AbbVie Inc (NYSE:ABBV) Shares Sold by Eagle Ridge Investment Management

Eagle Ridge Investment Management decreased its position in AbbVie Inc (NYSE:ABBV) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,664 shares of the company’s stock after selling 861 shares during the quarter. Eagle Ridge Investment Management’s holdings in AbbVie were worth $7,393,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of AbbVie during the fourth quarter valued at $1,300,469,000. FMR LLC lifted its holdings in shares of AbbVie by 56.5% during the first quarter. FMR LLC now owns 13,200,141 shares of the company’s stock valued at $1,063,799,000 after purchasing an additional 4,765,946 shares during the last quarter. Thoroughbred Financial Services LLC lifted its holdings in shares of AbbVie by 7,659.9% during the second quarter. Thoroughbred Financial Services LLC now owns 1,010,494 shares of the company’s stock valued at $101,049,000 after purchasing an additional 997,472 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of AbbVie by 61.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 2,565,005 shares of the company’s stock valued at $186,527,000 after purchasing an additional 979,638 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of AbbVie by 3,115.3% during the fourth quarter. Bessemer Group Inc. now owns 947,643 shares of the company’s stock valued at $87,362,000 after purchasing an additional 918,170 shares during the last quarter. Institutional investors and hedge funds own 68.15% of the company’s stock.

NYSE:ABBV traded down $0.30 during trading hours on Thursday, hitting $63.20. 4,340,080 shares of the company’s stock traded hands, compared to its average volume of 10,238,484. The stock has a market cap of $95.41 billion, a price-to-earnings ratio of 7.99, a P/E/G ratio of 1.54 and a beta of 0.96. AbbVie Inc has a twelve month low of $63.31 and a twelve month high of $100.23. The stock has a fifty day moving average price of $68.73.



AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 26th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.05. The firm had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.09 billion. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. AbbVie’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.00 earnings per share. Equities analysts predict that AbbVie Inc will post 8.88 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 6.77%. The ex-dividend date is Friday, July 12th. AbbVie’s payout ratio is 54.11%.

In other news, Director Roxanne S. Austin bought 11,500 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were bought at an average cost of $67.50 per share, with a total value of $776,250.00. Following the transaction, the director now directly owns 52,114 shares in the company, valued at approximately $3,517,695. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Roxanne S. Austin bought 55,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was purchased at an average cost of $65.86 per share, for a total transaction of $3,622,300.00. Following the completion of the transaction, the director now owns 92,114 shares in the company, valued at $6,066,628.04. The disclosure for this purchase can be found here. Insiders have purchased 136,900 shares of company stock worth $9,126,370 over the last three months. 0.08% of the stock is owned by insiders.

Several equities research analysts have recently commented on ABBV shares. Svb Leerink raised AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 target price for the company in a report on Wednesday, June 26th. Citigroup reaffirmed a “hold” rating on shares of AbbVie in a report on Wednesday, June 26th. Goldman Sachs Group initiated coverage on AbbVie in a report on Tuesday, May 28th. They set a “neutral” rating and a $84.00 target price for the company. Wolfe Research raised AbbVie from an “underperform” rating to a “peer perform” rating in a research report on Thursday, June 27th. Finally, Piper Jaffray Companies set a $80.00 price target on AbbVie and gave the company a “hold” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. AbbVie currently has an average rating of “Hold” and a consensus target price of $92.05.

About AbbVie

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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