MERIAN GLOBAL INVESTORS UK Ltd lowered its position in shares of AbbVie Inc (NYSE:ABBV) by 15.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,486 shares of the company’s stock after selling 13,754 shares during the quarter. MERIAN GLOBAL INVESTORS UK Ltd’s holdings in AbbVie were worth $6,950,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of ABBV. Cornerstone Wealth Management LLC increased its position in AbbVie by 8,774.3% during the second quarter. Cornerstone Wealth Management LLC now owns 1,102,183 shares of the company’s stock valued at $11,837,000 after acquiring an additional 1,089,763 shares during the last quarter. SeaCrest Wealth Management LLC increased its position in AbbVie by 43.1% during the second quarter. SeaCrest Wealth Management LLC now owns 34,815 shares of the company’s stock valued at $3,226,000 after acquiring an additional 10,483 shares during the last quarter. Riverhead Capital Management LLC increased its position in AbbVie by 10.0% during the second quarter. Riverhead Capital Management LLC now owns 117,611 shares of the company’s stock valued at $10,897,000 after acquiring an additional 10,702 shares during the last quarter. Lynch & Associates IN increased its position in AbbVie by 1.8% during the second quarter. Lynch & Associates IN now owns 60,094 shares of the company’s stock valued at $5,568,000 after acquiring an additional 1,037 shares during the last quarter. Finally, Highbridge Capital Management LLC increased its position in AbbVie by 2,285.6% during the first quarter. Highbridge Capital Management LLC now owns 120,206 shares of the company’s stock valued at $11,377,000 after acquiring an additional 125,706 shares during the last quarter. 69.26% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have weighed in on ABBV. Bank of America boosted their price objective on shares of AbbVie from $105.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, August 22nd. BMO Capital Markets reiterated a “sell” rating and set a $78.00 price objective on shares of AbbVie in a research report on Wednesday, August 22nd. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research report on Monday, October 1st. Credit Suisse Group set a $85.00 price objective on shares of AbbVie and gave the company a “hold” rating in a research report on Sunday, October 14th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $100.00 target price on shares of AbbVie in a research note on Friday, July 27th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $103.68.

ABBV stock opened at $91.53 on Monday. The stock has a market cap of $137.68 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 0.85 and a beta of 1.62. AbbVie Inc has a one year low of $77.50 and a one year high of $125.86. The company has a quick ratio of 1.08, a current ratio of 1.20 and a debt-to-equity ratio of 8.70.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, November 2nd. The company reported $2.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.01 by $0.13. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.23 billion. AbbVie had a net margin of 23.50% and a return on equity of 2,006.63%. The company’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.41 earnings per share. Analysts predict that AbbVie Inc will post 7.93 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Tuesday, January 15th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.68%. This is a positive change from AbbVie’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Monday, January 14th. AbbVie’s dividend payout ratio is presently 68.57%.

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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, to treat adults with genotype 1 chronic hepatitis C.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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