Winch Advisory Services LLC lifted its holdings in shares of AbbVie Inc (NYSE:ABBV) by 39.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 572 shares of the company’s stock after acquiring an additional 162 shares during the quarter. Winch Advisory Services LLC’s holdings in AbbVie were worth $42,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Portfolio Solutions LLC purchased a new stake in shares of AbbVie in the 4th quarter valued at approximately $46,000. AGF Investments America Inc. lifted its position in shares of AbbVie by 2.5% in the 4th quarter. AGF Investments America Inc. now owns 32,863 shares of the company’s stock valued at $3,030,000 after acquiring an additional 795 shares in the last quarter. Ffcm LLC lifted its position in shares of AbbVie by 4.3% in the 4th quarter. Ffcm LLC now owns 86,556 shares of the company’s stock valued at $7,980,000 after acquiring an additional 3,555 shares in the last quarter. Highstreet Asset Management Inc. lifted its position in shares of AbbVie by 99.2% in the 4th quarter. Highstreet Asset Management Inc. now owns 20,892 shares of the company’s stock valued at $1,926,000 after acquiring an additional 10,404 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. lifted its position in AbbVie by 1.1% in the 4th quarter. ZWJ Investment Counsel Inc. now owns 29,480 shares of the company’s stock worth $2,718,000 after buying an additional 314 shares in the last quarter. Institutional investors own 70.03% of the company’s stock.
In other news, SVP Jeffrey Ryan Stewart bought 15,552 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were acquired at an average cost of $64.44 per share, for a total transaction of $1,002,170.88. Following the purchase, the senior vice president now owns 65,304 shares of the company’s stock, valued at approximately $4,208,189.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roxanne S. Austin bought 11,500 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was purchased at an average price of $67.50 per share, for a total transaction of $776,250.00. Following the completion of the purchase, the director now directly owns 52,114 shares in the company, valued at approximately $3,517,695. The disclosure for this purchase can be found here. Insiders purchased a total of 152,452 shares of company stock worth $10,128,541 over the last quarter. 0.08% of the stock is currently owned by company insiders.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 26th. The company reported $2.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.05. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.09 billion. During the same quarter in the prior year, the business posted $2.00 EPS. AbbVie’s quarterly revenue was down .3% on a year-over-year basis. As a group, equities research analysts forecast that AbbVie Inc will post 8.88 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were paid a $1.07 dividend. The ex-dividend date of this dividend was Friday, July 12th. This represents a $4.28 dividend on an annualized basis and a yield of 6.49%. AbbVie’s payout ratio is presently 54.11%.
A number of equities research analysts have issued reports on the stock. ValuEngine downgraded shares of AbbVie from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 26th. Svb Leerink upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 target price for the company in a research report on Wednesday, June 26th. Piper Jaffray Companies upgraded shares of AbbVie from a “neutral” rating to an “overweight” rating and set a $80.00 target price for the company in a research report on Tuesday, August 20th. BMO Capital Markets upgraded shares of AbbVie from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $71.00 to $79.00 in a research report on Sunday, April 28th. Finally, Citigroup reiterated a “hold” rating on shares of AbbVie in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $92.05.
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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