Global Trust Asset Management LLC Has $1.26 Million Holdings in AbbVie Inc (ABBV)

Global Trust Asset Management LLC trimmed its position in shares of AbbVie Inc (NYSE:ABBV) by 18.0% during the second quarter, Holdings Channel reports. The fund owned 13,626 shares of the company’s stock after selling 2,998 shares during the quarter. AbbVie comprises 0.9% of Global Trust Asset Management LLC’s portfolio, making the stock its 28th biggest holding. Global Trust Asset Management LLC’s holdings in AbbVie were worth $1,262,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Lynch & Associates IN boosted its holdings in shares of AbbVie by 1.8% in the 2nd quarter. Lynch & Associates IN now owns 60,094 shares of the company’s stock worth $5,568,000 after buying an additional 1,037 shares during the last quarter. Highbridge Capital Management LLC boosted its holdings in shares of AbbVie by 2,285.6% in the 1st quarter. Highbridge Capital Management LLC now owns 120,206 shares of the company’s stock worth $11,377,000 after buying an additional 125,706 shares during the last quarter. Kiwi Wealth Investments Limited Partnership boosted its holdings in shares of AbbVie by 10.9% in the 1st quarter. Kiwi Wealth Investments Limited Partnership now owns 136,087 shares of the company’s stock worth $12,881,000 after buying an additional 13,379 shares during the last quarter. Sun Life Financial INC boosted its holdings in shares of AbbVie by 19.1% in the 4th quarter. Sun Life Financial INC now owns 19,479 shares of the company’s stock worth $1,884,000 after buying an additional 3,119 shares during the last quarter. Finally, BancorpSouth Bank purchased a new position in shares of AbbVie in the 4th quarter worth about $2,530,000. 68.53% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Glenn F. Tilton purchased 5,400 shares of the firm’s stock in a transaction dated Wednesday, June 27th. The shares were purchased at an average cost of $91.90 per share, for a total transaction of $496,260.00. Following the completion of the transaction, the director now directly owns 39,735 shares in the company, valued at approximately $3,651,646.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value of $1,749,478.36. The disclosure for this sale can be found here. 0.07% of the stock is owned by corporate insiders.

ABBV has been the topic of a number of research analyst reports. Deutsche Bank downgraded shares of AbbVie from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $125.86 to $65.61 in a report on Wednesday, May 30th. Goldman Sachs Group downgraded shares of AbbVie from a “conviction-buy” rating to a “buy” rating in a report on Thursday, May 24th. BMO Capital Markets cut their price target on shares of AbbVie from $81.00 to $78.00 and set an “underperform” rating on the stock in a report on Wednesday, May 23rd. Credit Suisse Group cut their price target on shares of AbbVie from $109.00 to $104.00 and set a “neutral” rating on the stock in a report on Friday, April 27th. Finally, Zacks Investment Research downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a report on Saturday, July 14th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $105.88.

NYSE ABBV opened at $98.22 on Friday. The stock has a market cap of $145.07 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 0.87 and a beta of 1.56. AbbVie Inc has a 52 week low of $69.47 and a 52 week high of $125.86. The company has a current ratio of 0.80, a quick ratio of 0.71 and a debt-to-equity ratio of -9.06.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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. The business had revenue of $8.28 billion for the quarter, compared to the consensus estimate of $8.22 billion. AbbVie had a net margin of 20.84% and a return on equity of 362.05%. The company’s revenue was up 19.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.42 earnings per share. analysts anticipate that AbbVie Inc will post 7.86 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Shareholders of record on Friday, July 13th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend was Thursday, July 12th. AbbVie’s dividend payout ratio (DPR) is presently 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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