Wright Investors Service Inc. lessened its holdings in AbbVie Inc (NYSE:ABBV) by 15.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,438 shares of the company’s stock after selling 5,297 shares during the quarter. Wright Investors Service Inc.’s holdings in AbbVie were worth $2,068,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Van Leeuwen & Company LLC lifted its holdings in shares of AbbVie by 4.1% in the 4th quarter. Van Leeuwen & Company LLC now owns 3,296 shares of the company’s stock worth $304,000 after buying an additional 130 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its holdings in shares of AbbVie by 0.3% in the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 44,147 shares of the company’s stock worth $3,210,000 after buying an additional 147 shares during the period. Weatherly Asset Management L. P. lifted its holdings in shares of AbbVie by 1.8% in the 2nd quarter. Weatherly Asset Management L. P. now owns 8,317 shares of the company’s stock worth $605,000 after buying an additional 151 shares during the period. BTIM Corp. lifted its holdings in shares of AbbVie by 0.6% in the 2nd quarter. BTIM Corp. now owns 27,263 shares of the company’s stock worth $1,983,000 after buying an additional 154 shares during the period. Finally, Graves Light Private Wealth Management Inc. lifted its holdings in shares of AbbVie by 2.2% in the 1st quarter. Graves Light Private Wealth Management Inc. now owns 7,181 shares of the company’s stock worth $579,000 after buying an additional 155 shares during the period. 68.15% of the stock is currently owned by institutional investors.
Shares of NYSE ABBV traded down $0.30 during mid-day trading on Thursday, reaching $63.20. 4,340,080 shares of the company were exchanged, compared to its average volume of 10,238,484. The firm has a market capitalization of $95.41 billion, a PE ratio of 7.99, a price-to-earnings-growth ratio of 1.54 and a beta of 0.96. AbbVie Inc has a 1 year low of $63.31 and a 1 year high of $100.23. The business has a 50-day simple moving average of $68.73.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 26th. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.05. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The firm had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.09 billion. During the same period in the prior year, the business posted $2.00 EPS. The firm’s quarterly revenue was down .3% on a year-over-year basis. On average, analysts predict that AbbVie Inc will post 8.88 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 6.77%. The ex-dividend date of this dividend is Friday, July 12th. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.
In other AbbVie news, Director Roxanne S. Austin purchased 11,500 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was bought at an average cost of $67.50 per share, for a total transaction of $776,250.00. Following the completion of the purchase, the director now owns 52,114 shares in the company, valued at approximately $3,517,695. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William J. Chase purchased 30,400 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was acquired at an average price of $67.30 per share, with a total value of $2,045,920.00. Following the completion of the purchase, the executive vice president now owns 169,552 shares of the company’s stock, valued at approximately $11,410,849.60. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 136,900 shares of company stock valued at $9,126,370. 0.08% of the stock is currently owned by company insiders.
A number of brokerages recently weighed in on ABBV. Citigroup restated a “hold” rating on shares of AbbVie in a research note on Wednesday, June 26th. Wolfe Research upgraded AbbVie from an “underperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Piper Jaffray Companies set a $80.00 price objective on AbbVie and gave the stock a “hold” rating in a research note on Friday, July 26th. Credit Suisse Group set a $78.00 price objective on AbbVie and gave the stock a “sell” rating in a research note on Friday, April 26th. Finally, ValuEngine cut AbbVie from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 26th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $92.05.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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