Independence Bank of Kentucky lowered its holdings in AbbVie Inc (NYSE:ABBV) by 5.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,584 shares of the company’s stock after selling 883 shares during the quarter. Independence Bank of Kentucky’s holdings in AbbVie were worth $1,133,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Mountain Pacific Investment Advisers Inc. ID grew its position in AbbVie by 1.7% during the second quarter. Mountain Pacific Investment Advisers Inc. ID now owns 22,801 shares of the company’s stock valued at $1,658,000 after buying an additional 386 shares during the period. Atlantic Union Bankshares Corp lifted its holdings in AbbVie by 453.0% during the second quarter. Atlantic Union Bankshares Corp now owns 79,101 shares of the company’s stock valued at $5,753,000 after purchasing an additional 64,797 shares in the last quarter. WBI Investments Inc. purchased a new position in AbbVie during the second quarter valued at $5,072,000. Meyer Handelman Co. lifted its holdings in AbbVie by 5.4% during the second quarter. Meyer Handelman Co. now owns 104,681 shares of the company’s stock valued at $7,612,000 after purchasing an additional 5,334 shares in the last quarter. Finally, Strategic Investment Advisors MI lifted its holdings in AbbVie by 38.1% during the second quarter. Strategic Investment Advisors MI now owns 8,054 shares of the company’s stock valued at $586,000 after purchasing an additional 2,222 shares in the last quarter. Hedge funds and other institutional investors own 68.52% of the company’s stock.

Shares of NYSE:ABBV traded up $0.18 during midday trading on Tuesday, hitting $67.36. The company’s stock had a trading volume of 3,672,270 shares, compared to its average volume of 10,793,975. The business’s 50 day moving average is $72.65. The stock has a market cap of $100.17 billion, a P/E ratio of 8.52, a P/E/G ratio of 1.37 and a beta of 0.99. AbbVie Inc has a 12-month low of $65.06 and a 12-month high of $100.23.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 26th. The company reported $2.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.05. The firm had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.09 billion. AbbVie had a net margin of 12.62% and a negative return on equity of 198.18%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the firm posted $2.00 earnings per share. On average, analysts anticipate that AbbVie Inc will post 8.89 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 6.35%. The ex-dividend date is Friday, July 12th. AbbVie’s dividend payout ratio is currently 54.11%.

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

Several equities analysts have issued reports on ABBV shares. Credit Suisse Group set a $123.00 price objective on shares of Hershey and gave the company a “hold” rating in a report on Friday, April 26th. BMO Capital Markets raised shares of AbbVie from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $71.00 to $79.00 in a report on Sunday, April 28th. ValuEngine downgraded shares of Yirendai from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 26th. Leerink Swann raised shares of AbbVie to a “buy” rating in a report on Tuesday, July 2nd. Finally, Goldman Sachs Group set a $27.00 price objective on shares of Melco Resorts & Entertainment and gave the company a “buy” rating in a report on Tuesday, May 28th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $92.05.

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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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