Oakbrook Investments LLC grew its holdings in shares of AbbVie Inc (NYSE:ABBV) by 8.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 266,107 shares of the company’s stock after purchasing an additional 20,650 shares during the quarter. AbbVie makes up about 1.2% of Oakbrook Investments LLC’s investment portfolio, making the stock its 23rd biggest position. Oakbrook Investments LLC’s holdings in AbbVie were worth $19,351,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. BB&T Securities LLC lifted its position in AbbVie by 11.1% during the fourth quarter. BB&T Securities LLC now owns 768,870 shares of the company’s stock valued at $70,881,000 after buying an additional 76,644 shares during the period. Hochman Cole Investment Advisors Inc. lifted its position in AbbVie by 1.0% during the fourth quarter. Hochman Cole Investment Advisors Inc. now owns 36,568 shares of the company’s stock valued at $3,371,000 after buying an additional 351 shares during the period. Spinnaker Trust lifted its position in AbbVie by 123.6% during the fourth quarter. Spinnaker Trust now owns 15,637 shares of the company’s stock valued at $1,441,000 after buying an additional 8,645 shares during the period. Financial Gravity Companies Inc. purchased a new position in AbbVie during the fourth quarter valued at $396,000. Finally, Regal Investment Advisors LLC lifted its position in AbbVie by 5.3% during the fourth quarter. Regal Investment Advisors LLC now owns 89,304 shares of the company’s stock valued at $8,233,000 after buying an additional 4,521 shares during the period. 68.36% of the stock is currently owned by institutional investors.

In other AbbVie news, EVP William J. Chase acquired 30,400 shares of AbbVie stock in a transaction that occurred on Wednesday, June 26th. The stock was bought at an average cost of $67.30 per share, for a total transaction of $2,045,920.00. Following the acquisition, the executive vice president now owns 169,552 shares of the company’s stock, valued at $11,410,849.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roxanne S. Austin acquired 11,500 shares of AbbVie stock in a transaction that occurred on Wednesday, June 26th. The stock was acquired at an average price of $67.50 per share, with a total value of $776,250.00. Following the completion of the acquisition, the director now directly owns 52,114 shares in the company, valued at approximately $3,517,695. The disclosure for this purchase can be found here. 0.08% of the stock is currently owned by company insiders.

Several equities analysts have commented on ABBV shares. Wolfe Research raised AbbVie from an “underperform” rating to a “peer perform” rating in a research report on Thursday, June 27th. Credit Suisse Group set a $123.00 price objective on Hershey and gave the company a “hold” rating in a research report on Friday, April 26th. ValuEngine downgraded Yirendai from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 26th. Zacks Investment Research downgraded Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, April 5th. Finally, Svb Leerink upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price target for the company in a report on Wednesday, June 26th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $94.76.

Shares of NYSE:ABBV traded up $1.10 on Friday, hitting $67.76. 12,257,608 shares of the company traded hands, compared to its average volume of 11,250,079. AbbVie Inc has a 52 week low of $65.06 and a 52 week high of $100.23. The business has a 50 day moving average price of $73.24. The company has a market capitalization of $100.17 billion, a P/E ratio of 8.57, a PEG ratio of 1.36 and a beta of 0.98.

AbbVie (NYSE:ABBV) last issued 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. AbbVie had a negative return on equity of 221.09% and a net margin of 16.42%. The firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.09 billion. During the same period last year, the company earned $2.00 earnings per share. The company’s revenue was down .3% on a year-over-year basis. Analysts predict that AbbVie Inc will post 8.82 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a $1.07 dividend. The ex-dividend date is Friday, July 12th. This represents a $4.28 annualized dividend and a yield of 6.32%. AbbVie’s payout ratio is 54.11%.

About AbbVie

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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