Calamos Advisors LLC Has $98.94 Million Stock Position in AbbVie Inc. (NYSE:ABBV)


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Calamos Advisors LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 2.0% during the second quarter, HoldingsChannel.com reports. The firm owned 645,980 shares of the company’s stock after acquiring an additional 12,694 shares during the quarter. Calamos Advisors LLC’s holdings in AbbVie were worth $98,938,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in AbbVie by 2.9% in the first quarter. Vanguard Group Inc. now owns 150,518,780 shares of the company’s stock valued at $24,400,600,000 after purchasing an additional 4,206,711 shares during the last quarter. BlackRock Inc. grew its position in shares of AbbVie by 1.1% during the 1st quarter. BlackRock Inc. now owns 129,630,878 shares of the company’s stock worth $21,014,462,000 after buying an additional 1,433,324 shares during the period. Capital International Investors increased its stake in shares of AbbVie by 162.6% in the 1st quarter. Capital International Investors now owns 30,497,767 shares of the company’s stock valued at $4,943,993,000 after acquiring an additional 18,882,699 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of AbbVie by 2.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,904,988 shares of the company’s stock valued at $1,443,588,000 after acquiring an additional 176,026 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of AbbVie by 14.0% in the 1st quarter. Swiss National Bank now owns 7,657,175 shares of the company’s stock valued at $1,241,305,000 after acquiring an additional 940,300 shares during the period. Institutional investors own 68.25% of the company’s stock.


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Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ABBV. Barclays lowered their target price on shares of AbbVie to $160.00 in a research note on Tuesday, August 9th. Atlantic Securities dropped their price objective on AbbVie from $178.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, August 1st. StockNews.com initiated coverage on AbbVie in a research note on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Piper Sandler dropped their price target on AbbVie from $160.00 to $155.00 in a research report on Friday, July 29th. Finally, Morgan Stanley cut their price objective on AbbVie from $188.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, October 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $158.88.


AbbVie Stock Performance

Shares of ABBV opened at $142.94 on Monday. The stock has a market capitalization of $252.73 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 4.07 and a beta of 0.67. AbbVie Inc. has a 12 month low of $106.86 and a 12 month high of $175.91. The firm has a fifty day simple moving average of $140.28 and a 200 day simple moving average of $147.67. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 4.15.

AbbVie (NYSE:ABBV – Get Rating) last issued its quarterly earnings results on Friday, July 29th. The company reported $3.51 EPS for the quarter, topping the consensus estimate of $3.42 by $0.09. The firm had revenue of $14.58 billion for the quarter, compared to analysts’ expectations of $14.64 billion. AbbVie had a net margin of 22.03% and a return on equity of 158.41%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.11 EPS. Research analysts forecast that AbbVie Inc. will post 14.06 EPS for the current fiscal year.


AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Thursday, October 13th. AbbVie’s dividend payout ratio (DPR) is 79.89%.

About AbbVie

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AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.


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Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV – Get Rating).

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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