Gyroscope Capital Management Group LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 21.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 19,603 shares of the company’s stock after selling 5,371 shares during the quarter. Gyroscope Capital Management Group LLC’s holdings in AbbVie were worth $1,717,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ABBV. Public Employees Retirement Association of Colorado raised its holdings in AbbVie by 4.0% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 280,474 shares of the company’s stock worth $21,369,000 after purchasing an additional 10,738 shares in the last quarter. Gabelli Funds LLC raised its holdings in AbbVie by 107.5% in the 1st quarter. Gabelli Funds LLC now owns 8,300 shares of the company’s stock worth $632,000 after purchasing an additional 4,300 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in AbbVie by 56.8% in the 1st quarter. Thrivent Financial for Lutherans now owns 132,229 shares of the company’s stock worth $10,082,000 after purchasing an additional 47,907 shares in the last quarter. Driehaus Capital Management LLC bought a new position in AbbVie in the 1st quarter worth $203,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of AbbVie in the 1st quarter worth about $382,000. Institutional investors own 68.23% of the company’s stock.

Shares of ABBV stock opened at $86.27 on Friday. AbbVie Inc. has a one year low of $62.55 and a one year high of $101.28. The company’s 50-day moving average is $89.38 and its 200 day moving average is $90.44. The company has a market capitalization of $152.25 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74. The company has a debt-to-equity ratio of 5.57, a quick ratio of 0.70 and a current ratio of 0.86.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 31st. The company reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.14. The firm had revenue of $10.43 billion for the quarter, compared to the consensus estimate of $10.14 billion. AbbVie had a net margin of 19.20% and a negative return on equity of 628.57%. The business’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.26 EPS. As a group, research analysts predict that AbbVie Inc. will post 10.44 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be issued a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date of this dividend is Wednesday, October 14th. AbbVie’s payout ratio is presently 52.80%.

ABBV has been the topic of a number of recent research reports. Atlantic Securities raised shares of AbbVie from a “neutral” rating to an “overweight” rating and set a $115.00 target price on the stock in a research report on Tuesday, June 23rd. Berenberg Bank initiated coverage on shares of AbbVie in a research report on Tuesday, September 29th. They issued a “hold” rating and a $98.00 target price on the stock. Morgan Stanley upped their target price on shares of AbbVie from $95.00 to $108.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. JPMorgan Chase & Co. upped their target price on shares of AbbVie from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Mizuho reaffirmed a “buy” rating and issued a $111.00 target price on shares of AbbVie in a research report on Sunday, September 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $108.63.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, 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; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; 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.

Further Reading: How Do Front-End Loads Impact an Investment?

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV).

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.