Stock Yards Bank & Trust Co. lessened its holdings in shares of AbbVie Inc (NYSE:ABBV) by 0.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,988 shares of the company’s stock after selling 224 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in AbbVie were worth $4,024,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Efficient Wealth Management LLC bought a new stake in shares of AbbVie in the 1st quarter worth approximately $27,000. Lion Street Advisors LLC bought a new stake in shares of AbbVie in the 1st quarter worth approximately $29,000. Americana Partners LLC bought a new stake in shares of AbbVie in the 4th quarter worth approximately $32,000. Marquette Asset Management LLC lifted its holdings in shares of AbbVie by 200.0% in the 1st quarter. Marquette Asset Management LLC now owns 450 shares of the company’s stock worth $34,000 after purchasing an additional 300 shares during the last quarter. Finally, Horrell Capital Management Inc. bought a new stake in shares of AbbVie in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 72.40% of the company’s stock.

In related news, Vice Chairman Carlos Alban sold 53,325 shares of AbbVie stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $100.00, for a total transaction of $5,332,500.00. Following the completion of the sale, the insider now owns 137,899 shares of the company’s stock, valued at $13,789,900. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Jeffrey Ryan Stewart sold 23,024 shares of AbbVie stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $90.00, for a total value of $2,072,160.00. Following the sale, the senior vice president now directly owns 52,760 shares of the company’s stock, valued at approximately $4,748,400. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,794 shares of company stock valued at $9,057,485. Insiders own 0.09% of the company’s stock.

A number of analysts have recently commented on the company. Morgan Stanley reissued an “overweight” rating and issued a $95.00 price objective on shares of AbbVie in a research note on Monday, May 11th. Argus raised AbbVie from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $91.40 to $115.00 in a research note on Tuesday, June 2nd. Royal Bank of Canada lifted their target price on AbbVie from $102.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, June 25th. They noted that the move was a valuation call. UBS Group lifted their target price on AbbVie from $96.00 to $109.00 in a report on Wednesday, June 17th. Finally, Mizuho lifted their target price on AbbVie from $101.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, June 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $106.80.

Shares of ABBV stock traded up $1.01 on Tuesday, reaching $98.87. 6,756,043 shares of the company’s stock traded hands, compared to its average volume of 11,111,975. AbbVie Inc has a 12-month low of $62.55 and a 12-month high of $100.69. The company has a market capitalization of $142.99 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 2.08 and a beta of 0.86. The business’s 50 day moving average price is $95.18 and its two-hundred day moving average price is $87.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, May 1st. The company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.17. The business had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.31 billion. AbbVie had a negative return on equity of 169.80% and a net margin of 24.77%. AbbVie’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.14 earnings per share. On average, equities research analysts expect that AbbVie Inc will post 10.5 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be given a dividend of $1.18 per share. The ex-dividend date is Tuesday, July 14th. This represents a $4.72 dividend on an annualized basis and a yield of 4.77%. AbbVie’s payout ratio is 52.80%.

AbbVie Company 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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