First Business Financial Services Inc. Sells 200 Shares of AbbVie Inc (NYSE:ABBV)

First Business Financial Services Inc. lessened its stake in AbbVie Inc (NYSE:ABBV) by 2.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,287 shares of the company’s stock after selling 200 shares during the quarter. First Business Financial Services Inc.’s holdings in AbbVie were worth $552,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Arbor Wealth Management LLC purchased a new position in AbbVie in the 2nd quarter valued at approximately $28,000. Lowe Wealth Advisors LLC grew its stake in AbbVie by 206.7% in the 2nd quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock valued at $33,000 after buying an additional 310 shares in the last quarter. Horrell Capital Management Inc. purchased a new position in shares of AbbVie during the 2nd quarter valued at $33,000. TD Capital Management LLC purchased a new position in shares of AbbVie during the 2nd quarter valued at $33,000. Finally, Financial Gravity Wealth Inc. grew its position in shares of AbbVie by 82.9% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 503 shares of the company’s stock valued at $37,000 after purchasing an additional 228 shares in the last quarter. 68.38% of the stock is currently owned by institutional investors.

Shares of NYSE ABBV traded up $3.20 during mid-day trading on Friday, reaching $85.21. 11,307,381 shares of the company were exchanged, compared to its average volume of 7,972,123. AbbVie Inc has a 52 week low of $62.66 and a 52 week high of $94.98. The stock has a market capitalization of $121.00 billion, a PE ratio of 10.77, a PEG ratio of 2.04 and a beta of 0.98. The company’s 50 day moving average price is $76.28 and its 200 day moving average price is $73.49.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, November 1st. The company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.04. AbbVie had a net margin of 9.90% and a negative return on equity of 155.71%. The company had revenue of $8.48 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the previous year, the firm posted $2.14 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. Equities analysts anticipate that AbbVie Inc will post 8.93 EPS for the current year.

The business also recently disclosed a — dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.07 per share. This represents a dividend yield of 6.4%. The ex-dividend date of this dividend is Friday, October 11th. AbbVie’s dividend payout ratio is currently 54.11%.

A number of research analysts have recently commented on the stock. UBS Group upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and reduced their price target for the company from $85.00 to $79.00 in a research report on Thursday, September 12th. Cowen set a $90.00 price target on shares of AbbVie and gave the company a “buy” rating in a research report on Tuesday, September 24th. TheStreet lowered shares of AbbVie from a “b-” rating to a “c” rating in a research report on Monday, August 26th. Piper Jaffray Companies boosted their price target on shares of AbbVie from $81.00 to $90.00 in a research report on Friday, November 1st. Finally, ValuEngine upgraded shares of AbbVie from a “strong sell” rating to a “sell” rating in a research report on Monday, September 30th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. AbbVie currently has a consensus rating of “Hold” and a consensus target price of $84.88.

In related news, major shareholder Istar Inc. acquired 40,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $28.52 per share, with a total value of $1,140,800.00. Also, EVP Timothy J. Richmond sold 15,515 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $75.02, for a total transaction of $1,163,935.30. The disclosure for this sale can be found here. Insiders have bought a total of 88,077 shares of company stock valued at $4,401,551 over the last ninety days. 0.08% of the stock is currently owned by insiders.

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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