VeraBank N.A. Lowers Position in AbbVie Inc (NYSE:ABBV)

VeraBank N.A. cut its holdings in AbbVie Inc (NYSE:ABBV) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,960 shares of the company’s stock after selling 210 shares during the quarter. VeraBank N.A.’s holdings in AbbVie were worth $724,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund boosted its position in shares of AbbVie by 4,385.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 15,195,586 shares of the company’s stock worth $165,000 after acquiring an additional 14,856,786 shares in the last quarter. Portfolio Solutions LLC acquired a new position in shares of AbbVie during the fourth quarter worth $46,000. Cibc Bank USA lifted its holdings in shares of AbbVie by 3.1% during the fourth quarter. Cibc Bank USA now owns 49,622 shares of the company’s stock worth $4,575,000 after purchasing an additional 1,494 shares during the period. CNB Bank lifted its holdings in shares of AbbVie by 5.8% during the fourth quarter. CNB Bank now owns 9,489 shares of the company’s stock worth $875,000 after purchasing an additional 517 shares during the period. Finally, Cornell Pochily Investment Advisors Inc. lifted its holdings in shares of AbbVie by 1.3% during the fourth quarter. Cornell Pochily Investment Advisors Inc. now owns 64,835 shares of the company’s stock worth $5,977,000 after purchasing an additional 824 shares during the period. 68.52% of the stock is owned by institutional investors.

In related news, EVP William J. Chase purchased 30,400 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was purchased at an average cost 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 in the company, valued at approximately $11,410,849.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Roxanne S. Austin purchased 55,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was bought at an average cost of $65.86 per share, with a total value of $3,622,300.00. Following the completion of the purchase, the director now owns 92,114 shares of the company’s stock, valued at approximately $6,066,628.04. The disclosure for this purchase can be found here. Insiders have purchased 136,900 shares of company stock valued at $9,126,370 in the last three months. 0.08% of the stock is owned by insiders.

NYSE ABBV traded down $0.45 during mid-day trading on Friday, reaching $65.35. 9,652,379 shares of the stock were exchanged, compared to its average volume of 11,007,136. AbbVie Inc has a one year low of $65.03 and a one year high of $100.23. The company has a 50 day moving average of $71.69. The stock has a market cap of $97.27 billion, a PE ratio of 8.26, a P/E/G ratio of 1.57 and a beta of 0.96.

AbbVie (NYSE:ABBV) last announced 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 net margin of 12.62% and a negative return on equity of 198.18%. The business had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.09 billion. During the same quarter last year, the firm earned $2.00 earnings per share. AbbVie’s quarterly revenue was down .3% on a year-over-year basis. Research analysts expect that AbbVie Inc will post 8.88 earnings per share for the current fiscal year.

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

A number of brokerages have recently commented on ABBV. Svb Leerink upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price target on the stock in a report on Wednesday, June 26th. Piper Jaffray Companies set a $80.00 price target on shares of AbbVie and gave the stock a “hold” rating in a report on Friday, July 26th. BMO Capital Markets upgraded shares of AbbVie from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $71.00 to $79.00 in a report on Sunday, April 28th. ValuEngine lowered shares of AbbVie from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 26th. Finally, Credit Suisse Group set a $78.00 price target on shares of AbbVie and gave the stock a “sell” rating in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. AbbVie has a consensus rating of “Hold” and a consensus price target of $92.05.

AbbVie 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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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