Morse Asset Management Inc trimmed its position in shares of AbbVie Inc (NYSE:ABBV) by 1.7% in the second quarter, HoldingsChannel.com reports. The fund owned 11,750 shares of the company’s stock after selling 200 shares during the period. Morse Asset Management Inc’s holdings in AbbVie were worth $854,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. TD Asset Management Inc. boosted its holdings in AbbVie by 1.1% during the 2nd quarter. TD Asset Management Inc. now owns 625,378 shares of the company’s stock valued at $45,477,000 after acquiring an additional 6,931 shares during the period. Westpac Banking Corp boosted its holdings in AbbVie by 5.4% during the 2nd quarter. Westpac Banking Corp now owns 179,697 shares of the company’s stock valued at $13,068,000 after acquiring an additional 9,238 shares during the period. Wedbush Securities Inc. boosted its holdings in AbbVie by 5.1% during the 2nd quarter. Wedbush Securities Inc. now owns 63,865 shares of the company’s stock valued at $4,644,000 after acquiring an additional 3,100 shares during the period. Blue Chip Partners Inc. boosted its holdings in AbbVie by 8.2% during the 2nd quarter. Blue Chip Partners Inc. now owns 133,572 shares of the company’s stock valued at $9,713,000 after acquiring an additional 10,071 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its holdings in AbbVie by 37.8% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,463 shares of the company’s stock valued at $106,000 after acquiring an additional 401 shares during the period. Institutional investors own 68.15% of the company’s stock.
Shares of ABBV traded up $0.47 during midday trading on Tuesday, hitting $65.00. The company had a trading volume of 6,226,188 shares, compared to its average volume of 10,463,384. The company has a 50-day moving average price of $69.02. The firm has a market capitalization of $96.96 billion, a price-to-earnings ratio of 8.22, a P/E/G ratio of 1.56 and a beta of 0.96. AbbVie Inc has a 1 year low of $63.31 and a 1 year high of $100.23.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 6.58%. The ex-dividend date is Friday, July 12th. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.
In other AbbVie news, Director Roxanne S. Austin bought 11,500 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were acquired at an average price of $67.50 per share, with a total value of $776,250.00. Following the transaction, the director now owns 52,114 shares of the company’s stock, valued at $3,517,695. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Roxanne S. Austin bought 10,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were acquired at an average cost of $66.35 per share, for a total transaction of $663,500.00. Following the transaction, the director now directly owns 62,114 shares in the company, valued at approximately $4,121,263.90. The disclosure for this purchase can be found here. Insiders have bought a total of 136,900 shares of company stock worth $9,126,370 in the last three months. Corporate insiders own 0.08% of the company’s stock.
Several equities analysts have recently issued reports on the company. Credit Suisse Group set a $78.00 price objective on AbbVie and gave the company a “sell” rating in a research note on Friday, April 26th. BMO Capital Markets upgraded AbbVie from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $71.00 to $79.00 in a research note on Sunday, April 28th. Citigroup reiterated a “hold” rating on shares of AbbVie in a research note on Wednesday, June 26th. ValuEngine cut AbbVie from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 26th. Finally, Svb Leerink upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target 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.
Featured Story: SEC Filing
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc (NYSE:ABBV).
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.