Allen Investment Management LLC continued to hold its position in AbbVie Inc. (NYSE:ABBV) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,487 shares of the company’s stock at the end of the first quarter. Allen Investment Management LLC’s holdings in AbbVie were worth $553,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. First Command Financial Services Inc. raised its position in AbbVie by 6.8% in the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock worth $102,000 after buying an additional 99 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in AbbVie during the fourth quarter worth about $137,000. Atwood & Palmer Inc. raised its position in AbbVie by 1,333.3% in the first quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock worth $140,000 after buying an additional 2,000 shares in the last quarter. Tradewinds Capital Management LLC raised its position in AbbVie by 87.2% in the first quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock worth $148,000 after buying an additional 1,057 shares in the last quarter. Finally, American National Bank raised its position in AbbVie by 13.8% in the first quarter. American National Bank now owns 2,471 shares of the company’s stock worth $161,000 after buying an additional 299 shares in the last quarter. Institutional investors and hedge funds own 67.89% of the company’s stock.

Shares of AbbVie Inc. (NYSE ABBV) traded down 0.87% on Thursday, hitting $71.39. The stock had a trading volume of 538,147 shares. AbbVie Inc. has a one year low of $55.06 and a one year high of $75.04. The company has a market capitalization of $113.80 billion, a P/E ratio of 17.56 and a beta of 1.50. The firm has a 50 day moving average price of $72.15 and a 200 day moving average price of $66.67. AbbVie also was the target of unusually large options trading on Monday. Stock investors bought 278 put options on the stock. This is an increase of approximately 121% compared to the typical daily volume of 126 put options.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 28th. The company reported $1.42 EPS for the quarter, topping 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 business had revenue of $6.94 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the business posted $1.26 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts predict that AbbVie Inc. will post $5.52 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Wednesday, July 12th. AbbVie’s dividend payout ratio is 62.90%.

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Several analysts have weighed in on ABBV shares. Deutsche Bank AG reaffirmed a “hold” rating and set a $66.00 target price (up previously from $65.00) on shares of AbbVie in a research note on Monday, July 17th. Vetr raised AbbVie from a “hold” rating to a “buy” rating and set a $76.28 target price on the stock in a research note on Wednesday, July 26th. BidaskClub downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Jefferies Group LLC reaffirmed a “buy” rating and set a $94.00 target price (up previously from $92.00) on shares of AbbVie in a research note on Monday, July 17th. Finally, Zacks Investment Research raised AbbVie from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $74.66.

In other AbbVie news, CFO William J. Chase sold 38,300 shares of AbbVie stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $65.35, for a total value of $2,502,905.00. Following the sale, the chief financial officer now owns 209,043 shares of the company’s stock, valued at approximately $13,660,960.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Carlos Alban sold 45,800 shares of AbbVie stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $70.00, for a total value of $3,206,000.00. Following the completion of the sale, the executive vice president now directly owns 160,545 shares in the company, valued at approximately $11,238,150. The disclosure for this sale can be found here. Insiders sold a total of 600,026 shares of company stock worth $41,852,724 in the last three months. Company insiders own 0.23% of the company’s stock.

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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