AbbVie Inc (NYSE:ABBV) Shares Sold by Evanson Asset Management LLC

Evanson Asset Management LLC trimmed its position in AbbVie Inc (NYSE:ABBV) by 11.8% in the third quarter, Holdings Channel reports. The firm owned 3,609 shares of the company’s stock after selling 484 shares during the quarter. Evanson Asset Management LLC’s holdings in AbbVie were worth $273,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ABBV. Vanguard Group Inc. boosted its stake in AbbVie by 0.6% in the second quarter. Vanguard Group Inc. now owns 121,523,538 shares of the company’s stock valued at $8,837,192,000 after acquiring an additional 679,398 shares during the period. BlackRock Inc. boosted its stake in AbbVie by 3.3% in the second quarter. BlackRock Inc. now owns 98,295,272 shares of the company’s stock valued at $7,148,030,000 after acquiring an additional 3,100,309 shares during the period. FMR LLC boosted its stake in AbbVie by 56.5% in the first quarter. FMR LLC now owns 13,200,141 shares of the company’s stock valued at $1,063,799,000 after acquiring an additional 4,765,946 shares during the period. Nuveen Asset Management LLC boosted its stake in AbbVie by 1,715.8% in the second quarter. Nuveen Asset Management LLC now owns 9,593,845 shares of the company’s stock valued at $697,664,000 after acquiring an additional 9,065,487 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in AbbVie by 2.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 6,613,086 shares of the company’s stock valued at $480,904,000 after acquiring an additional 182,795 shares during the period. Institutional investors and hedge funds own 68.14% of the company’s stock.

In other news, Director Roxanne S. Austin bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were purchased at an average price of $66.35 per share, with a total value of $663,500.00. Following the completion of the acquisition, the director now directly owns 62,114 shares in the company, valued at $4,121,263.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Istar Inc. bought 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average cost of $28.52 per share, for a total transaction of $1,140,800.00. In the last three months, insiders have purchased 183,077 shares of company stock worth $10,705,751. 0.08% of the stock is owned by corporate insiders.

ABBV has been the subject of a number of research reports. Cowen set a $90.00 target price on AbbVie and gave the company a “buy” rating in a research note on Tuesday, September 24th. TheStreet downgraded AbbVie from a “b-” rating to a “c” rating in a research note on Monday, August 26th. UBS Group upgraded AbbVie from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $85.00 to $79.00 in a research report on Thursday, September 12th. Citigroup upgraded AbbVie from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $87.00 to $90.00 in a research report on Thursday, September 26th. Finally, Svb Leerink upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $89.97.

Shares of NYSE ABBV traded down $0.38 during midday trading on Friday, hitting $74.07. 4,555,792 shares of the company’s stock were exchanged, compared to its average volume of 7,972,179. The stock’s 50 day moving average price is $70.30 and its 200-day moving average price is $73.90. The firm has a market cap of $108.71 billion, a P/E ratio of 9.36, a PEG ratio of 1.50 and a beta of 0.99. AbbVie Inc has a twelve month low of $62.66 and a twelve month high of $94.98.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 26th. The company reported $2.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.05. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The firm had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.09 billion. During the same quarter in the previous year, the company earned $2.00 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. As a group, equities research analysts predict that AbbVie Inc will post 8.9 earnings per share for the current fiscal year.

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

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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