Edmond DE Rothschild Holding S.A. decreased its position in AbbVie Inc. (NYSE:ABBV) by 23.0% during the first quarter, Holdings Channel reports. The institutional investor owned 8,024 shares of the company’s stock after selling 2,394 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in AbbVie were worth $523,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ABBV. Toth Financial Advisory Corp boosted its stake in AbbVie by 2.6% in the first quarter. Toth Financial Advisory Corp now owns 61,012 shares of the company’s stock valued at $3,976,000 after buying an additional 1,536 shares during the last quarter. Orbis Allan Gray Ltd boosted its stake in AbbVie by 11.8% in the fourth quarter. Orbis Allan Gray Ltd now owns 5,485,407 shares of the company’s stock valued at $343,496,000 after buying an additional 579,378 shares during the last quarter. Iowa State Bank boosted its stake in AbbVie by 3.6% in the first quarter. Iowa State Bank now owns 71,888 shares of the company’s stock valued at $4,684,000 after buying an additional 2,496 shares during the last quarter. Dynamic Advisors Solutions LLC boosted its stake in AbbVie by 680.0% in the first quarter. Dynamic Advisors Solutions LLC now owns 69,407 shares of the company’s stock valued at $4,523,000 after buying an additional 60,509 shares during the last quarter. Finally, Hamlin Capital Management LLC boosted its stake in AbbVie by 14.6% in the first quarter. Hamlin Capital Management LLC now owns 1,244,866 shares of the company’s stock valued at $81,115,000 after buying an additional 158,763 shares during the last quarter. 67.89% of the stock is currently owned by institutional investors and hedge funds.

Shares of AbbVie Inc. (NYSE ABBV) traded up 0.70% during mid-day trading on Friday, reaching $70.93. The company’s stock had a trading volume of 734,956 shares. The company’s 50-day moving average is $72.13 and its 200 day moving average is $66.69. The firm has a market cap of $113.07 billion, a price-to-earnings ratio of 17.44 and a beta of 1.50. AbbVie Inc. has a 12 month low of $55.06 and a 12 month high of $75.04.

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

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Wednesday, July 12th. AbbVie’s dividend payout ratio (DPR) is 62.90%.

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Several research firms have weighed in on ABBV. Vetr cut AbbVie from a “buy” rating to a “hold” rating and set a $76.28 target price for the company. in a research note on Thursday, July 20th. Leerink Swann restated a “market perform” rating on shares of AbbVie in a research note on Thursday, June 22nd. Jefferies Group LLC restated a “buy” rating and set a $94.00 target price (up from $92.00) on shares of AbbVie in a research note on Monday, July 17th. Deutsche Bank AG restated a “hold” rating and set a $66.00 target price (up from $65.00) on shares of AbbVie in a research note on Monday, July 17th. Finally, Credit Suisse Group restated a “neutral” rating and set a $74.00 target price (up from $65.00) on shares of AbbVie in a research note on Thursday, July 20th. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. AbbVie has an average rating of “Buy” and a consensus price target of $74.66.

In other news, CFO William J. Chase sold 38,300 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $65.35, for a total transaction of $2,502,905.00. Following the completion of the transaction, the chief financial officer now directly owns 209,043 shares of the company’s stock, valued at $13,660,960.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard A. Gonzalez sold 65,861 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $71.00, for a total transaction of $4,676,131.00. Following the transaction, the chief executive officer now directly owns 342,353 shares of the company’s stock, valued at $24,307,063. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 600,026 shares of company stock valued at $41,852,724. 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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