Evercore Wealth Management LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 1.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 103,112 shares of the company’s stock after selling 1,037 shares during the period. Evercore Wealth Management LLC’s holdings in AbbVie were worth $6,383,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ABBV. Alexandria Capital LLC raised its stake in shares of AbbVie by 0.3% in the second quarter. Alexandria Capital LLC now owns 4,543 shares of the company’s stock valued at $281,000 after buying an additional 14 shares during the period. Bollard Group LLC raised its stake in shares of AbbVie by 0.5% in the second quarter. Bollard Group LLC now owns 3,693 shares of the company’s stock valued at $229,000 after buying an additional 17 shares during the period. Lathrop Investment Management Corp raised its stake in shares of AbbVie by 0.3% in the second quarter. Lathrop Investment Management Corp now owns 6,335 shares of the company’s stock valued at $392,000 after buying an additional 21 shares during the period. Texan Capital Management raised its stake in shares of AbbVie by 0.4% in the second quarter. Texan Capital Management now owns 8,312 shares of the company’s stock valued at $515,000 after buying an additional 33 shares during the period. Finally, Zions Bancorporation raised its stake in shares of AbbVie by 0.4% in the first quarter. Zions Bancorporation now owns 8,271 shares of the company’s stock valued at $478,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 68.46% of the company’s stock.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

AbbVie Inc. (NYSE:ABBV) traded down 1.91% during mid-day trading on Friday, reaching $60.52. The company had a trading volume of 7,023,246 shares. The firm’s 50-day moving average is $61.23 and its 200-day moving average is $62.77. The firm has a market capitalization of $98.35 billion, a P/E ratio of 16.36 and a beta of 1.55. AbbVie Inc. has a one year low of $50.71 and a one year high of $68.12.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 28th. The company reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.01. The company had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.55 billion. AbbVie had a return on equity of 150.77% and a net margin of 24.08%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.13 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post $4.82 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 13th will be issued a dividend of $0.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $0.57. This represents a $2.56 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Wednesday, January 11th. AbbVie’s payout ratio is 61.62%.

ABBV has been the topic of several analyst reports. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $78.00 price target on shares of AbbVie in a report on Tuesday, September 27th. Citigroup Inc. reaffirmed a “buy” rating on shares of AbbVie in a report on Tuesday, November 8th. Vetr raised shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $72.59 target price on the stock in a report on Thursday, September 8th. Leerink Swann reaffirmed a “hold” rating on shares of AbbVie in a report on Tuesday, November 8th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $66.00 target price on shares of AbbVie in a report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $69.83.

In other news, insider Laura J. Schumacher sold 50,000 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $65.00, for a total transaction of $3,250,000.00. Following the sale, the insider now directly owns 144,138 shares in the company, valued at $9,368,970. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

About AbbVie

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company operates in pharmaceutical products segment. Its products are focused on treating conditions, such as chronic autoimmune diseases, in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions.

5 Day Chart for NYSE:ABBV

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