ST Germain D J Co. Inc. Cuts Stake in AbbVie Inc (NYSE:ABBV)

ST Germain D J Co. Inc. lowered its stake in shares of AbbVie Inc (NYSE:ABBV) by 8.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,707 shares of the company’s stock after selling 1,205 shares during the period. ST Germain D J Co. Inc.’s holdings in AbbVie were worth $924,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Greenleaf Trust boosted its holdings in AbbVie by 8.1% in the 2nd quarter. Greenleaf Trust now owns 36,179 shares of the company’s stock valued at $2,631,000 after purchasing an additional 2,708 shares during the last quarter. Logan Capital Management Inc. boosted its holdings in AbbVie by 15.6% in the 2nd quarter. Logan Capital Management Inc. now owns 146,761 shares of the company’s stock valued at $10,672,000 after purchasing an additional 19,770 shares during the last quarter. Westside Investment Management Inc. acquired a new position in AbbVie in the 2nd quarter valued at about $305,000. MONECO Advisors LLC boosted its holdings in AbbVie by 5.9% in the 2nd quarter. MONECO Advisors LLC now owns 3,179 shares of the company’s stock valued at $231,000 after purchasing an additional 176 shares during the last quarter. Finally, Shufro Rose & Co. LLC boosted its holdings in AbbVie by 35.9% in the 2nd quarter. Shufro Rose & Co. LLC now owns 3,976 shares of the company’s stock valued at $289,000 after purchasing an additional 1,051 shares during the last quarter. 68.53% of the stock is owned by institutional investors and hedge funds.

Several research firms have weighed in on ABBV. Goldman Sachs Group began coverage on shares of AbbVie in a report on Tuesday, May 28th. They issued a “neutral” rating and a $84.00 target price on the stock. Svb Leerink upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 target price on the stock in a report on Wednesday, June 26th. ValuEngine lowered shares of AbbVie from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 26th. BMO Capital Markets upgraded shares of AbbVie from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $71.00 to $79.00 in a report on Sunday, April 28th. Finally, Credit Suisse Group set a $78.00 target price on shares of AbbVie and gave the company a “sell” rating in a report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $92.05.

ABBV traded down $0.12 during trading hours on Monday, hitting $65.23. 6,024,695 shares of the company’s stock were exchanged, compared to its average volume of 11,007,136. AbbVie Inc has a 12-month low of $65.03 and a 12-month high of $100.23. The stock’s 50 day moving average price is $71.69. The stock has a market cap of $96.61 billion, a price-to-earnings ratio of 8.25, a P/E/G ratio of 1.56 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 the consensus estimate of $2.21 by $0.05. AbbVie had a net margin of 12.62% and a negative return on equity of 198.18%. The firm had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same period in the prior year, the firm earned $2.00 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. As a group, sell-side analysts predict that AbbVie Inc will post 8.88 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 6.56%. The ex-dividend date of this dividend is Friday, July 12th. AbbVie’s dividend payout ratio is presently 54.11%.

In other news, Director Roxanne S. Austin acquired 10,000 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were bought at an average cost of $66.35 per share, with a total value of $663,500.00. Following the transaction, the director now owns 62,114 shares in the company, valued at approximately $4,121,263.90. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Roxanne S. Austin acquired 55,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was purchased at an average cost of $65.86 per share, for a total transaction of $3,622,300.00. Following the completion of the transaction, the director now owns 92,114 shares in the company, valued at approximately $6,066,628.04. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 136,900 shares of company stock worth $9,126,370. Insiders own 0.08% of the company’s stock.

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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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