Van Cleef Asset Management Inc Raises Holdings in AbbVie Inc (NYSE:ABBV)

Van Cleef Asset Management Inc lifted its holdings in shares of AbbVie Inc (NYSE:ABBV) by 4.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,577 shares of the company’s stock after purchasing an additional 501 shares during the period. Van Cleef Asset Management Inc’s holdings in AbbVie were worth $915,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ABBV. Lavaca Capital LLC boosted its holdings in shares of AbbVie by 69.2% in the 2nd quarter. Lavaca Capital LLC now owns 49,404 shares of the company’s stock valued at $3,593,000 after purchasing an additional 20,213 shares during the last quarter. Horseman Capital Management Ltd boosted its holdings in shares of AbbVie by 45.5% in the 2nd quarter. Horseman Capital Management Ltd now owns 16,000 shares of the company’s stock valued at $1,164,000 after purchasing an additional 5,000 shares during the last quarter. Ironwood Investment Counsel LLC boosted its holdings in shares of AbbVie by 7.9% in the 2nd quarter. Ironwood Investment Counsel LLC now owns 9,171 shares of the company’s stock valued at $666,000 after purchasing an additional 675 shares during the last quarter. Cedar Wealth Management LLC acquired a new position in shares of AbbVie in the 2nd quarter valued at $44,000. Finally, Ballentine Partners LLC boosted its holdings in shares of AbbVie by 52.1% in the 2nd quarter. Ballentine Partners LLC now owns 12,168 shares of the company’s stock valued at $886,000 after purchasing an additional 4,169 shares during the last quarter. 68.21% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Jeffrey Ryan Stewart purchased 15,552 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average price of $64.44 per share, with a total value of $1,002,170.88. Following the purchase, the senior vice president now directly owns 65,304 shares of the company’s stock, valued at approximately $4,208,189.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nicholas Donoghoe purchased 7,525 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were purchased at an average cost of $66.19 per share, for a total transaction of $498,079.75. Following the purchase, the senior vice president now directly owns 13,090 shares in the company, valued at $866,427.10. The disclosure for this purchase can be found here. In the last three months, insiders bought 159,977 shares of company stock worth $10,626,621. Insiders own 0.08% of the company’s stock.

A number of brokerages have weighed in on ABBV. Wolfe Research upgraded shares of AbbVie from an “underperform” rating to a “peer perform” rating in a report on Thursday, June 27th. ValuEngine lowered shares of AbbVie from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 26th. Svb Leerink upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price target on the stock in a report on Wednesday, June 26th. Citigroup reiterated a “hold” rating on shares of AbbVie in a report on Wednesday, June 26th. Finally, UBS Group upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and decreased their price target for the company from $85.00 to $79.00 in a report on Thursday. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $91.20.

Shares of ABBV stock traded down $0.16 during mid-day trading on Friday, reaching $70.67. The company’s stock had a trading volume of 5,569,966 shares, compared to its average volume of 7,832,565. The company’s 50 day simple moving average is $66.13 and its 200-day simple moving average is $74.81. AbbVie Inc has a 12-month low of $62.66 and a 12-month high of $96.60. The firm has a market capitalization of $100.80 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 1.62 and a beta of 0.95.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 26th. The company reported $2.26 EPS for the quarter, beating the Zacks’ consensus estimate of $2.21 by $0.05. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The business had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same quarter last year, the firm posted $2.00 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities research analysts predict that AbbVie Inc will post 8.9 EPS for the current fiscal year.

The firm also recently announced a — dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $1.07 dividend. This represents a dividend yield of 6.4%. The ex-dividend date is Friday, October 11th. AbbVie’s dividend payout ratio is presently 54.11%.

About AbbVie

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.

Read More: Google Finance Portfolio Tips and Tricks

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.