The Vanguard Group, Inc. recently announced the acquisition of new stake in Abbvie Inc (NYSE:ABBV). The institutional investor has increased its shareholding in the Healthcare company by 0.89% to 153.0 million shares with purchase of 1.35 million shares. This fresh investment now brings its stake to 8.67% valued currently at $21.79 billion. In addition, JPMorgan Investment Management, I raised its holdings by 38493.0 to 38.89 million shares. And Geode Capital Management LLC has lifted its position by 3.59% or 1.25 million shares – to 36.21 million shares.
Currently, there are 1.77B common shares owned by the public and among those 1.76B shares have been available to trade.
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Insiders at the company have transacted a total of 113 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 64 of these insider trades were purchases, accounting for 936,824 shares. Insider sales of the common stock occurred on 49 occasions, with total insider shares sold totaling 771,700 shares.
The top 3 mutual fund holders in Abbvie Inc are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Fidelity 500 Index Fund. Vanguard Total Stock Market ETF owns 55.25 million shares of the company’s stock, all valued at over $7.87 billion. The company bought an additional 0.26 million shares recently to bring their total holdings to about 3.13% of the shares outstanding. Vanguard 500 Index Fund bought 0.2 million shares to see its total holdings expand to 42.62 million shares valued at over $6.07 billion and representing 2.41% of the shares outstanding. Fidelity 500 Index Fund bought 0.16 million shares to bring its total holdings to over 20.44 million shares at a value of $2.91 billion. Fidelity 500 Index Fund now owns shares totaling to 1.16% of the shares outstanding.
However, the script later moved the day high at 154.48, up 0.12%. The company’s stock has a 5-day price change of 0.23% and -0.01% over the past three months. ABBV shares are trading -4.96% year to date (YTD), with the 12-month market performance down to -4.29% lower. It has a 12-month low price of $130.96 and touched a high of $168.11 over the same period. ABBV has an average intraday trading volume of 5.25 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.60%, 6.46%, and 4.53% respectively.
Institutional ownership of Abbvie Inc (NYSE: ABBV) shares accounts for 71.26% of the company’s 1.77B shares outstanding. Mutual fund holders own 32.02%, while other institutional holders and individual stakeholders account for 39.73% and 0.16% respectively.
It has a market capitalization of $271.19B and a beta (3y monthly) value of 0.47. The stock’s trailing 12-month PE ratio is 42.04, while the earnings-per-share (ttm) stands at $3.65. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.55% over the week and 1.55% over the month.
Analysts forecast that Abbvie Inc (ABBV) will achieve an EPS of $2.66 for the current quarter, $2.26 for the next quarter and $10.24 for 2024. The lowest estimate earnings-per-share for the quarter is $2.46 while analysts give the company a high EPS estimate of $2.83. Comparatively, EPS for the current quarter was $3.6 a year ago. Earnings per share for the fiscal year are expected to decrease by -18.53%, and -0.11% over the next financial year. EPS should shrink at an annualized rate of -4.11% over the next five years, compared to 14.96% over the past 5-year period.
