Jacobs & Co. CA Decreases Stock Position in AbbVie Inc (NYSE:ABBV)

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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.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 26th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.05. The company had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.09 billion. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. AbbVie’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the business earned $2.00 earnings per share. As a group, sell-side analysts forecast that AbbVie Inc will post 8.88 EPS for the current year.

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 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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