Whittier Trust Co. lessened its stake in shares of AbbVie Inc (NYSE:ABBV) by 0.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 160,686 shares of the company’s stock after selling 206 shares during the period. Whittier Trust Co.’s holdings in AbbVie were worth $11,685,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Weaver Consulting Group bought a new position in AbbVie in the first quarter worth approximately $25,000. Prime Capital Investment Advisors LLC bought a new position in AbbVie in the fourth quarter worth approximately $27,000. Arbor Wealth Management LLC bought a new position in AbbVie in the second quarter worth approximately $28,000. Penserra Capital Management LLC bought a new position in AbbVie in the fourth quarter worth approximately $32,000. Finally, Lowe Wealth Advisors LLC grew its stake in AbbVie by 206.7% in the second quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 310 shares in the last quarter. 68.52% of the stock is owned by institutional investors and hedge funds.
NYSE ABBV traded down $0.45 during midday trading on Friday, hitting $65.35. 9,652,379 shares of the company traded hands, compared to its average volume of 10,351,799. The stock has a market capitalization of $96.61 billion, a P/E ratio of 8.26, a PEG ratio of 1.59 and a beta of 0.96. The firm has a 50-day simple moving average of $71.69. AbbVie Inc has a 52 week low of $65.03 and a 52 week high of $100.23.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a dividend of $1.07 per share. The ex-dividend date is Friday, July 12th. This represents a $4.28 annualized dividend and a yield of 6.55%. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.
Several research analysts recently issued reports on the company. 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 objective on the stock. ValuEngine cut AbbVie from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 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. Wolfe Research raised AbbVie from an “underperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Finally, BMO Capital Markets raised AbbVie from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $71.00 to $79.00 in a research note on Sunday, April 28th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $92.05.
In other AbbVie news, Director Roxanne S. Austin acquired 11,500 shares of the stock in a transaction dated Wednesday, June 26th. The stock was purchased at an average price of $67.50 per share, with a total value of $776,250.00. Following the transaction, the director now directly owns 52,114 shares of the company’s stock, valued at $3,517,695. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP William J. Chase acquired 30,400 shares of the stock in a transaction dated Wednesday, June 26th. The stock was acquired at an average cost of $67.30 per share, with a total value of $2,045,920.00. Following the transaction, the executive vice president now directly owns 169,552 shares in the company, valued at $11,410,849.60. The disclosure for this purchase can be found here. Insiders have acquired a total of 136,900 shares of company stock worth $9,126,370 in the last ninety days. Insiders own 0.08% of the company’s stock.
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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