Kanawha Capital Management LLC reduced its stake in AbbVie Inc. (NYSE:ABBV) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 161,895 shares of the company’s stock after selling 2,167 shares during the quarter. AbbVie comprises 2.3% of Kanawha Capital Management LLC’s holdings, making the stock its 9th largest position. Kanawha Capital Management LLC’s holdings in AbbVie were worth $15,657,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ABBV. Jennison Associates LLC acquired a new position in shares of AbbVie during the 3rd quarter worth approximately $544,418,000. Capital International Investors grew its position in shares of AbbVie by 137.7% during the 3rd quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock worth $697,989,000 after purchasing an additional 4,550,954 shares in the last quarter. Vanguard Group Inc. grew its position in shares of AbbVie by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after purchasing an additional 3,706,941 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of AbbVie by 1,949.7% during the 2nd quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock worth $277,967,000 after purchasing an additional 3,646,510 shares in the last quarter. Finally, Orbis Allan Gray Ltd grew its position in shares of AbbVie by 35.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after purchasing an additional 3,340,038 shares in the last quarter. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

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In related news, insider Laura J. Schumacher sold 25,000 shares of AbbVie stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $117.85, for a total transaction of $2,946,250.00. Following the completion of the transaction, the insider now owns 123,317 shares of the company’s stock, valued at $14,532,908.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Carlos Alban sold 83,574 shares of AbbVie stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $114.49, for a total transaction of $9,568,387.26. Following the transaction, the executive vice president now directly owns 133,026 shares of the company’s stock, valued at approximately $15,230,146.74. The disclosure for this sale can be found here. Insiders have sold 211,197 shares of company stock valued at $24,585,575 in the last ninety days. Insiders own 0.23% of the company’s stock.

A number of research analysts have issued reports on the stock. Piper Jaffray Companies increased their target price on shares of AbbVie from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. SunTrust Banks increased their target price on shares of AbbVie to $157.00 and gave the stock an “average” rating in a research report on Monday, January 29th. Leerink Swann lowered shares of AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 price target on the stock. in a research report on Monday, January 29th. BMO Capital Markets lowered shares of AbbVie from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $125.86 to $84.00 in a research report on Monday, January 29th. They noted that the move was a valuation call. Finally, Evercore ISI reiterated a “buy” rating and set a $144.00 price target on shares of AbbVie in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. AbbVie has a consensus rating of “Buy” and a consensus price target of $120.96.

AbbVie stock opened at $113.71 on Monday. The company has a market cap of $180,568.41, a P/E ratio of 34.56, a P/E/G ratio of 1.07 and a beta of 1.52. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.28 and a quick ratio of 1.18. AbbVie Inc. has a 52 week low of $63.12 and a 52 week high of $125.86.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 26th. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.04. The business had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The firm’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.20 EPS. equities analysts expect that AbbVie Inc. will post 7.48 earnings per share for the current year.

AbbVie declared that its Board of Directors has authorized a share repurchase program on Thursday, February 15th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be paid a dividend of $0.96 per share. The ex-dividend date is Thursday, April 12th. This represents a $3.84 annualized dividend and a dividend yield of 3.38%. This is an increase from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s dividend payout ratio (DPR) is presently 86.32%.

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AbbVie 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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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