MML Investors Services LLC grew its holdings in shares of AbbVie Inc (NYSE:ABBV) by 11.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 229,235 shares of the company’s stock after buying an additional 22,908 shares during the quarter. MML Investors Services LLC’s holdings in AbbVie were worth $16,670,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ABBV. Weaver Consulting Group bought a new position in AbbVie in the first quarter worth about $25,000. Arbor Wealth Management LLC acquired a new position in shares of AbbVie during the second quarter worth $28,000. Lowe Wealth Advisors LLC increased its position in shares of AbbVie by 206.7% during the second quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 310 shares in the last quarter. Horrell Capital Management Inc. purchased a new stake in shares of AbbVie during the 2nd quarter valued at $33,000. Finally, TD Capital Management LLC purchased a new stake in shares of AbbVie during the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 68.21% of the company’s stock.

Several brokerages recently weighed in on ABBV. Citigroup restated a “hold” rating on shares of AbbVie in a research note on Wednesday, June 26th. Svb Leerink upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price target for the company in a research note on Wednesday, June 26th. ValuEngine downgraded AbbVie from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 26th. Leerink Swann upgraded AbbVie to a “buy” rating in a research note on Tuesday, July 2nd. Finally, Wolfe Research upgraded AbbVie from an “underperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $92.12.

In related news, SVP Jeffrey Ryan Stewart acquired 15,552 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was acquired at an average price of $64.44 per share, with a total value of $1,002,170.88. Following the acquisition, the senior vice president now directly owns 65,304 shares in the company, valued at approximately $4,208,189.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Nicholas Donoghoe bought 7,525 shares of the stock in a transaction dated Thursday, August 29th. The stock was bought at an average price of $66.19 per share, for a total transaction of $498,079.75. Following the purchase, the senior vice president now directly owns 13,090 shares of the company’s stock, valued at $866,427.10. The disclosure for this purchase can be found here. Insiders have acquired a total of 159,977 shares of company stock valued at $10,626,621 over the last three months. 0.08% of the stock is currently owned by insiders.

Shares of ABBV stock traded up $1.37 during mid-day trading on Wednesday, reaching $69.55. The stock had a trading volume of 5,183,448 shares, compared to its average volume of 7,585,533. AbbVie Inc has a 1-year low of $62.66 and a 1-year high of $96.60. The firm has a market cap of $98.61 billion, a price-to-earnings ratio of 8.79, a PEG ratio of 1.58 and a beta of 0.95. The business’s fifty day moving average is $66.10 and its 200-day moving average is $74.87.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 26th. The company reported $2.26 EPS for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.05. The firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.09 billion. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The company’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.00 earnings per share. Analysts forecast that AbbVie Inc will post 8.9 earnings per share for the current year.

The firm also recently declared a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a dividend of $1.07 per share. This represents a yield of 6.4%. The ex-dividend date of this dividend is Friday, October 11th. AbbVie’s dividend payout ratio is presently 54.11%.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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