HL Financial Services LLC lifted its holdings in AbbVie Inc (NYSE:ABBV) by 12.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 434,818 shares of the company’s stock after buying an additional 47,252 shares during the quarter. HL Financial Services LLC’s holdings in AbbVie were worth $40,286,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. bought a new position in shares of AbbVie in the first quarter valued at about $146,000. First Mercantile Trust Co. bought a new position in shares of AbbVie in the second quarter valued at about $150,000. Centaurus Financial Inc. bought a new position in shares of AbbVie in the first quarter valued at about $153,000. Wagner Wealth Management LLC bought a new position in shares of AbbVie in the fourth quarter valued at about $154,000. Finally, MUFG Securities EMEA plc bought a new position in shares of AbbVie in the second quarter valued at about $157,000. 69.31% of the stock is owned by institutional investors and hedge funds.

Several analysts have weighed in on ABBV shares. Argus dropped their price objective on AbbVie from $145.00 to $130.00 and set a “buy” rating for the company in a report on Monday, June 11th. Cowen set a $110.00 price objective on AbbVie and gave the stock a “buy” rating in a report on Friday, July 27th. Jefferies Financial Group set a $100.00 price objective on AbbVie and gave the stock a “buy” rating in a report on Sunday, July 15th. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Wednesday, June 27th. Finally, Bank of America dropped their price objective on AbbVie from $112.00 to $105.00 and set a “buy” rating for the company in a report on Monday, July 30th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. AbbVie has an average rating of “Hold” and an average target price of $106.31.

In other news, EVP Michael Severino sold 50,000 shares of the business’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the completion of the transaction, the executive vice president now directly owns 111,481 shares in the company, valued at approximately $10,871,627.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Glenn F. Tilton bought 5,400 shares of the firm’s stock in a transaction dated Wednesday, June 27th. The shares were bought at an average price of $91.90 per share, with a total value of $496,260.00. Following the completion of the transaction, the director now directly owns 39,735 shares in the company, valued at approximately $3,651,646.50. The disclosure for this purchase can be found here. 0.07% of the stock is currently owned by insiders.

AbbVie stock opened at $93.42 on Tuesday. The stock has a market cap of $139.71 billion, a PE ratio of 16.68, a P/E/G ratio of 0.89 and a beta of 1.54. AbbVie Inc has a 1 year low of $83.19 and a 1 year high of $125.86. 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 posted its 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. The company had revenue of $8.28 billion during the quarter, compared to analyst estimates of $8.22 billion. AbbVie had a return on equity of 362.05% and a net margin of 20.84%. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.42 EPS. equities analysts forecast that AbbVie Inc will post 7.86 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be given a dividend of $0.96 per share. The ex-dividend date is Friday, October 12th. This represents a $3.84 annualized dividend and a dividend yield of 4.11%. AbbVie’s payout ratio is currently 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, for the treatment of adults with genotype 1 chronic hepatitis C.

Further Reading: Stock Symbol

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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