CWM LLC lifted its stake in AbbVie Inc (NYSE:ABBV) by 36.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,248 shares of the company’s stock after acquiring an additional 22,598 shares during the quarter. CWM LLC’s holdings in AbbVie were worth $7,898,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ABBV. Cornerstone Wealth Management LLC grew its holdings in AbbVie by 8,774.3% during the second quarter. Cornerstone Wealth Management LLC now owns 1,102,183 shares of the company’s stock worth $11,837,000 after acquiring an additional 1,089,763 shares during the period. Lynch & Associates IN grew its holdings in AbbVie by 1.8% during the second quarter. Lynch & Associates IN now owns 60,094 shares of the company’s stock worth $5,568,000 after acquiring an additional 1,037 shares during the period. Highbridge Capital Management LLC grew its holdings in AbbVie by 2,285.6% during the first quarter. Highbridge Capital Management LLC now owns 120,206 shares of the company’s stock worth $11,377,000 after acquiring an additional 125,706 shares during the period. Kiwi Wealth Investments Limited Partnership grew its holdings in AbbVie by 10.9% during the first quarter. Kiwi Wealth Investments Limited Partnership now owns 136,087 shares of the company’s stock worth $12,881,000 after acquiring an additional 13,379 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its holdings in AbbVie by 48.5% during the second quarter. Steward Partners Investment Advisory LLC now owns 91,911 shares of the company’s stock worth $8,516,000 after acquiring an additional 30,014 shares during the period. Hedge funds and other institutional investors own 69.37% of the company’s stock.

NYSE:ABBV traded down $0.65 on Friday, hitting $95.68. 3,409,971 shares of the stock were exchanged, compared to its average volume of 3,819,906. The firm has a market capitalization of $141.19 billion, a PE ratio of 13.79, a P/E/G ratio of 0.85 and a beta of 1.54. The company has a debt-to-equity ratio of -9.06, a current ratio of 0.80 and a quick ratio of 0.71. AbbVie Inc has a fifty-two week low of $83.19 and a fifty-two week high of $125.86.

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

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Friday, October 12th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.01%. AbbVie’s dividend payout ratio (DPR) is currently 68.57%.

In related news, Director Glenn F. Tilton bought 5,400 shares of the stock in a transaction dated 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 purchase, the director now owns 39,735 shares in the company, valued at $3,651,646.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael Severino sold 50,000 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now owns 111,481 shares of the company’s stock, valued at approximately $10,871,627.12. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by company insiders.

A number of analysts have commented on ABBV shares. BMO Capital Markets decreased their target price on AbbVie from $81.00 to $78.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 23rd. Goldman Sachs Group downgraded AbbVie from a “conviction-buy” rating to a “buy” rating in a research report on Thursday, May 24th. Credit Suisse Group downgraded AbbVie from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $104.00 to $89.00 in a research report on Tuesday, May 29th. Deutsche Bank downgraded AbbVie from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $125.86 to $65.61 in a research report on Wednesday, May 30th. Finally, Deutsche Bank downgraded AbbVie from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $125.86 to $65.61 in a research report on Wednesday, May 30th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $106.31.

About AbbVie

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.

Further Reading: Exchange-Traded Funds (ETFs)

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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