Pekin Singer Strauss Asset Management IL trimmed its position in AbbVie Inc (NYSE:ABBV) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,362 shares of the company’s stock after selling 1,222 shares during the quarter. Pekin Singer Strauss Asset Management IL’s holdings in AbbVie were worth $3,462,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Fairfield Bush & CO. acquired a new stake in shares of AbbVie in the first quarter valued at about $146,000. We Are One Seven LLC acquired a new position in AbbVie during the fourth quarter worth about $148,000. First Mercantile Trust Co. acquired a new position in AbbVie during the second quarter worth about $150,000. Centaurus Financial Inc. acquired a new position in AbbVie during the first quarter worth about $153,000. Finally, Wagner Wealth Management LLC acquired a new position in AbbVie during the fourth quarter worth about $154,000. Institutional investors and hedge funds own 69.35% of the company’s stock.

A number of research firms have recently weighed in on ABBV. Berenberg Bank began coverage on shares of AbbVie in a research report on Thursday, July 12th. They issued a “hold” rating and a $105.00 price objective for the company. BMO Capital Markets reissued a “sell” rating and issued a $78.00 price objective on shares of AbbVie in a research report on Friday, July 27th. Cowen set a $110.00 price objective on shares of AbbVie and gave the company a “buy” rating in a research report on Friday, July 27th. Piper Jaffray Companies restated a “hold” rating and issued a $100.00 target price on shares of AbbVie in a report on Friday, July 27th. Finally, ValuEngine downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a report on Friday, June 22nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. AbbVie currently has a consensus rating of “Hold” and an average target price of $107.21.

In related news, EVP Michael Severino sold 50,000 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 111,481 shares of the company’s stock, valued at $10,871,627.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Shares of NYSE ABBV traded up $0.94 during trading on Friday, reaching $90.69. 5,692,147 shares of the stock were exchanged, compared to its average volume of 7,089,003. AbbVie Inc has a twelve month low of $85.24 and a twelve month high of $125.86. The company has a current ratio of 0.80, a quick ratio of 0.71 and a debt-to-equity ratio of -9.06. The stock has a market cap of $143.22 billion, a P/E ratio of 16.19, a PEG ratio of 0.91 and a beta of 1.54.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, July 27th. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.02. AbbVie had a net margin of 20.84% and a return on equity of 362.05%. The business had revenue of $8.28 billion for the quarter, compared to analysts’ expectations of $8.22 billion. During the same period in the previous year, the company posted $1.42 earnings per share. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. On average, research analysts expect that AbbVie Inc will post 7.86 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be issued a $0.96 dividend. The ex-dividend date is Friday, October 12th. This represents a $3.84 annualized dividend and a yield of 4.23%. AbbVie’s dividend payout ratio is presently 68.57%.

AbbVie 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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