Mackay Shields LLC lowered its position in AbbVie Inc (NYSE:ABBV) by 29.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 516,897 shares of the company’s stock after selling 215,710 shares during the quarter. Mackay Shields LLC’s holdings in AbbVie were worth $47,890,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ABBV. Cornerstone Wealth Management LLC lifted its position in shares of AbbVie by 8,774.3% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,102,183 shares of the company’s stock worth $11,837,000 after acquiring an additional 1,089,763 shares during the period. Summit Trail Advisors LLC lifted its position in shares of AbbVie by 7,637.2% in the 1st quarter. Summit Trail Advisors LLC now owns 997,253 shares of the company’s stock worth $997,000 after acquiring an additional 984,364 shares during the period. Rock Springs Capital Management LP bought a new stake in shares of AbbVie in the 1st quarter worth approximately $56,790,000. SG Americas Securities LLC lifted its position in shares of AbbVie by 162.0% in the 1st quarter. SG Americas Securities LLC now owns 921,963 shares of the company’s stock worth $87,264,000 after acquiring an additional 570,075 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of AbbVie by 12.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,667,023 shares of the company’s stock worth $441,725,000 after acquiring an additional 522,029 shares during the period. Institutional investors own 69.31% of the company’s stock.

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

A number of analysts have commented on ABBV shares. BMO Capital Markets reiterated a “sell” rating and issued a $78.00 price objective on shares of AbbVie in a research report on Wednesday, August 22nd. Zacks Investment Research downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Saturday, July 14th. Deutsche Bank downgraded AbbVie from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $125.86 to $65.61 in a research report on Wednesday, May 30th. Piper Jaffray Companies downgraded AbbVie from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $125.86 to $66.62 in a research report on Friday, June 1st. Finally, Bank of America raised their price objective on AbbVie from $105.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, August 22nd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $106.31.

AbbVie stock opened at $92.26 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of -9.06. The company has a market cap of $139.71 billion, a P/E ratio of 16.48, a P/E/G ratio of 0.89 and a beta of 1.54. AbbVie Inc has a one year low of $83.19 and a one year high of $125.86.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, July 27th. The company reported $2.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.02. The business had revenue of $8.28 billion during the quarter, compared to the consensus estimate of $8.22 billion. AbbVie had a return on equity of 362.05% and a net margin of 20.84%. AbbVie’s revenue was up 19.2% on a year-over-year basis. During the same quarter last year, the company earned $1.42 EPS. equities research analysts forecast that AbbVie Inc will post 7.86 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors 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 4.16%. AbbVie’s dividend payout ratio (DPR) is presently 68.57%.

AbbVie 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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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