MML Investors Services LLC Buys 22,908 Shares of AbbVie Inc (NYSE:ABBV)
MML Investors Services LLC increased its stake in AbbVie Inc (NYSE:ABBV) by 11.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 229,235 shares of the company’s stock after acquiring an additional 22,908 shares during the period. MML Investors Services LLC’s holdings in AbbVie were worth $16,670,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of ABBV. Van Leeuwen & Company LLC boosted its position in shares of AbbVie by 4.1% in the 4th quarter. Van Leeuwen & Company LLC now owns 3,296 shares of the company’s stock worth $304,000 after purchasing an additional 130 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in AbbVie by 0.3% during the second quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 44,147 shares of the company’s stock valued at $3,210,000 after buying an additional 147 shares during the last quarter. Weatherly Asset Management L. P. raised its stake in AbbVie by 1.8% during the second quarter. Weatherly Asset Management L. P. now owns 8,317 shares of the company’s stock valued at $605,000 after buying an additional 151 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in AbbVie by 4.2% in the second quarter. Golden State Wealth Management LLC now owns 3,833 shares of the company’s stock worth $278,000 after acquiring an additional 153 shares in the last quarter. Finally, BTIM Corp. boosted its holdings in AbbVie by 0.6% in the second quarter. BTIM Corp. now owns 27,263 shares of the company’s stock worth $1,983,000 after acquiring an additional 154 shares in the last quarter. Institutional investors own 68.21% of the company’s stock.
ABBV traded up $1.37 during mid-day trading on Wednesday, reaching $69.55. 5,183,448 shares of the company traded hands, compared to its average volume of 7,585,533. The company’s fifty day moving average price is $66.10 and its 200-day moving average price is $74.87. The stock has a market capitalization of $98.61 billion, a P/E ratio of 8.79, a P/E/G ratio of 1.58 and a beta of 0.95. AbbVie Inc has a 52-week low of $62.66 and a 52-week high of $96.60.
The company also recently declared a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a dividend yield of 6.4%. AbbVie’s dividend payout ratio is currently 54.11%.
In other AbbVie news, EVP William J. Chase acquired 30,400 shares of the stock in a transaction dated Wednesday, June 26th. The shares were purchased at an average price of $67.30 per share, for a total transaction of $2,045,920.00. Following the purchase, the executive vice president now directly owns 169,552 shares of the company’s stock, valued at $11,410,849.60. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Roxanne S. Austin acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was 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 approximately $4,121,263.90. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 159,977 shares of company stock valued at $10,626,621. Corporate insiders own 0.08% of the company’s stock.
Several equities analysts have recently weighed in on the company. ValuEngine downgraded AbbVie from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 26th. Leerink Swann upgraded shares of AbbVie to a “buy” rating in a research note on Tuesday, July 2nd. Svb Leerink raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price objective on the stock in a research report on Wednesday, June 26th. Goldman Sachs Group started coverage on shares of AbbVie in a research note on Tuesday, May 28th. They set a “neutral” rating and a $84.00 price objective for the company. Finally, TheStreet cut shares of AbbVie from a “b-” rating to a “c” rating in a report on Monday, August 26th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. AbbVie currently has a consensus rating of “Hold” and a consensus price target of $92.12.
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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