215,845 Shares in AbbVie Inc. (ABBV) Acquired by SkyBridge Capital II LLC
SkyBridge Capital II LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 215,845 shares of the company’s stock, valued at approximately $13,363,000. AbbVie makes up approximately 3.5% of SkyBridge Capital II LLC’s holdings, making the stock its 9th largest position.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Orbis Allan Gray Ltd acquired a new stake in AbbVie during the first quarter worth about $281,766,000. Ameriprise Financial Inc. boosted its position in AbbVie by 52.4% in the second quarter. Ameriprise Financial Inc. now owns 10,364,784 shares of the company’s stock worth $641,739,000 after buying an additional 3,562,980 shares in the last quarter. Bank of Montreal Can bought a new position in AbbVie during the second quarter worth $93,942,000. ING Groep NV bought a new position in AbbVie during the second quarter worth $83,166,000. Finally, AXA boosted its position in AbbVie by 74.3% in the first quarter. AXA now owns 3,061,184 shares of the company’s stock worth $174,855,000 after buying an additional 1,304,557 shares in the last quarter. 68.36% of the stock is owned by institutional investors.
Shares of AbbVie Inc. (NYSE:ABBV) traded up 0.29% on Thursday, hitting $61.39. The stock had a trading volume of 1,183,948 shares. The company has a market cap of $99.98 billion, a price-to-earnings ratio of 17.71 and a beta of 1.50. The firm has a 50 day moving average price of $63.75 and a 200-day moving average price of $62.66. AbbVie Inc. has a 52 week low of $45.45 and a 52 week high of $68.12.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 29th. The company reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.06. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. The company had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same quarter last year, the firm earned $1.08 EPS. AbbVie’s revenue for the quarter was up 17.8% compared to the same quarter last year. Analysts anticipate that AbbVie Inc. will post $4.81 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Wednesday, October 12th. AbbVie’s payout ratio is presently 65.71%.
ABBV has been the subject of a number of analyst reports. Vetr cut AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.78 price target for the company. in a report on Thursday, June 23rd. Credit Suisse Group AG restated a “buy” rating on shares of AbbVie in a report on Sunday, July 10th. Argus restated a “buy” rating and issued a $85.00 price target on shares of AbbVie in a report on Monday, August 8th. Jefferies Group restated a “buy” rating on shares of AbbVie in a report on Thursday, August 4th. Finally, Goldman Sachs Group Inc. restated a “buy” rating and issued a $78.00 price target on shares of AbbVie in a report on Thursday, September 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $70.68.
In other news, insider Laura J. Schumacher sold 50,000 shares of AbbVie stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $65.00, for a total transaction of $3,250,000.00. Following the sale, the insider now owns 144,138 shares of the company’s stock, valued at approximately $9,368,970. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.11% of the company’s stock.
AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company operates in pharmaceutical products segment. Its products are focused on treating conditions, such as chronic autoimmune diseases, in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions.
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