Schnieders Capital Management LLC trimmed its stake in shares of AbbVie Inc (NYSE:ABBV) by 9.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,099 shares of the company’s stock after selling 2,400 shares during the quarter. Schnieders Capital Management LLC’s holdings in AbbVie were worth $1,753,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Northern Trust Corp raised its stake in shares of AbbVie by 1.1% in the fourth quarter. Northern Trust Corp now owns 21,029,665 shares of the company’s stock valued at $1,938,725,000 after acquiring an additional 227,408 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of AbbVie by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 17,582,527 shares of the company’s stock valued at $1,617,957,000 after acquiring an additional 880,288 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of AbbVie by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 15,921,433 shares of the company’s stock valued at $1,467,797,000 after acquiring an additional 41,680 shares during the last quarter. Norges Bank bought a new position in shares of AbbVie in the fourth quarter valued at approximately $1,300,469,000. Finally, FMR LLC raised its stake in shares of AbbVie by 56.5% in the first quarter. FMR LLC now owns 13,200,141 shares of the company’s stock valued at $1,063,799,000 after acquiring an additional 4,765,946 shares during the last quarter. 70.03% of the stock is currently owned by institutional investors.
Shares of ABBV stock traded down $1.55 on Friday, hitting $65.97. The stock had a trading volume of 7,180,763 shares, compared to its average volume of 9,558,582. AbbVie Inc has a twelve month low of $62.66 and a twelve month high of $98.70. The firm has a market cap of $99.83 billion, a P/E ratio of 8.34, a PEG ratio of 1.61 and a beta of 0.96. The company has a fifty day moving average price of $67.51 and a two-hundred day moving average price of $76.08.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $4.28 annualized dividend and a yield of 6.49%. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.
ABBV has been the subject of a number of research analyst reports. 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 note on Tuesday, August 20th. 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 note on Wednesday, June 26th. Citigroup reiterated a “hold” rating on shares of AbbVie in a research note on Wednesday, June 26th. BMO Capital Markets upgraded shares of AbbVie from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $71.00 to $79.00 in a research note on Sunday, April 28th. Finally, ValuEngine cut shares of AbbVie from a “sell” rating to a “strong sell” rating in a research note 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 stock. The company currently has a consensus rating of “Hold” and a consensus target price of $92.05.
In other news, EVP Henry O. Gosebruch bought 30,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were bought at an average cost of $67.28 per share, with a total value of $2,018,400.00. Following the acquisition, the executive vice president now owns 75,763 shares in the company, valued at $5,097,334.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jeffrey Ryan Stewart bought 15,552 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was purchased at an average cost of $64.44 per share, for a total transaction of $1,002,170.88. Following the completion of the acquisition, the senior vice president now owns 65,304 shares in the company, valued at approximately $4,208,189.76. The disclosure for this purchase can be found here. Insiders have acquired a total of 152,452 shares of company stock worth $10,128,541 over the last three months. Insiders own 0.08% of the company’s stock.
AbbVie Company 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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