Gulf International Bank UK Ltd decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.6% during the second quarter, Holdings Channel reports. The fund owned 499,499 shares of the company’s stock after selling 7,925 shares during the period. Gulf International Bank UK Ltd’s holdings in AbbVie were worth $36,218,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp raised its stake in AbbVie by 2.4% in the first quarter. State Street Corp now owns 72,969,530 shares of the company’s stock valued at $4,754,696,000 after buying an additional 1,696,042 shares during the last quarter. Legal & General Group Plc raised its stake in AbbVie by 4.1% in the first quarter. Legal & General Group Plc now owns 7,918,192 shares of the company’s stock valued at $515,956,000 after buying an additional 312,055 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in AbbVie by 2.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 5,136,674 shares of the company’s stock valued at $334,706,000 after buying an additional 130,740 shares during the last quarter. Aristotle Capital Management LLC raised its stake in AbbVie by 3.5% in the first quarter. Aristotle Capital Management LLC now owns 4,526,623 shares of the company’s stock valued at $294,954,000 after buying an additional 154,719 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in AbbVie by 6.5% in the first quarter. Canada Pension Plan Investment Board now owns 3,151,990 shares of the company’s stock valued at $205,384,000 after buying an additional 193,410 shares during the last quarter. Hedge funds and other institutional investors own 67.69% of the company’s stock.

Shares of AbbVie Inc. (NYSE:ABBV) traded up 0.66% during mid-day trading on Friday, reaching $70.31. 1,981,204 shares of the company’s stock traded hands. The company has a market cap of $112.08 billion, a price-to-earnings ratio of 17.29 and a beta of 1.50. The company has a 50 day moving average of $71.79 and a 200 day moving average of $67.03. AbbVie Inc. has a 12 month low of $55.06 and a 12 month high of $75.04.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.02. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The firm had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the previous year, the firm earned $1.26 earnings per share. The company’s revenue was up 7.6% compared to the same quarter last year. Analysts expect that AbbVie Inc. will post $5.52 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th were paid a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend was Wednesday, July 12th. AbbVie’s dividend payout ratio (DPR) is presently 62.90%.

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Several equities research analysts have recently weighed in on the stock. Vetr lowered shares of AbbVie from a “buy” rating to a “hold” rating and set a $76.28 target price on the stock. in a report on Thursday, July 20th. Leerink Swann reissued a “market perform” rating on shares of AbbVie in a report on Thursday, June 22nd. Deutsche Bank AG reissued a “hold” rating and set a $66.00 price objective (up previously from $65.00) on shares of AbbVie in a report on Monday, July 17th. Jefferies Group LLC reissued a “buy” rating and set a $94.00 price objective (up previously from $92.00) on shares of AbbVie in a report on Monday, July 17th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $74.00 price objective (up previously from $65.00) on shares of AbbVie in a report on Thursday, July 20th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $76.02.

In other AbbVie news, EVP Carlos Alban sold 45,800 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $70.00, for a total value of $3,206,000.00. Following the transaction, the executive vice president now directly owns 160,545 shares of the company’s stock, valued at $11,238,150. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Laura J. Schumacher sold 79,800 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $70.00, for a total value of $5,586,000.00. Following the completion of the transaction, the insider now directly owns 187,625 shares in the company, valued at $13,133,750. The disclosure for this sale can be found here. Over the last three months, insiders sold 490,491 shares of company stock worth $34,684,639. Insiders own 0.23% of the company’s stock.

About AbbVie

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. 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 virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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