Farmers & Merchants Investments Inc. reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,634 shares of the company’s stock after selling 9,929 shares during the period. Farmers & Merchants Investments Inc.’s holdings in AbbVie were worth $9,472,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Country Club Trust Company n.a. raised its stake in AbbVie by 0.6% in the first quarter. Country Club Trust Company n.a. now owns 4,434 shares of the company’s stock valued at $289,000 after buying an additional 26 shares during the period. Quadrant Capital Group LLC raised its stake in AbbVie by 4.8% in the first quarter. Quadrant Capital Group LLC now owns 10,055 shares of the company’s stock valued at $643,000 after buying an additional 462 shares during the period. Koshinski Asset Management Inc. raised its stake in AbbVie by 9.2% in the first quarter. Koshinski Asset Management Inc. now owns 9,184 shares of the company’s stock valued at $598,000 after buying an additional 773 shares during the period. Dynamic Advisors Solutions LLC raised 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 period. Finally, Gulf International Bank UK Ltd raised its stake in AbbVie by 1.9% in the first quarter. Gulf International Bank UK Ltd now owns 507,424 shares of the company’s stock valued at $33,063,000 after buying an additional 9,500 shares during the period. 68.27% of the stock is currently owned by institutional investors.

AbbVie Inc. (NYSE:ABBV) traded down 0.196% during trading on Wednesday, reaching $73.745. 1,120,889 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $71.65 and its 200-day moving average is $67.49. The company has a market cap of $117.56 billion, a P/E ratio of 18.137 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 posted its quarterly earnings data on Friday, July 28th. The company reported $1.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.02. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The firm had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the company earned $1.26 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. Analysts predict that AbbVie Inc. will post $5.52 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Friday, July 14th were paid a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend was Wednesday, July 12th. AbbVie’s dividend payout ratio is currently 62.90%.

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Several analysts have recently issued reports on the stock. Vetr lowered shares of AbbVie from a “buy” rating to a “hold” rating and set a $76.28 price target on the stock. in a research report on Thursday, July 20th. Leerink Swann reaffirmed a “market perform” rating on shares of AbbVie in a research note on Thursday, June 22nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $94.00 price objective (up previously from $92.00) on shares of AbbVie in a research note on Monday, July 17th. Deutsche Bank AG reaffirmed a “hold” rating and set a $66.00 price objective (up previously from $65.00) on shares of AbbVie in a research note on Monday, July 17th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $74.00 price objective (up previously from $65.00) on shares of AbbVie in a research note on Thursday, July 20th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $76.02.

In related news, EVP Carlos Alban sold 45,800 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $70.00, for a total value of $3,206,000.00. Following the completion of the transaction, the executive vice president now directly owns 160,545 shares of the company’s stock, valued at approximately $11,238,150. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Laura J. Schumacher sold 79,800 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $70.00, for a total value of $5,586,000.00. Following the completion of the transaction, the insider now directly owns 187,625 shares of the company’s stock, valued at $13,133,750. The disclosure for this sale can be found here. Over the last three months, insiders sold 490,491 shares of company stock valued at $34,684,639. 0.23% of the stock is owned by corporate insiders.

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.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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