Hayek Kallen Investment Management lowered its stake in shares of AbbVie Inc (NYSE:ABBV) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,628 shares of the company’s stock after selling 542 shares during the quarter. AbbVie comprises about 2.2% of Hayek Kallen Investment Management’s holdings, making the stock its 17th largest position. Hayek Kallen Investment Management’s holdings in AbbVie were worth $3,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of ABBV. Crescent Grove Advisors LLC grew its holdings in shares of AbbVie by 4.2% during the 1st quarter. Crescent Grove Advisors LLC now owns 12,457 shares of the company’s stock worth $1,179,000 after purchasing an additional 500 shares during the period. Verition Fund Management LLC boosted its holdings in AbbVie by 7.4% in the 1st quarter. Verition Fund Management LLC now owns 7,269 shares of the company’s stock worth $688,000 after acquiring an additional 500 shares during the period. Baxter Bros Inc. boosted its holdings in AbbVie by 19.6% in the 1st quarter. Baxter Bros Inc. now owns 3,049 shares of the company’s stock worth $289,000 after acquiring an additional 500 shares during the period. Hanson & Doremus Investment Management boosted its holdings in AbbVie by 7.4% in the 1st quarter. Hanson & Doremus Investment Management now owns 7,290 shares of the company’s stock worth $690,000 after acquiring an additional 501 shares during the period. Finally, Shepherd Financial Partners LLC boosted its holdings in AbbVie by 1.6% in the 1st quarter. Shepherd Financial Partners LLC now owns 32,803 shares of the company’s stock worth $3,105,000 after acquiring an additional 502 shares during the period. 69.35% of the stock is owned by institutional investors.

In other news, EVP Michael Severino sold 50,000 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $97.52, for a total value of $4,876,000.00. Following the completion of the transaction, the executive vice president now owns 111,481 shares of the company’s stock, valued at $10,871,627.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.07% of the company’s stock.

Several equities analysts have recently commented on the company. Berenberg Bank assumed coverage on AbbVie in a research note on Thursday, July 12th. They set a “hold” rating and a $105.00 target price for the company. BMO Capital Markets reiterated a “sell” rating and set a $78.00 target price on shares of AbbVie in a research note on Friday, July 27th. Cowen set a $110.00 price target on AbbVie and gave the company a “buy” rating in a research report on Friday, July 27th. Piper Jaffray Companies reissued a “hold” rating and set a $100.00 price target on shares of AbbVie in a research report on Friday, July 27th. Finally, ValuEngine lowered AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, June 22nd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $107.21.

NYSE ABBV traded up $0.94 during trading hours on Friday, hitting $90.69. The company had a trading volume of 5,692,147 shares, compared to its average volume of 7,089,003. AbbVie Inc has a fifty-two week low of $85.24 and a fifty-two week high of $125.86. The firm has a market capitalization of $143.22 billion, a PE ratio of 16.19, a P/E/G ratio of 0.91 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 (NYSE:ABBV) last released its quarterly earnings results on Friday, July 27th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.02. AbbVie had a return on equity of 362.05% and a net margin of 20.84%. The company had revenue of $8.28 billion during the quarter, compared to analysts’ expectations of $8.22 billion. During the same quarter in the prior year, the business posted $1.42 earnings per share. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. Equities research analysts expect that AbbVie Inc will post 7.86 earnings per share for the current fiscal year.

The firm also recently declared 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 annualized dividend and a dividend yield of 4.23%. AbbVie’s payout ratio is 68.57%.

AbbVie Company Profile

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, to treat adults with genotype 1 chronic hepatitis C.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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