AbbVie Inc (NYSE:ABBV) Stock Holdings Lowered by Hayden Royal LLC

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Hayden Royal LLC lessened its stake in AbbVie Inc (NYSE:ABBV) by 18.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,529 shares of the company’s stock after selling 1,250 shares during the period. Hayden Royal LLC’s holdings in AbbVie were worth $397,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Portfolio Solutions LLC acquired a new position in AbbVie during the fourth quarter valued at $46,000. Econ Financial Services Corp acquired a new position in shares of AbbVie in the fourth quarter worth about $315,000. Shulman DeMeo Asset Management LLC acquired a new position in shares of AbbVie in the fourth quarter worth about $1,316,000. Loudon Investment Management LLC raised its position in shares of AbbVie by 36.7% in the fourth quarter. Loudon Investment Management LLC now owns 36,404 shares of the company’s stock worth $3,356,000 after acquiring an additional 9,771 shares during the period. Finally, Csenge Advisory Group raised its position in shares of AbbVie by 11.3% in the fourth quarter. Csenge Advisory Group now owns 8,774 shares of the company’s stock worth $808,000 after acquiring an additional 894 shares during the period. Hedge funds and other institutional investors own 68.15% of the company’s stock.

In other news, Director Roxanne S. Austin acquired 10,000 shares of AbbVie stock in a transaction dated Tuesday, July 30th. The shares were acquired at an average cost of $66.35 per share, for a total transaction of $663,500.00. Following the acquisition, the director now owns 62,114 shares of the company’s stock, valued at $4,121,263.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Roxanne S. Austin acquired 55,000 shares of AbbVie stock in a transaction dated Thursday, August 1st. The stock was purchased at an average price of $65.86 per share, for a total transaction of $3,622,300.00. Following the completion of the acquisition, the director now directly owns 92,114 shares in the company, valued at approximately $6,066,628.04. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 136,900 shares of company stock worth $9,126,370. 0.08% of the stock is owned by company insiders.

A number of brokerages have weighed in on ABBV. BMO Capital Markets upgraded shares of AbbVie from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $71.00 to $79.00 in a research report on Sunday, April 28th. Piper Jaffray Companies set a $80.00 price objective on shares of AbbVie and gave the stock a “hold” rating in a research report on Friday, July 26th. Goldman Sachs Group began coverage on shares of AbbVie in a research report on Tuesday, May 28th. They issued a “neutral” rating and a $84.00 price objective for the company. Citigroup reiterated a “hold” rating on shares of AbbVie in a research report on Wednesday, June 26th. Finally, Leerink Swann upgraded shares of AbbVie to a “buy” rating in a research report on Tuesday, July 2nd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $92.05.

ABBV opened at $65.01 on Wednesday. AbbVie Inc has a twelve month low of $63.31 and a twelve month high of $100.23. The firm has a market cap of $96.96 billion, a P/E ratio of 8.22, a PEG ratio of 1.56 and a beta of 0.96. The stock’s 50-day moving average is $68.77.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 26th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.05. The business had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.09 billion. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.00 EPS. On average, analysts predict that AbbVie Inc will post 8.88 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $4.28 dividend on an annualized basis and a yield of 6.58%. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.

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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