Prio Wealth Limited Partnership Sells 8,850 Shares of AbbVie Inc (NYSE:ABBV)

Prio Wealth Limited Partnership decreased its stake in shares of AbbVie Inc (NYSE:ABBV) by 5.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 147,420 shares of the company’s stock after selling 8,850 shares during the quarter. Prio Wealth Limited Partnership’s holdings in AbbVie were worth $10,720,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Trust Co. of Oklahoma lifted its position in AbbVie by 2.9% during the first quarter. Trust Co. of Oklahoma now owns 6,710 shares of the company’s stock valued at $541,000 after purchasing an additional 190 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services lifted its position in AbbVie by 1.7% during the second quarter. First National Bank of Mount Dora Trust Investment Services now owns 58,547 shares of the company’s stock valued at $4,257,000 after purchasing an additional 995 shares during the last quarter. First Trust Advisors LP lifted its position in AbbVie by 95.5% during the first quarter. First Trust Advisors LP now owns 1,371,977 shares of the company’s stock valued at $110,568,000 after purchasing an additional 670,186 shares during the last quarter. Sowell Financial Services LLC lifted its position in AbbVie by 8.6% during the fourth quarter. Sowell Financial Services LLC now owns 43,756 shares of the company’s stock valued at $4,034,000 after purchasing an additional 3,464 shares during the last quarter. Finally, Miller Howard Investments Inc. NY bought a new position in AbbVie during the second quarter valued at $8,924,000. Hedge funds and other institutional investors own 68.52% of the company’s stock.

Several equities analysts have commented on ABBV shares. Goldman Sachs Group set a $27.00 price objective on shares of Melco Resorts & Entertainment and gave the company a “buy” rating in a research report on Tuesday, May 28th. ValuEngine lowered shares of Yirendai from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 26th. Citigroup restated a “hold” rating on shares of AbbVie in a report on Wednesday, June 26th. Zacks Investment Research lowered shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, April 5th. Finally, Credit Suisse Group set a $123.00 target price on shares of Hershey and gave the stock a “hold” rating in a report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. AbbVie has a consensus rating of “Hold” and a consensus price target of $92.05.

In related news, EVP William J. Chase purchased 30,400 shares of AbbVie stock in a transaction that occurred on Wednesday, June 26th. The shares were bought at an average price of $67.30 per share, with a total value 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 approximately $11,410,849.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roxanne S. Austin purchased 11,500 shares of AbbVie stock in a transaction that occurred on Wednesday, June 26th. The stock was bought at an average cost of $67.50 per share, for a total transaction of $776,250.00. Following the purchase, the director now directly owns 52,114 shares in the company, valued at $3,517,695. The disclosure for this purchase can be found here. Company insiders own 0.08% of the company’s stock.

Shares of AbbVie stock traded down $0.24 during trading on Wednesday, hitting $66.94. The stock had a trading volume of 1,354,929 shares, compared to its average volume of 10,793,975. The company has a fifty day simple moving average of $72.45. The firm has a market capitalization of $100.17 billion, a PE ratio of 8.46, a PEG ratio of 1.37 and a beta of 0.99. AbbVie Inc has a 12 month low of $65.06 and a 12 month high of $100.23.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.05. The firm had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.09 billion. AbbVie had a net margin of 12.62% and a negative return on equity of 198.18%. The business’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the business earned $2.00 EPS. Equities analysts expect that AbbVie Inc will post 8.9 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 6.39%. The ex-dividend date is Friday, July 12th. AbbVie’s dividend payout ratio is presently 54.11%.

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.

See Also: Asset Allocation

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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