AbbVie Inc (NYSE:ABBV) Holdings Trimmed by Shelter Mutual Insurance Co

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Shelter Mutual Insurance Co trimmed its position in shares of AbbVie Inc (NYSE:ABBV) by 8.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 67,050 shares of the company’s stock after selling 6,450 shares during the period. Shelter Mutual Insurance Co’s holdings in AbbVie were worth $4,875,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. Van Leeuwen & Company LLC lifted its stake in shares of AbbVie by 4.1% in the 4th quarter. Van Leeuwen & Company LLC now owns 3,296 shares of the company’s stock valued at $304,000 after purchasing an additional 130 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its position in AbbVie by 0.3% during the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 44,147 shares of the company’s stock worth $3,210,000 after acquiring an additional 147 shares during the last quarter. Weatherly Asset Management L. P. lifted its position in AbbVie by 1.8% during the 2nd quarter. Weatherly Asset Management L. P. now owns 8,317 shares of the company’s stock worth $605,000 after acquiring an additional 151 shares during the last quarter. BTIM Corp. lifted its position in AbbVie by 0.6% during the 2nd quarter. BTIM Corp. now owns 27,263 shares of the company’s stock worth $1,983,000 after acquiring an additional 154 shares during the last quarter. Finally, Graves Light Private Wealth Management Inc. lifted its position in AbbVie by 2.2% during the 1st quarter. Graves Light Private Wealth Management Inc. now owns 7,181 shares of the company’s stock worth $579,000 after acquiring an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 68.15% of the company’s stock.

In related news, EVP William J. Chase bought 30,400 shares of AbbVie stock in a transaction dated Wednesday, June 26th. The shares were bought at an average cost of $67.30 per share, for a total transaction of $2,045,920.00. Following the completion of the transaction, the executive vice president now owns 169,552 shares of the company’s stock, valued at $11,410,849.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roxanne S. Austin bought 55,000 shares of AbbVie stock in a transaction dated Thursday, August 1st. The shares were bought at an average price of $65.86 per share, for a total transaction of $3,622,300.00. Following the completion of the transaction, the director now directly owns 92,114 shares of the company’s stock, valued at approximately $6,066,628.04. The disclosure for this purchase can be found here. Insiders have bought 136,900 shares of company stock worth $9,126,370 over the last quarter. 0.08% of the stock is owned by company insiders.

A number of research analysts have weighed in on ABBV shares. BMO Capital Markets raised shares of AbbVie from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $71.00 to $79.00 in a research report on Sunday, April 28th. Leerink Swann raised shares of AbbVie to a “buy” rating in a research report on Tuesday, July 2nd. Credit Suisse Group set a $78.00 target price on shares of AbbVie and gave the stock a “sell” rating in a research report on Friday, April 26th. Svb Leerink raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 target price for the company in a research report on Wednesday, June 26th. Finally, ValuEngine lowered shares of AbbVie from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 26th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $92.05.

AbbVie stock traded down $0.13 during trading hours on Thursday, hitting $63.37. 254,581 shares of the stock were exchanged, compared to its average volume of 10,238,484. The stock has a market capitalization of $95.41 billion, a PE ratio of 8.00, a P/E/G ratio of 1.54 and a beta of 0.96. AbbVie Inc has a 12 month low of $63.31 and a 12 month high of $100.23. The stock has a 50-day moving average of $68.73.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 26th. The company reported $2.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.05. The firm had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.09 billion. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.00 earnings per share. On average, sell-side analysts anticipate that AbbVie Inc will post 8.88 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $4.28 annualized dividend and a yield of 6.75%. AbbVie’s dividend payout ratio is 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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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