Pinnacle Associates Ltd. grew its holdings in AbbVie Inc. (NYSE:ABBV) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 163,942 shares of the company’s stock after purchasing an additional 4,638 shares during the period. Pinnacle Associates Ltd.’s holdings in AbbVie were worth $11,887,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Acropolis Investment Management LLC purchased a new stake in shares of AbbVie during the second quarter worth $106,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in shares of AbbVie during the first quarter worth $108,000. Hudock Capital Group LLC raised its holdings in shares of AbbVie by 109.5% during the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after acquiring an additional 806 shares in the last quarter. BDO Wealth Advisors LLC purchased a new stake in shares of AbbVie during the second quarter worth $115,000. Finally, Tradewinds Capital Management LLC raised its holdings in shares of AbbVie by 87.2% during the first quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock worth $148,000 after acquiring an additional 1,057 shares in the last quarter. Institutional investors own 69.32% of the company’s stock.

Several analysts recently issued reports on ABBV shares. Societe Generale increased their price objective on AbbVie in a report on Tuesday, November 21st. Jefferies Group reiterated a “buy” rating and set a $107.00 price objective (up from $94.00) on shares of AbbVie in a report on Friday, September 15th. Piper Jaffray Companies reiterated a “buy” rating and set a $100.00 price objective on shares of AbbVie in a report on Friday, September 15th. SunTrust Banks reiterated a “buy” rating and set a $95.00 price objective on shares of AbbVie in a report on Wednesday, September 13th. Finally, Goldman Sachs Group reiterated a “buy” rating and set a $100.00 price objective (up from $85.00) on shares of AbbVie in a report on Friday, September 8th. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $96.72.

In other news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $85.02, for a total value of $705,666.00. Following the sale, the senior vice president now directly owns 93,099 shares of the company’s stock, valued at $7,915,276.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael Severino sold 25,633 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $94.69, for a total value of $2,427,188.77. Following the completion of the sale, the executive vice president now directly owns 114,922 shares in the company, valued at $10,881,964.18. The disclosure for this sale can be found here. Insiders have sold 277,125 shares of company stock worth $25,891,756 over the last three months. Company insiders own 0.23% of the company’s stock.

AbbVie Inc. (ABBV) opened at $96.32 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08. The company has a market cap of $154,725.98, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 1.37 and a beta of 1.52. AbbVie Inc. has a 1 year low of $58.80 and a 1 year high of $98.52.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 earnings per share. equities analysts anticipate that AbbVie Inc. will post 5.55 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.95%. This is an increase from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio is presently 62.29%.

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AbbVie Profile

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.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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