AbbVie Inc. $ABBV Shares Purchased by Calamos Advisors LLC

by · The Cerbat Gem

Calamos Advisors LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 406,639 shares of the company’s stock after purchasing an additional 6,746 shares during the quarter. Calamos Advisors LLC’s holdings in AbbVie were worth $106,373,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp lifted its stake in AbbVie by 1.7% in the 2nd quarter. State Street Corp now owns 82,596,748 shares of the company’s stock worth $20,784,646,000 after purchasing an additional 1,379,232 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of AbbVie by 0.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,267,697 shares of the company’s stock worth $3,590,323,000 after purchasing an additional 106,091 shares during the period. Legal & General Group Plc bought a new position in shares of AbbVie in the second quarter worth $2,905,952,000. Deutsche Bank AG raised its position in shares of AbbVie by 13.0% in the second quarter. Deutsche Bank AG now owns 10,772,949 shares of the company’s stock worth $2,710,905,000 after buying an additional 1,241,587 shares in the last quarter. Finally, Amundi raised its position in shares of AbbVie by 2.4% in the first quarter. Amundi now owns 10,698,095 shares of the company’s stock worth $2,326,728,000 after buying an additional 247,689 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $250.00, for a total value of $8,177,500.00. Following the completion of the transaction, the executive vice president directly owned 74,430 shares in the company, valued at approximately $18,607,500. This represents a 30.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Rothschild & Co Redburn boosted their target price on AbbVie from $284.00 to $285.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Leerink Partners lifted their target price on shares of AbbVie from $309.00 to $342.00 and gave the company an “outperform” rating in a research report on Monday, November 2nd. The Goldman Sachs Group increased their price target on shares of AbbVie from $258.00 to $294.00 and gave the stock a “neutral” rating in a report on Friday, October 23rd. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $275.00 price objective on shares of AbbVie in a report on Monday. Finally, Oppenheimer upped their target price on shares of AbbVie from $244.00 to $258.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $297.46.

View Our Latest Stock Analysis on ABBV

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

  • Positive Sentiment: AbbVie’s third-quarter results beat expectations, with revenue of $17.4 billion, and the company raised its full-year adjusted earnings outlook. The earnings report has strengthened the growth case for the shares. AbbVie stock climbs as Q3 earnings fuel growth case
  • Positive Sentiment: A licensing agreement with Nxera Pharma for an EP4 agonist gives AbbVie another potential inflammatory bowel disease treatment candidate. The deal may add to its pipeline as investors assess the durability of its newer growth drivers. Nxera licenses EP4 agonist to AbbVie
  • Positive Sentiment: AbbVie recently reached a fresh high following its earnings beat and a dividend increase, while analysts remain broadly optimistic. This supports investor interest in the stock as a defensive healthcare name. AbbVie’s new growth engines face another test
  • Negative Sentiment: AbbVie’s shares have already climbed substantially and are near their 52-week high, leaving less room for disappointment. Humira’s decline also means the company must continue demonstrating that newer products can sustain growth. The one thing to settle before buying AbbVie stock

AbbVie Trading Up 1.1%

Shares of ABBV traded up $3.27 during mid-day trading on Friday, reaching $291.51. The company’s stock had a trading volume of 5,039,501 shares, compared to its average volume of 5,346,511. AbbVie Inc. has a 52 week low of $190.75 and a 52 week high of $302.93. The stock has a market cap of $515.03 billion, a PE ratio of 50.17, a P/E/G ratio of 1.31 and a beta of 0.20. The company’s fifty day moving average price is $271.98 and its two-hundred day moving average price is $239.04.

AbbVie (NYSE:ABBV – Get Free Report) last released its earnings results on Friday, October 30th. The company reported $3.82 EPS for the quarter, beating the consensus estimate of $3.73 by $0.09. The company had revenue of $17.40 billion for the quarter, compared to analyst estimates of $17.32 billion. AbbVie had a net margin of 15.67% and a negative return on equity of 435.41%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.86 EPS. Research analysts anticipate that AbbVie Inc. will post 13.99 EPS for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 16th. Investors of record on Friday, January 15th will be issued a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.5%. This is an increase from AbbVie’s previous quarterly dividend of $1.73. The ex-dividend date is Friday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 119.10%.

AbbVie Company Profile

(Free Report)

AbbVie is a biopharmaceutical company that discovers, develops and markets medicines for a range of serious health conditions. Its research and product portfolio spans immunology, oncology, neuroscience and other therapeutic areas.

Key products include the immunology medicines Skyrizi and Rinvoq, cancer treatments such as Imbruvica and Venclexta, and neuroscience therapies including Botox and Vraylar. Through its Allergan acquisition, AbbVie also offers aesthetics products such as Botox Cosmetic and Juvéderm.

AbbVie was established in 2013 as a spin-off from Abbott Laboratories and is headquartered in North Chicago, Illinois.

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