CCM Investment Advisers LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 0.1% during the first quarter, Holdings Channel reports. The institutional investor owned 147,216 shares of the company’s stock after selling 180 shares during the period. AbbVie comprises about 1.9% of CCM Investment Advisers LLC’s portfolio, making the stock its 15th largest position. CCM Investment Advisers LLC’s holdings in AbbVie were worth $9,592,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. First Command Financial Services Inc. increased its position in shares of AbbVie by 6.8% in the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock worth $102,000 after buying an additional 99 shares in the last quarter. Atwood & Palmer Inc. increased its position in shares of AbbVie by 1,333.3% in the first quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock worth $140,000 after buying an additional 2,000 shares in the last quarter. Tradewinds Capital Management LLC increased its position in shares of AbbVie by 87.2% in the first quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock worth $148,000 after buying an additional 1,057 shares in the last quarter. American National Bank increased its position in shares of AbbVie by 13.8% in the first quarter. American National Bank now owns 2,471 shares of the company’s stock worth $161,000 after buying an additional 299 shares in the last quarter. Finally, Cable Hill Partners LLC increased its position in shares of AbbVie by 7.4% in the first quarter. Cable Hill Partners LLC now owns 2,711 shares of the company’s stock worth $177,000 after buying an additional 186 shares in the last quarter. 67.69% of the stock is owned by institutional investors.

Shares of AbbVie Inc. (ABBV) traded up 0.391% during midday trading on Wednesday, reaching $70.615. 1,271,409 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $71.93 and a 200-day moving average price of $66.99. AbbVie Inc. has a 52-week low of $55.06 and a 52-week high of $75.04. The stock has a market cap of $112.57 billion, a P/E ratio of 17.367 and a beta of 1.50.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.94 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the business earned $1.26 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. Analysts forecast that AbbVie Inc. will post $5.52 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th were issued a dividend of $0.64 per share. The ex-dividend date was Wednesday, July 12th. This represents a $2.56 annualized dividend and a yield of 3.64%. AbbVie’s payout ratio is 62.90%.

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ABBV has been the subject of a number of recent research reports. Piper Jaffray Companies reissued a “buy” rating and set a $85.00 price target on shares of AbbVie in a research note on Thursday, August 3rd. BidaskClub downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Vetr raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 price target for the company in a research note on Wednesday, July 26th. Cowen and Company set a $70.00 price target on shares of AbbVie and gave the stock a “hold” rating in a research note on Sunday, July 30th. Finally, Leerink Swann set a $71.00 price target on shares of AbbVie and gave the stock a “hold” rating in a research note on Thursday, April 20th. Nine research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $74.66.

In other AbbVie news, Chairman Richard A. Gonzalez sold 193,131 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $71.00, for a total transaction of $13,712,301.00. Following the completion of the transaction, the chairman now owns 469,623 shares in the company, valued at approximately $33,343,233. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO William J. Chase sold 38,300 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $65.35, for a total transaction of $2,502,905.00. Following the transaction, the chief financial officer now owns 209,043 shares of the company’s stock, valued at approximately $13,660,960.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 600,026 shares of company stock valued at $41,852,724. Company insiders own 0.23% of the company’s stock.

About AbbVie

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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