AbbVie Inc (NYSE:ABBV) Shares Acquired by Cary Street Partner Investment Advisory LLC

Cary Street Partner Investment Advisory LLC lifted its stake in shares of AbbVie Inc (NYSE:ABBV) by 12.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,770 shares of the company’s stock after acquiring an additional 411 shares during the period. Cary Street Partner Investment Advisory LLC’s holdings in AbbVie were worth $370,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ABBV. Integrated Investment Consultants LLC raised its holdings in shares of AbbVie by 1.1% during the 2nd quarter. Integrated Investment Consultants LLC now owns 9,834 shares of the company’s stock valued at $966,000 after buying an additional 109 shares during the period. Old North State Trust LLC raised its holdings in shares of AbbVie by 1.6% during the 2nd quarter. Old North State Trust LLC now owns 7,033 shares of the company’s stock valued at $690,000 after buying an additional 110 shares during the period. Quad Cities Investment Group LLC raised its holdings in shares of AbbVie by 2.9% during the 2nd quarter. Quad Cities Investment Group LLC now owns 4,181 shares of the company’s stock valued at $411,000 after buying an additional 117 shares during the period. Halbert Hargrove Global Advisors LLC raised its holdings in shares of AbbVie by 4.7% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 2,789 shares of the company’s stock valued at $212,000 after buying an additional 125 shares during the period. Finally, NovaPoint Capital LLC raised its holdings in shares of AbbVie by 0.8% during the 1st quarter. NovaPoint Capital LLC now owns 15,707 shares of the company’s stock valued at $1,197,000 after buying an additional 125 shares during the period. 72.40% of the stock is currently owned by institutional investors and hedge funds.

NYSE:ABBV traded down $0.77 during midday trading on Thursday, reaching $94.74. 331,388 shares of the company traded hands, compared to its average volume of 10,502,634. AbbVie Inc has a twelve month low of $62.55 and a twelve month high of $101.28. The firm has a market capitalization of $163.04 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 1.48 and a beta of 0.83. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.86 and a quick ratio of 0.70. The company has a fifty day moving average price of $96.98 and a 200 day moving average price of $88.72.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 31st. The company reported $2.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.14. AbbVie had a negative return on equity of 628.57% and a net margin of 19.20%. The business had revenue of $10.43 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the previous year, the firm posted $2.26 EPS. The business’s revenue for the quarter was up 26.3% compared to the same quarter last year. On average, equities research analysts forecast that AbbVie Inc will post 10.46 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be given a dividend of $1.18 per share. The ex-dividend date of this dividend is Tuesday, July 14th. This represents a $4.72 dividend on an annualized basis and a yield of 4.98%. AbbVie’s dividend payout ratio is currently 52.80%.

Several equities research analysts recently commented on the company. Bank of America assumed coverage on AbbVie in a report on Monday, May 18th. They set a “neutral” rating and a $95.00 target price on the stock. UBS Group raised their target price on AbbVie from $96.00 to $109.00 in a report on Wednesday, June 17th. Evercore ISI initiated coverage on AbbVie in a report on Wednesday, June 10th. They set a “buy” rating and a $111.00 price objective on the stock. SVB Leerink lifted their price objective on AbbVie from $107.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Finally, ValuEngine downgraded AbbVie from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company. AbbVie currently has an average rating of “Buy” and a consensus price target of $107.00.

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 stock was sold at an average price of $100.00, for a total transaction of $5,332,500.00. Following the completion of the transaction, the insider now owns 137,899 shares in the company, valued at approximately $13,789,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.09% of the company’s stock.

AbbVie Company 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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