AbbVie Inc (ABBV) Position Decreased by Signature Financial Management Inc.

Signature Financial Management Inc. cut its holdings in shares of AbbVie Inc (NYSE:ABBV) by 22.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,157 shares of the company’s stock after selling 935 shares during the quarter. Signature Financial Management Inc.’s holdings in AbbVie were worth $293,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Morgan Stanley grew its holdings in AbbVie by 3.2% in the 2nd quarter. Morgan Stanley now owns 11,134,470 shares of the company’s stock valued at $1,031,608,000 after buying an additional 348,882 shares in the last quarter. Janus Henderson Group PLC grew its holdings in AbbVie by 15.9% in the 2nd quarter. Janus Henderson Group PLC now owns 5,243,956 shares of the company’s stock valued at $485,867,000 after buying an additional 717,452 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in AbbVie by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,824,617 shares of the company’s stock valued at $447,001,000 after buying an additional 157,594 shares in the last quarter. Franklin Resources Inc. grew its holdings in AbbVie by 8.5% in the 1st quarter. Franklin Resources Inc. now owns 4,359,665 shares of the company’s stock valued at $412,643,000 after buying an additional 340,709 shares in the last quarter. Finally, Aristotle Capital Management LLC grew its holdings in AbbVie by 0.9% in the 1st quarter. Aristotle Capital Management LLC now owns 3,787,873 shares of the company’s stock valued at $358,522,000 after buying an additional 34,727 shares in the last quarter. 69.37% of the stock is currently owned by institutional investors and hedge funds.

ABBV opened at $81.36 on Tuesday. The firm has a market cap of $122.34 billion, a PE ratio of 14.53, a P/E/G ratio of 0.80 and a beta of 1.54. AbbVie Inc has a 52-week low of $79.26 and a 52-week high of $125.86. The company has a current ratio of 0.80, a quick ratio of 0.71 and a debt-to-equity ratio of 8.70.



The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend is Friday, October 12th. AbbVie’s dividend payout ratio (DPR) is currently 68.57%.

In other news, EVP Michael Severino sold 50,000 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the sale, the executive vice president now directly owns 111,481 shares of the company’s stock, valued at approximately $10,871,627.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.07% of the company’s stock.

A number of research analysts have commented on ABBV shares. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $100.00 price objective on shares of AbbVie in a report on Friday, July 27th. BMO Capital Markets reaffirmed a “sell” rating and issued a $78.00 price objective on shares of AbbVie in a report on Wednesday, August 22nd. Wolfe Research started coverage on AbbVie in a report on Tuesday, October 23rd. They issued an “underperform” rating on the stock. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a report on Monday, October 1st. Finally, ValuEngine lowered AbbVie from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. AbbVie presently has a consensus rating of “Hold” and a consensus target price of $105.68.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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