Winch Advisory Services LLC Acquires 162 Shares of AbbVie Inc (NYSE:ABBV)

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.

Shares of ABBV traded down $1.55 during mid-day trading on Friday, hitting $65.97. 7,180,763 shares of the company’s stock were exchanged, compared to its average volume of 9,558,582. The firm has a fifty day moving average of $67.51 and a two-hundred day moving average of $76.08. AbbVie Inc has a twelve month low of $62.66 and a twelve month high of $98.70. The stock has a market cap of $99.83 billion, a price-to-earnings ratio of 8.34, a P/E/G ratio of 1.61 and a beta of 0.96.

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 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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