Hussman Strategic Advisors Inc. purchased a new position in AbbVie Inc (NYSE:ABBV) during the second quarter, Holdings Channel reports. The firm purchased 25,000 shares of the company’s stock, valued at approximately $2,316,000.

A number of other institutional investors have also recently made changes to their positions in ABBV. Truewealth LLC bought a new position in AbbVie in the 4th quarter worth about $126,000. Delpha Capital Management LLC bought a new position in AbbVie in the 4th quarter worth about $131,000. Virtue Capital Management LLC purchased a new position in AbbVie in the 4th quarter worth about $139,000. Fairfield Bush & CO. purchased a new position in AbbVie in the 1st quarter worth about $146,000. Finally, We Are One Seven LLC purchased a new position in AbbVie in the 4th quarter worth about $148,000. Institutional investors own 69.35% of the company’s stock.

In other AbbVie news, Director Edward J. Rapp purchased 1,013 shares of AbbVie stock in a transaction dated Wednesday, June 20th. The stock was purchased at an average price of $98.63 per share, with a total value of $99,912.19. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Timothy J. Richmond sold 17,588 shares of the company’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $99.47, for a total transaction of $1,749,478.36. The disclosure for this sale can be found here. 0.07% of the stock is owned by corporate insiders.

A number of brokerages have weighed in on ABBV. Bank of America decreased their target price on AbbVie from $112.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, July 30th. Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a research report on Saturday, July 14th. Cowen set a $110.00 target price on AbbVie and gave the stock a “buy” rating in a research report on Friday, July 27th. Credit Suisse Group raised AbbVie to a “hold” rating and set a $89.00 target price for the company in a research report on Friday, July 13th. Finally, BMO Capital Markets decreased their target price on AbbVie from $81.00 to $78.00 and set an “underperform” rating for the company in a research report on Wednesday, May 23rd. Three 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 assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $105.98.

NYSE ABBV opened at $94.17 on Friday. AbbVie Inc has a 52 week low of $81.11 and a 52 week high of $125.86. The stock has a market cap of $144.14 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 0.86 and a beta of 1.54. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of -9.06.

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

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 4.08%. AbbVie’s payout ratio is currently 68.57%.

About AbbVie

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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