AbbVie(ABBV) surged out of the gate following its January 2013 spinoff from Abbott Laboratories(ABT). By December 2014, the stock price had doubled. Since then, however, the stock languished, continuing to trade below its December 2014 highs. Despite efforts to diversify, Humira, which is now off patent, accounts for 60% of revenue. Barron’s reports that Raymond James now thinks… Read More »
13F season is always fun as it provides a rare (albeit delayed) glimpse into the thinking of large money managers and hedge funds. Of course, due to the significant time lag (~45 days), the exclusion of certain securities (shorts, derivatives etc.) and varying investment strategies and holding periods, the usefulness of such data is…questionable in many cases. Not… Read More »
Amidst our exhaustive coverage of the Abbott (ABT)/AbbVie (ABBV) separation, there has been no consensus as to which company is the ‘better’ one to own. Some people like AbbVie’s higher dividend yield while others prefer Abbott’s growth prospects. Ahhh what is an uninformed investor to do? Luckily, the self-appointed people’s champion stockpicker, CNBC’s Jim Cramer, has weighed in… Read More »
AbbVie(ABBV) is a behemoth of a company following its spinoff from Abbott Laboratories(ABT), but it is a one-legged giant. The chorus of concern around the companies prospects has centered on its extreme dependence on a single drug, Humira, which accounts for 50% of revenues and 70% of profits. There has been speculation that the firm would use its… Read More »
AbbVie(ABBV) is one of the most massive spinoffs we’ve seen, so every piece of news or analysis is of interest to us. Hence it was with great interest that we noted that Seeking Alpha published “AbbVie’s Shares Are More Appealing Than Abbott’s Following The Spin-Off” this morning. We were pleased to see author Robert Broens put a stake… Read More »
Not wasting any time, AbbVie(ABBV) declared a $.40 quarterly dividend on Friday, two days after its spin off from Abbott Laboratories(ABT). At Friday’s closing price of $34.39, the stock yields 4.65%. The dividend will be paid on February 15, 2013 to shareholders as of the close of business on January 15, 2013. For former Abbott shareholders continuing to… Read More »
On Wednesday, Abbott Laboratories(ABT) completed its spinoff of AbbVie(ABBV), and the two firms began their new, independent lives. As is often the case, as their first acts, each company issued a press release noting the occasion. Abbott’s release was relatively brief, wished AbbVie well, and gave a short picture of the new Abbott, focusing on the company’s many… Read More »
After long preparations, Humira manufacturer AbbVie(ABBV) has been spun off from former parent Abbott Laboratories(ABT). Abbott shareholders will wake up to find one share of AbbVie in their account for every share of Abbott that they own. We have covered the story, but not performed any deep analysis of either company. So let’s hear from you, readers. What… Read More »
Some spinoffs are tiny, others are born big. AbbVie(ABBV) is a case of the latter. With a market cap of over $50 Billion, it begins life as a megacap when it spins off on January 2 from Abbott Laboratories(ABT) and thus replaces the sinking Dell(DELL) in the megacap S&P 100 Index. This was one of several index changes… Read More »
On Friday, Abbott(ABT) announced the effectiveness of the registration statement for its AbbVie(ABBV) spin. As we discussed previously, Abbott shareholders will get one AbbVie share for each Abbott share that they own. The new shares are to be distributed on January 1. Shares in the new company began trading on a when issued basis today, as did Abbott… Read More »
Abbott’s(ABT) spinoff of AbbVie(ABBV) passed its final hurdle yesterday as the Board approved the plan. Shareholders of Abbott at the close of business on December 12 will receive, on January 1, one share of AbbVie for each share of Abbott that they own. The shares are expected to begin trading on the ew York Stock Exchange on January… Read More »
Earlier this month, AbbVie (ABBV) completed a debt offering totaling $14.7 billion, making it the largest high grade offering in U.S history by over $1 billion and the largest of the year by nearly $5 billion. The offering was said to be hugely oversubscribed with word of $47 billion in orders. AbbVie, which will be spun off to… Read More »
After covering Kraft’s (poor) choice in naming its spinoff, we now move onto mocking examining Abbott’s (ABT) choice of the name AbbVie for its new pharmaceuticals company. Sadly, this now means that journalists will have to stop referring to the company as ‘Costello’ which would have been quite the humorous, although ill advised pick. The new name was… Read More »
Abbott Laboratories(ABT) is joining the parade and splitting itself into two. Like many other recent spinners, Abbott is a spinoff veteran, having spun off Hospira(HSP) in 2004. Though at times, even recently, Hospira has traded much higher, on the whole, returns for the two pieces 7 years later have been unimpressive. Hospira is now barely up 10%, and… Read More »