First Merchants Corp grew its holdings in AbbVie Inc. (NYSE:ABBV) by 0.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 33,301 shares of the company’s stock after buying an additional 250 shares during the quarter. First Merchants Corp’s holdings in AbbVie were worth $2,415,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Acropolis Investment Management LLC bought a new position in shares of AbbVie in the 2nd quarter worth approximately $106,000. Franklin Parlapiano Turner & Welch LLC bought a new position in shares of AbbVie in the 1st quarter worth approximately $108,000. Atwood & Palmer Inc. raised its position in shares of AbbVie by 1,333.3% in the 1st quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock worth $140,000 after acquiring an additional 2,000 shares in the last quarter. Tradewinds Capital Management LLC raised its position in shares of AbbVie by 87.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock worth $148,000 after acquiring an additional 1,057 shares in the last quarter. Finally, Exane Asset Management bought a new position in shares of AbbVie in the 2nd quarter worth approximately $181,000. Institutional investors and hedge funds own 68.26% of the company’s stock.

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ABBV has been the subject of a number of analyst reports. BidaskClub raised AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 10th. Vetr lowered AbbVie from a “buy” rating to a “hold” rating and set a $72.72 price objective for the company. in a research report on Wednesday, June 14th. Societe Generale raised AbbVie from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Leerink Swann reaffirmed a “market perform” rating on shares of AbbVie in a research report on Thursday, June 22nd. Finally, Zacks Investment Research lowered AbbVie from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $89.90.

AbbVie Inc. (NYSE ABBV) opened at 90.49 on Friday. The stock has a market capitalization of $144.25 billion, a P/E ratio of 22.26 and a beta of 1.51. AbbVie Inc. has a 52-week low of $55.06 and a 52-week high of $91.33. The company’s 50-day moving average price is $82.25 and its 200 day moving average price is $71.95.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 28th. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.40 by $0.02. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The company had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the company earned $1.26 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. On average, equities research analysts predict that AbbVie Inc. will post $5.52 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 2.83%. The ex-dividend date is Thursday, October 12th. AbbVie’s payout ratio is 62.90%.

In other news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $85.02, for a total transaction of $705,666.00. Following the sale, the senior vice president now directly owns 93,099 shares of the company’s stock, valued at approximately $7,915,276.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Robert A. Michael sold 6,699 shares of the stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $88.00, for a total transaction of $589,512.00. Following the sale, the vice president now directly owns 10,007 shares in the company, valued at $880,616. The disclosure for this sale can be found here. Over the last three months, insiders have sold 379,890 shares of company stock worth $27,187,817. Corporate insiders own 0.23% of the company’s stock.

AbbVie Company Profile

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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