Wellington Shields & Co. LLC lessened its position in shares of AbbVie Inc (NYSE:ABBV) by 3.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,258 shares of the company’s stock after selling 742 shares during the quarter. Wellington Shields & Co. LLC’s holdings in AbbVie were worth $1,784,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. TIAA CREF Investment Management LLC lifted its position in shares of AbbVie by 3.5% during the 4th quarter. TIAA CREF Investment Management LLC now owns 10,321,140 shares of the company’s stock worth $998,157,000 after buying an additional 347,642 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of AbbVie by 3.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 6,088,016 shares of the company’s stock worth $576,231,000 after buying an additional 220,125 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of AbbVie by 6.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,954,509 shares of the company’s stock worth $468,944,000 after buying an additional 281,453 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of AbbVie by 12.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,667,023 shares of the company’s stock worth $441,725,000 after buying an additional 522,029 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of AbbVie by 8.5% during the 1st quarter. Franklin Resources Inc. now owns 4,359,665 shares of the company’s stock worth $412,643,000 after buying an additional 340,709 shares during the period. 69.37% of the stock is currently owned by institutional investors.

Several research firms recently commented on ABBV. Bank of America raised their target price on AbbVie from $105.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, August 22nd. BMO Capital Markets restated a “sell” rating and set a $78.00 target price on shares of AbbVie in a research report on Wednesday, August 22nd. Piper Jaffray Companies restated a “hold” rating and set a $100.00 target price on shares of AbbVie in a research report on Friday, July 27th. Cowen set a $110.00 target price on AbbVie and gave the stock a “buy” rating in a research report on Friday, July 27th. Finally, Jefferies Financial Group set a $100.00 target price on AbbVie and gave the stock a “buy” rating in a research report on Sunday, July 15th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $106.31.

In other news, Director Edward J. Rapp bought 1,013 shares of the stock in a transaction dated Wednesday, June 20th. The stock was bought at an average cost of $98.63 per share, with a total value of $99,912.19. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Glenn F. Tilton bought 5,400 shares of the stock in a transaction dated Wednesday, June 27th. The stock was purchased at an average cost of $91.90 per share, with a total value of $496,260.00. Following the completion of the purchase, the director now directly owns 39,735 shares in the company, valued at approximately $3,651,646.50. The disclosure for this purchase can be found here. Insiders own 0.07% of the company’s stock.

Shares of ABBV opened at $95.68 on Friday. 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 Inc has a 52-week low of $83.19 and a 52-week high of $125.86. The firm has a market capitalization of $141.19 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 0.85 and a beta of 1.54.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, October 15th will be given a $0.96 dividend. The ex-dividend date is Friday, October 12th. This represents a $3.84 annualized dividend and a yield of 4.01%. AbbVie’s payout ratio is 68.57%.

AbbVie Profile

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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