Saturna Capital CORP Sells 1,000 Shares of AbbVie Inc (ABBV)
Saturna Capital CORP trimmed its stake in AbbVie Inc (NYSE:ABBV) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 406,577 shares of the company’s stock after selling 1,000 shares during the period. Saturna Capital CORP’s holdings in AbbVie were worth $37,482,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in ABBV. Capital International Investors grew its position in AbbVie by 266.4% in the third quarter. Capital International Investors now owns 27,594,648 shares of the company’s stock valued at $2,609,902,000 after acquiring an additional 20,063,435 shares during the period. Oregon Public Employees Retirement Fund grew its position in AbbVie by 4,385.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 15,195,586 shares of the company’s stock valued at $165,000 after acquiring an additional 14,856,786 shares during the period. Capital World Investors grew its position in AbbVie by 74.9% in the third quarter. Capital World Investors now owns 25,359,025 shares of the company’s stock valued at $2,398,457,000 after acquiring an additional 10,858,432 shares during the period. Matthew Goff Investment Advisor LLC grew its position in AbbVie by 9,165.1% in the third quarter. Matthew Goff Investment Advisor LLC now owns 2,226,305 shares of the company’s stock valued at $24,029,000 after acquiring an additional 2,202,276 shares during the period. Finally, FMR LLC grew its position in AbbVie by 22.1% in the third quarter. FMR LLC now owns 8,707,454 shares of the company’s stock valued at $823,551,000 after acquiring an additional 1,574,495 shares during the period. Hedge funds and other institutional investors own 70.66% of the company’s stock.
Several brokerages have recently commented on ABBV. Argus cut AbbVie from a “buy” rating to a “hold” rating in a report on Monday, March 25th. UBS Group restated a “neutral” rating and set a $91.00 target price (down previously from $97.00) on shares of AbbVie in a report on Wednesday, January 23rd. Standpoint Research began coverage on AbbVie in a report on Wednesday, December 26th. They set a “buy” rating on the stock. Barclays restated a “hold” rating and set a $86.00 target price on shares of AbbVie in a report on Thursday, February 14th. Finally, ValuEngine cut AbbVie from a “hold” rating to a “sell” rating in a report on Friday, January 25th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. AbbVie currently has an average rating of “Hold” and a consensus price target of $94.48.
Shares of ABBV stock opened at $77.57 on Friday. The firm has a market cap of $114.42 billion, a PE ratio of 9.81, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16. AbbVie Inc has a 52 week low of $75.77 and a 52 week high of $107.25.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 25th. The company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.92 by ($0.02). The business had revenue of $8.31 billion for the quarter, compared to the consensus estimate of $8.37 billion. AbbVie had a negative return on equity of 439.07% and a net margin of 17.36%. AbbVie’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.48 EPS. On average, research analysts expect that AbbVie Inc will post 8.68 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 5.52%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio is 54.11%.
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AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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