AbbVie Inc. (NYSE:ABBV) Issues FY17 Earnings Guidance

Modesto Morganelli
Novembre 14, 2017

Legal & General Group Plc boosted its stake in shares of AbbVie by 1.7% in the second quarter. Its stake was valued at $687,591,000 an increase of $123,944,000 as of quarter end. Common Stock went from $38,051,000 to $46,239,000 a change of $8,188,000 quarter to quarter. State Board of Administration of Florida Retirement System owned approximately 0.15% of AbbVie worth $168,988,000 as of its most recent SEC filing.

Several large investors have recently bought and sold shares of the company. Td Asset Management Inc reduced its investment by shedding 4,842 shares a decrease of 0.7% in the quarter.

BlackRock Group LTD cut its position in AbbVie Inc. Schwab Charles Investment Management Inc. now owns 5,226,116 shares of the company's stock valued at $378,946,000 after purchasing an additional 89,442 shares during the period. Tradewinds Capital Management LLC lifted its holdings in AbbVie by 87.2% during the 1st quarter.

The company is down since yesterday's close of 95.43. Finally, Exane Asset Management acquired a new position in AbbVie during the 2nd quarter worth about $181,000. The institutional investor owned 2,330,550 shares of the company's stock after selling 14,896 shares during the period.

TRADEMARK VIOLATION NOTICE: "AbbVie Inc. (ABBV) Shares Bought by National Planning Corp" was published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this report on another publication, it was stolen and reposted in violation of United States and global copyright and trademark laws. The original version of this story can be read at https://www.dispatchtribunal.com/2017/11/13/abbvie-inc-abbv-stake-lifted-by-national-planning-corp.html. JPMorgan Chase & Co. cut shares of AbbVie from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $75.00 to $73.00 in a research note on Thursday, September 8th. SunTrust Banks, Inc. reiterated a "buy" rating and set a $95.00 price objective on shares of AbbVie in a research note on Wednesday, September 13th. BidaskClub lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 28th. BMO Capital Markets released research on ABBV with a rating of "Hold" and price target of $66.00. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. 9,842,567 shares of the stock were exchanged. The stock was sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the transaction, the vice president now owns 10,007 shares in the company, valued at approximately $880,616. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Common Stock of late if you take note of the fall in short interest. The total value of its holdings increased 11.0%. Following the transaction, the senior vice president now owns 93,099 shares in the company, valued at approximately $7,915,276.98. The disclosure for this sale can be found here. Also, insider Henry O. Gosebruch sold 18,300 shares of the stock in a transaction dated Monday, October 30th.

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The stock had a trading volume of 6,170,100 shares, compared to its average volume of 6,254,326. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. The stock has a market cap of $91.02 billion, a price-to-earnings ratio of 15.11 and a beta of 1.55.

AbbVie Inc. has a 52-week low of $50.71 and a 52-week high of $68.12.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, October 27th. In the latest earnings report the EPS was $4.14 with 1.60B shares now outstanding. AbbVie had a return on equity of 164.49% and a net margin of 24.08%. The firm earned $6.43 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter last year, the business posted $1.21 EPS. analysts expect that AbbVie Inc. will post 5.55 EPS for the current fiscal year. The business's revenue was up 8.8% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Friday, January 12th will be issued a $0.71 dividend. The ex-dividend date is Thursday, January 11th.

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