Strategic Advisors LLC Has $505,000 Stake in AbbVie Inc (NYSE:ABBV)

Strategic Advisors LLC decreased its holdings in shares of AbbVie Inc (NYSE:ABBV) by 3.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,956 shares of the company’s stock after selling 238 shares during the quarter. Strategic Advisors LLC’s holdings in AbbVie were worth $505,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Van Leeuwen & Company LLC lifted its stake in AbbVie by 4.1% in the fourth quarter. Van Leeuwen & Company LLC now owns 3,296 shares of the company’s stock valued at $304,000 after buying an additional 130 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its stake in AbbVie by 0.3% in the second quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 44,147 shares of the company’s stock valued at $3,210,000 after buying an additional 147 shares during the period. Marathon Capital Management lifted its stake in AbbVie by 6.6% in the fourth quarter. Marathon Capital Management now owns 2,516 shares of the company’s stock valued at $231,000 after buying an additional 155 shares during the period. Graves Light Private Wealth Management Inc. lifted its stake in AbbVie by 2.2% in the first quarter. Graves Light Private Wealth Management Inc. now owns 7,181 shares of the company’s stock valued at $579,000 after buying an additional 155 shares during the period. Finally, Bangor Savings Bank lifted its stake in AbbVie by 2.3% in the second quarter. Bangor Savings Bank now owns 7,470 shares of the company’s stock valued at $544,000 after buying an additional 171 shares during the period. Institutional investors own 68.52% of the company’s stock.

Several equities analysts have issued reports on the company. Wolfe Research raised AbbVie from an “underperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Goldman Sachs Group assumed coverage on AbbVie in a research note on Tuesday, May 28th. They issued a “neutral” rating and a $84.00 price target on the stock. Piper Jaffray Companies set a $80.00 price target on AbbVie and gave the company a “hold” rating in a research note on Friday, July 26th. Svb Leerink raised AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price target on the stock in a research note on Wednesday, June 26th. Finally, BMO Capital Markets raised AbbVie from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $71.00 to $79.00 in a research note on Sunday, April 28th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $92.05.

In related news, Director Roxanne S. Austin purchased 55,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was acquired at an average cost of $65.86 per share, with a total value of $3,622,300.00. Following the transaction, the director now owns 92,114 shares of the company’s stock, valued at approximately $6,066,628.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William J. Chase purchased 30,400 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was bought at an average cost of $67.30 per share, with a total value of $2,045,920.00. Following the completion of the transaction, the executive vice president now directly owns 169,552 shares in the company, valued at approximately $11,410,849.60. The disclosure for this purchase can be found here. Insiders have bought 136,900 shares of company stock worth $9,126,370 over the last ninety days. 0.08% of the stock is owned by insiders.

Shares of NYSE:ABBV traded down $0.45 during trading on Friday, reaching $65.35. 9,652,379 shares of the stock were exchanged, compared to its average volume of 10,351,799. AbbVie Inc has a 1-year low of $65.03 and a 1-year high of $100.23. The stock has a fifty day moving average price of $71.69. The stock has a market capitalization of $96.61 billion, a price-to-earnings ratio of 8.26, a price-to-earnings-growth ratio of 1.59 and a beta of 0.96.

AbbVie (NYSE:ABBV) last issued its earnings results 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 198.18% and a net margin of 12.62%. The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.09 billion. During the same period in the prior year, the firm earned $2.00 earnings per share. AbbVie’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities research analysts predict that AbbVie Inc will post 8.88 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 6.55%. The ex-dividend date of this dividend is Friday, July 12th. AbbVie’s payout ratio is 54.11%.

About AbbVie

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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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