Zeke Capital Advisors LLC Sells 914 Shares of AbbVie Inc (NYSE:ABBV)

Zeke Capital Advisors LLC reduced its stake in AbbVie Inc (NYSE:ABBV) by 2.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 34,382 shares of the company’s stock after selling 914 shares during the quarter. Zeke Capital Advisors LLC’s holdings in AbbVie were worth $2,500,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Weaver Consulting Group bought a new stake in AbbVie during the first quarter worth $25,000. Prime Capital Investment Advisors LLC bought a new stake in AbbVie during the fourth quarter worth $27,000. Arbor Wealth Management LLC bought a new stake in AbbVie during the second quarter worth $28,000. Penserra Capital Management LLC bought a new stake in AbbVie during the fourth quarter worth $32,000. Finally, Lowe Wealth Advisors LLC lifted its stake in AbbVie by 206.7% during 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 during the last quarter. Institutional investors and hedge funds own 68.53% of the company’s stock.

Several equities research analysts have weighed in on the company. Citigroup restated a “hold” rating on shares of AbbVie in a research note on Wednesday, June 26th. Credit Suisse Group set a $78.00 target price on AbbVie and gave the stock a “sell” rating in a research note on Friday, April 26th. Goldman Sachs Group assumed coverage on AbbVie in a research note on Tuesday, May 28th. They set a “neutral” rating and a $84.00 target price for the company. ValuEngine cut AbbVie from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 26th. Finally, Piper Jaffray Companies set a $80.00 target price on AbbVie and gave the stock a “hold” rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $92.05.

In related news, Director Roxanne S. Austin acquired 55,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was acquired at an average cost of $65.86 per share, for a total transaction of $3,622,300.00. Following the completion of the acquisition, the director now directly owns 92,114 shares of the company’s stock, valued at approximately $6,066,628.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William J. Chase acquired 30,400 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was bought at an average price of $67.30 per share, with a total value of $2,045,920.00. Following the completion of the acquisition, the executive vice president now directly owns 169,552 shares of the company’s stock, valued at $11,410,849.60. The disclosure for this purchase can be found here. Insiders purchased 136,900 shares of company stock valued at $9,126,370 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

Shares of NYSE:ABBV traded up $0.13 during trading on Monday, hitting $65.48. 6,246,224 shares of the company were exchanged, compared to its average volume of 11,007,136. The stock has a 50 day simple moving average of $71.69. The firm has a market cap of $96.61 billion, a P/E ratio of 8.28, a P/E/G ratio of 1.56 and a beta of 0.96. AbbVie Inc has a 1-year low of $65.03 and a 1-year high of $100.23.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 26th. The company reported $2.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.21 by $0.05. The business had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.09 billion. AbbVie had a negative return on equity of 198.18% and a net margin of 12.62%. AbbVie’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the business posted $2.00 earnings per share. Equities analysts anticipate that AbbVie Inc will post 8.88 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a $1.07 dividend. The ex-dividend date is Friday, July 12th. This represents a $4.28 dividend on an annualized basis and a yield of 6.54%. AbbVie’s payout ratio is 54.11%.

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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