AbbVie Inc (ABBV) Stake Decreased by Global X Management Co LLC

Global X Management Co LLC cut its position in shares of AbbVie Inc (NYSE:ABBV) by 5.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,007 shares of the company’s stock after selling 1,765 shares during the quarter. Global X Management Co LLC’s holdings in AbbVie were worth $2,687,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Cornerstone Wealth Management LLC grew its holdings in AbbVie by 8,774.3% in the second quarter. Cornerstone Wealth Management LLC now owns 1,102,183 shares of the company’s stock worth $11,837,000 after purchasing an additional 1,089,763 shares during the period. SeaCrest Wealth Management LLC grew its holdings in AbbVie by 43.1% in the second quarter. SeaCrest Wealth Management LLC now owns 34,815 shares of the company’s stock worth $3,226,000 after purchasing an additional 10,483 shares during the period. Lynch & Associates IN grew its holdings in AbbVie by 1.8% in the second quarter. Lynch & Associates IN now owns 60,094 shares of the company’s stock worth $5,568,000 after purchasing an additional 1,037 shares during the period. Riverhead Capital Management LLC grew its holdings in AbbVie by 10.0% in the second quarter. Riverhead Capital Management LLC now owns 117,611 shares of the company’s stock worth $10,897,000 after purchasing an additional 10,702 shares during the period. Finally, Highbridge Capital Management LLC grew its holdings in AbbVie by 2,285.6% in the first quarter. Highbridge Capital Management LLC now owns 120,206 shares of the company’s stock worth $11,377,000 after purchasing an additional 125,706 shares during the period. Institutional investors own 69.37% of the company’s stock.

ABBV opened at $81.59 on Wednesday. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.71 and a current ratio of 0.80. AbbVie Inc has a fifty-two week low of $79.26 and a fifty-two week high of $125.86. The stock has a market cap of $122.34 billion, a P/E ratio of 12.04, a PEG ratio of 0.80 and a beta of 1.54.



The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date of this dividend is Friday, October 12th. AbbVie’s payout ratio is currently 68.57%.

In related news, EVP Michael Severino sold 50,000 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the transaction, the executive vice president now directly owns 111,481 shares of the company’s stock, valued at $10,871,627.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by company insiders.

ABBV has been the subject of a number of research reports. Credit Suisse Group set a $85.00 price target on shares of AbbVie and gave the stock a “sell” rating in a report on Saturday, October 20th. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a report on Monday, October 1st. Bank of America reduced their price objective on shares of AbbVie from $107.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, October 4th. Wolfe Research started coverage on shares of AbbVie in a report on Tuesday, October 23rd. They set an “underperform” rating for the company. Finally, SunTrust Banks reduced their price objective on shares of AbbVie from $157.00 to $135.00 and set a “buy” rating for the company in a report on Monday, October 22nd. Six research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. AbbVie presently has a consensus rating of “Hold” and a consensus target price of $105.68.

AbbVie Company 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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