.24%.

AbbVie Profile

AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses 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; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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