MRJ Capital Inc. Sells 1,138 Shares of AbbVie Inc (ABBV)

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MRJ Capital Inc. lessened its holdings in AbbVie Inc (NYSE:ABBV) by 2.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,562 shares of the company’s stock after selling 1,138 shares during the quarter. AbbVie comprises 2.2% of MRJ Capital Inc.’s portfolio, making the stock its 23rd largest position. MRJ Capital Inc.’s holdings in AbbVie were worth $4,036,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Keeler Thomas Management LLC grew its holdings in shares of AbbVie by 104.2% during the second quarter. Keeler Thomas Management LLC now owns 5,488 shares of the company’s stock valued at $508,000 after buying an additional 2,800 shares during the last quarter. D.A. Davidson & CO. grew its holdings in shares of AbbVie by 4.2% during the second quarter. D.A. Davidson & CO. now owns 161,357 shares of the company’s stock valued at $14,950,000 after buying an additional 6,529 shares during the last quarter. Fiera Capital Corp grew its holdings in shares of AbbVie by 2.0% during the second quarter. Fiera Capital Corp now owns 275,995 shares of the company’s stock valued at $25,571,000 after buying an additional 5,449 shares during the last quarter. Barrett Asset Management LLC grew its holdings in shares of AbbVie by 0.6% during the second quarter. Barrett Asset Management LLC now owns 372,638 shares of the company’s stock valued at $34,525,000 after buying an additional 2,277 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of AbbVie by 271.2% during the second quarter. Victory Capital Management Inc. now owns 161,634 shares of the company’s stock valued at $14,975,000 after buying an additional 118,089 shares during the last quarter. Institutional investors and hedge funds own 69.37% of the company’s stock.

Shares of ABBV stock opened at $95.68 on Friday. AbbVie Inc has a 12-month low of $83.19 and a 12-month high of $125.86. The company has a debt-to-equity ratio of -9.06, a quick ratio of 0.71 and a current ratio of 0.80. The company has a market capitalization of $141.19 billion, a P/E ratio of 13.79, a P/E/G ratio of 0.85 and a beta of 1.54.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 27th. The company reported $2.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.02. AbbVie had a net margin of 20.84% and a return on equity of 362.05%. The business had revenue of $8.28 billion for the quarter, compared to the consensus estimate of $8.22 billion. During the same period last year, the firm earned $1.42 earnings per share. The company’s quarterly revenue was up 19.2% on a year-over-year basis. equities analysts predict that AbbVie Inc will post 7.86 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, October 15th will be given a $0.96 dividend. The ex-dividend date is Friday, October 12th. This represents a $3.84 annualized dividend and a yield of 4.01%. AbbVie’s payout ratio is presently 68.57%.

In other AbbVie news, EVP Michael Severino sold 50,000 shares of the stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $97.52, for a total value of $4,876,000.00. Following the transaction, the executive vice president now directly owns 111,481 shares in the company, valued at $10,871,627.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Glenn F. Tilton purchased 5,400 shares of the firm’s stock in a transaction on Wednesday, June 27th. The stock was acquired at an average price of $91.90 per share, for a total transaction of $496,260.00. Following the completion of the transaction, the director now directly owns 39,735 shares of the company’s stock, valued at approximately $3,651,646.50. The disclosure for this purchase can be found here. 0.07% of the stock is currently owned by company insiders.

A number of research firms have recently commented on ABBV. Bank of America increased their price target on shares of AbbVie from $105.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, August 22nd. BMO Capital Markets restated a “sell” rating and issued a $78.00 target price on shares of AbbVie in a report on Wednesday, August 22nd. Piper Jaffray Companies restated a “hold” rating and issued a $100.00 target price on shares of AbbVie in a report on Friday, July 27th. Cowen set a $110.00 target price on shares of AbbVie and gave the stock a “buy” rating in a report on Friday, July 27th. Finally, Jefferies Financial Group set a $100.00 target price on shares of AbbVie and gave the stock a “buy” rating in a report on Sunday, July 15th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. AbbVie presently has a consensus rating of “Hold” and an average price target of $106.31.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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