Strategy Asset Managers LLC trimmed its holdings in shares of AbbVie Inc (NYSE:ABBV) by 11.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,041 shares of the company’s stock after selling 2,089 shares during the period. Strategy Asset Managers LLC’s holdings in AbbVie were worth $1,479,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ABBV. Prime Capital Investment Advisors LLC acquired a new stake in AbbVie in the 4th quarter valued at about $27,000. Penserra Capital Management LLC acquired a new stake in AbbVie in the 4th quarter valued at about $32,000. Larson Financial Group LLC acquired a new stake in AbbVie in the 4th quarter valued at about $37,000. Horrell Capital Management Inc. acquired a new stake in AbbVie in the 4th quarter valued at about $41,000. Finally, Portfolio Solutions LLC acquired a new stake in AbbVie in the 4th quarter valued at about $46,000. Institutional investors own 70.53% of the company’s stock.

Several equities research analysts recently issued reports on ABBV shares. Zacks Investment Research downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. Credit Suisse Group set a $79.00 price objective on shares of AbbVie and gave the stock a “hold” rating in a research report on Friday, January 25th. ValuEngine upgraded shares of AbbVie from a “strong sell” rating to a “sell” rating in a research report on Friday, March 15th. Barclays restated a “hold” rating and set a $86.00 price objective on shares of AbbVie in a research report on Thursday, February 14th. Finally, UBS Group restated a “neutral” rating and set a $91.00 price objective (down from $97.00) on shares of AbbVie in a research report on Wednesday, January 23rd. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $94.95.

Shares of ABBV traded down $0.32 during mid-day trading on Wednesday, hitting $80.56. 726,166 shares of the company’s stock were exchanged, compared to its average volume of 6,353,948. AbbVie Inc has a 52 week low of $75.62 and a 52 week high of $107.24. The stock has a market capitalization of $119.57 billion, a PE ratio of 10.18, a P/E/G ratio of 1.62 and a beta of 1.14.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, April 25th. The company reported $2.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.06 by $0.08. AbbVie had a net margin of 16.42% and a negative return on equity of 221.09%. The company had revenue of $7.83 billion for the quarter, compared to analysts’ expectations of $7.81 billion. During the same period last year, the firm earned $1.87 earnings per share. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. As a group, sell-side analysts forecast that AbbVie Inc will post 8.83 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th were issued a dividend of $1.07 per share. The ex-dividend date was Friday, April 12th. This represents a $4.28 annualized dividend and a dividend yield of 5.31%. AbbVie’s dividend payout ratio is presently 54.11%.

In related news, Vice Chairman Laura J. Schumacher sold 25,000 shares of AbbVie stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $80.00, for a total value of $2,000,000.00. Following the transaction, the insider now directly owns 139,838 shares of the company’s stock, valued at $11,187,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 15,797 shares of AbbVie stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $79.03, for a total transaction of $1,248,436.91. Following the completion of the transaction, the executive vice president now directly owns 93,312 shares in the company, valued at $7,374,447.36. The disclosure for this sale can be found here. Insiders have sold 41,272 shares of company stock worth $3,286,290 over the last ninety days. Insiders own 0.08% of the company’s stock.

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AbbVie Company 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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