Westbourne Investment Advisors Inc. Sells 385 Shares of AbbVie Inc (NYSE:ABBV)

Westbourne Investment Advisors Inc. lowered its stake in shares of AbbVie Inc (NYSE:ABBV) by 2.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,740 shares of the company’s stock after selling 385 shares during the quarter. Westbourne Investment Advisors Inc.’s holdings in AbbVie were worth $1,040,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ABBV. Nuveen Asset Management LLC grew its holdings in AbbVie by 1,715.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 9,593,845 shares of the company’s stock worth $697,664,000 after acquiring an additional 9,065,487 shares during the last quarter. BlackRock Inc. grew its holdings in AbbVie by 3.3% during the 2nd quarter. BlackRock Inc. now owns 98,295,272 shares of the company’s stock worth $7,148,030,000 after acquiring an additional 3,100,309 shares during the last quarter. Putnam Investments LLC boosted its stake in shares of AbbVie by 433.3% in the 2nd quarter. Putnam Investments LLC now owns 3,634,868 shares of the company’s stock valued at $264,327,000 after purchasing an additional 2,953,331 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of AbbVie by 81.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,176,070 shares of the company’s stock valued at $376,404,000 after purchasing an additional 2,326,510 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of AbbVie by 83.4% in the 2nd quarter. Renaissance Technologies LLC now owns 4,538,542 shares of the company’s stock valued at $330,043,000 after purchasing an additional 2,064,486 shares during the last quarter. 68.22% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:ABBV traded up $1.29 during mid-day trading on Tuesday, reaching $78.59. The stock had a trading volume of 3,030,215 shares, compared to its average volume of 7,524,211. The firm has a market cap of $113.04 billion, a PE ratio of 9.94, a price-to-earnings-growth ratio of 1.56 and a beta of 0.99. The firm has a 50 day simple moving average of $72.25 and a two-hundred day simple moving average of $73.62. AbbVie Inc has a twelve month low of $62.66 and a twelve month high of $94.98.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 26th. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.05. The business had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.09 billion. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. AbbVie’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the company posted $2.00 EPS. On average, equities research analysts expect that AbbVie Inc will post 8.93 EPS for the current fiscal year.

The business also recently announced a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a yield of 6.4%. AbbVie’s dividend payout ratio (DPR) is currently 54.11%.

ABBV has been the topic of several recent research reports. Cowen set a $90.00 target price on shares of AbbVie and gave the company a “buy” rating in a research note on Tuesday, September 24th. Leerink Swann raised shares of AbbVie to a “buy” rating in a research note on Tuesday, July 2nd. Citigroup raised shares of AbbVie from a “neutral” rating to a “buy” rating and raised their target price for the company from $87.00 to $90.00 in a research note on Thursday, September 26th. ValuEngine raised shares of AbbVie from a “strong sell” rating to a “sell” rating in a research note on Monday, September 30th. Finally, Wolfe Research upgraded shares of AbbVie from an “underperform” rating to a “peer perform” rating in a research report on Thursday, June 27th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $89.97.

In related news, major shareholder Istar Inc. bought 40,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $28.52 per share, for a total transaction of $1,140,800.00. Also, Director Roxanne S. Austin bought 10,000 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were bought at an average price of $66.35 per share, for a total transaction of $663,500.00. Following the completion of the acquisition, the director now directly owns 62,114 shares in the company, valued at approximately $4,121,263.90. The disclosure for this purchase can be found here. Insiders have acquired a total of 183,077 shares of company stock worth $10,705,751 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

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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