Nippon Life Global Investors Americas Inc. Has $6,754,000 Position in AbbVie Inc. (ABBV)
Nippon Life Global Investors Americas Inc. maintained its stake in shares of AbbVie Inc. (NYSE:ABBV) during the first quarter, according to its most recent disclosure with the SEC. The firm owned 103,660 shares of the company’s stock at the end of the first quarter. Nippon Life Global Investors Americas Inc.’s holdings in AbbVie were worth $6,754,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. Lincoln Capital Corp acquired a new stake in shares of AbbVie during the fourth quarter worth approximately $3,457,000. Dodge & Cox acquired a new stake in shares of AbbVie during the fourth quarter worth approximately $2,081,000. Access Financial Services Inc. acquired a new stake in shares of AbbVie during the fourth quarter worth approximately $1,329,000. Aristotle Capital Management LLC boosted its stake in shares of AbbVie by 4.2% in the fourth quarter. Aristotle Capital Management LLC now owns 4,371,904 shares of the company’s stock worth $273,768,000 after buying an additional 176,116 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of AbbVie during the fourth quarter worth approximately $137,000. Hedge funds and other institutional investors own 67.89% of the company’s stock.
Shares of AbbVie Inc. (ABBV) traded up 0.27% during trading on Friday, reaching $70.63. The company’s stock had a trading volume of 3,248,300 shares. AbbVie Inc. has a 12-month low of $55.06 and a 12-month high of $75.04. The stock has a market capitalization of $112.59 billion, a PE ratio of 17.37 and a beta of 1.50. The firm’s 50-day moving average is $72.05 and its 200-day moving average is $66.76.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.02. The company had revenue of $6.94 billion for the quarter, compared to the consensus estimate of $6.93 billion. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.26 earnings per share. Equities analysts expect that AbbVie Inc. will post $5.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 3.62%. The ex-dividend date is Wednesday, July 12th. AbbVie’s dividend payout ratio is presently 62.90%.
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ABBV has been the topic of a number of analyst reports. Vetr cut shares of AbbVie from a “buy” rating to a “hold” rating and set a $76.28 price target on the stock. in a research note on Thursday, July 20th. Leerink Swann reiterated a “market perform” rating on shares of AbbVie in a research note on Thursday, June 22nd. Deutsche Bank AG reiterated a “hold” rating and issued a $66.00 price target (up previously from $65.00) on shares of AbbVie in a research note on Monday, July 17th. Jefferies Group LLC reiterated a “buy” rating and issued a $94.00 price target (up previously from $92.00) on shares of AbbVie in a research note on Monday, July 17th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $74.00 price target (up previously from $65.00) on shares of AbbVie in a research note on Thursday, July 20th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. AbbVie has a consensus rating of “Buy” and an average target price of $74.66.
In other AbbVie news, EVP Carlos Alban sold 45,800 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $70.00, for a total value of $3,206,000.00. Following the completion of the sale, the executive vice president now owns 160,545 shares of the company’s stock, valued at $11,238,150. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Richard A. Gonzalez sold 65,861 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $71.00, for a total value of $4,676,131.00. Following the completion of the sale, the chief executive officer now directly owns 342,353 shares of the company’s stock, valued at approximately $24,307,063. The disclosure for this sale can be found here. In the last three months, insiders sold 600,026 shares of company stock valued at $41,852,724. Corporate insiders own 0.23% of the company’s stock.
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. 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 virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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