MERIAN GLOBAL INVESTORS UK Ltd cut its holdings in AbbVie Inc (NYSE:ABBV) by 38.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 190,912 shares of the company’s stock after selling 120,874 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd’s holdings in AbbVie were worth $18,743,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Efficient Wealth Management LLC bought a new stake in AbbVie in the 1st quarter valued at about $27,000. Lion Street Advisors LLC bought a new stake in AbbVie in the 1st quarter valued at about $29,000. Americana Partners LLC bought a new stake in AbbVie in the 4th quarter valued at about $32,000. Marquette Asset Management LLC lifted its position in AbbVie by 200.0% in the 1st quarter. Marquette Asset Management LLC now owns 450 shares of the company’s stock valued at $34,000 after purchasing an additional 300 shares during the last quarter. Finally, Horrell Capital Management Inc. bought a new stake in AbbVie in the 1st quarter valued at about $34,000. 72.40% of the stock is owned by institutional investors and hedge funds.

In related news, Vice Chairman Carlos Alban sold 53,325 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $100.00, for a total transaction of $5,332,500.00. Following the transaction, the insider now directly owns 137,899 shares of the company’s stock, valued at $13,789,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy J. Richmond sold 19,445 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $85.00, for a total transaction of $1,652,825.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,794 shares of company stock worth $9,057,485. 0.09% of the stock is currently owned by insiders.

Several analysts recently weighed in on ABBV shares. JPMorgan Chase & Co. upgraded shares of AbbVie from a “neutral” rating to an “overweight” rating and set a $105.00 price objective on the stock in a research report on Tuesday, May 12th. Bank of America initiated coverage on shares of AbbVie in a research report on Monday, May 18th. They set a “neutral” rating and a $95.00 price target on the stock. Piper Sandler boosted their price target on shares of AbbVie from $97.00 to $110.00 in a research report on Wednesday, June 10th. SVB Leerink boosted their price target on shares of AbbVie from $107.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, Societe Generale downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Monday, March 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $106.80.

NYSE ABBV opened at $97.86 on Tuesday. The company’s 50 day simple moving average is $95.18 and its 200 day simple moving average is $87.58. The company has a market capitalization of $142.99 billion, a P/E ratio of 17.32, a PEG ratio of 2.08 and a beta of 0.86. AbbVie Inc has a 12 month low of $62.55 and a 12 month high of $100.69.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, May 1st. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.17. The business had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.31 billion. AbbVie had a net margin of 24.77% and a negative return on equity of 169.80%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the firm posted $2.14 earnings per share. As a group, analysts forecast that AbbVie Inc will post 10.5 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be given a $1.18 dividend. This represents a $4.72 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend is Tuesday, July 14th. AbbVie’s dividend payout ratio (DPR) is currently 52.80%.

AbbVie 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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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