Jacobs & Co. CA cut its holdings in AbbVie Inc (NYSE:ABBV) by 4.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 57,559 shares of the company’s stock after selling 2,516 shares during the quarter. Jacobs & Co. CA’s holdings in AbbVie were worth $4,185,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Cohen Lawrence B purchased a new stake in AbbVie in the second quarter valued at about $353,000. DekaBank Deutsche Girozentrale raised its stake in shares of AbbVie by 131.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 903,992 shares of the company’s stock worth $63,756,000 after purchasing an additional 513,424 shares during the last quarter. Sunbelt Securities Inc. raised its stake in shares of AbbVie by 1.9% in the second quarter. Sunbelt Securities Inc. now owns 36,837 shares of the company’s stock worth $2,679,000 after purchasing an additional 702 shares during the last quarter. Clark Estates Inc. NY purchased a new position in shares of AbbVie in the second quarter worth about $3,491,000. Finally, Silver Lake Advisory LLC raised its stake in shares of AbbVie by 1.1% in the second quarter. Silver Lake Advisory LLC now owns 24,480 shares of the company’s stock worth $1,780,000 after purchasing an additional 273 shares during the last quarter. Institutional investors own 68.15% of the company’s stock.
ABBV stock traded down $0.28 during trading on Wednesday, hitting $64.73. 67,356 shares of the company traded hands, compared to its average volume of 7,974,242. The stock’s 50-day moving average is $68.77. The firm has a market capitalization of $96.96 billion, a P/E ratio of 8.19, a PEG 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 business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors 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 yield of 6.61%. The ex-dividend date of this dividend is Friday, July 12th. AbbVie’s dividend payout ratio is currently 54.11%.
In related news, Director Roxanne S. Austin purchased 10,000 shares of AbbVie stock in a transaction that occurred on Tuesday, July 30th. The stock was bought at an average cost of $66.35 per share, for a total transaction of $663,500.00. Following the completion of the transaction, the director now owns 62,114 shares in the company, valued at $4,121,263.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William J. Chase purchased 30,400 shares of AbbVie stock in a transaction that occurred on Wednesday, June 26th. The shares were bought at an average price of $67.30 per share, with a total value of $2,045,920.00. Following the completion of the transaction, the executive vice president now owns 169,552 shares of the company’s stock, valued at approximately $11,410,849.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 136,900 shares of company stock valued at $9,126,370. 0.08% of the stock is owned by company insiders.
ABBV has been the subject of several research analyst reports. Piper Jaffray Companies set a $80.00 price objective on AbbVie and gave the stock a “hold” rating in a research note on Friday, July 26th. 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. Wolfe Research upgraded AbbVie from an “underperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Citigroup restated a “hold” rating on shares of AbbVie in a research note on Wednesday, June 26th. Finally, BMO Capital Markets upgraded AbbVie from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $71.00 to $79.00 in a research note on Sunday, April 28th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. The company 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.
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