Capital Investment Advisors LLC boosted its position in AbbVie Inc (NYSE:ABBV) by 27.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 34,773 shares of the company’s stock after purchasing an additional 7,546 shares during the period. Capital Investment Advisors LLC’s holdings in AbbVie were worth $3,222,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Covington Capital Management lifted its position in AbbVie by 0.8% in the fourth quarter. Covington Capital Management now owns 55,518 shares of the company’s stock valued at $5,369,000 after purchasing an additional 449 shares during the last quarter. San Francisco Sentry Investment Group CA lifted its position in AbbVie by 15.3% in the fourth quarter. San Francisco Sentry Investment Group CA now owns 3,386 shares of the company’s stock valued at $327,000 after purchasing an additional 450 shares during the last quarter. GHP Investment Advisors Inc. lifted its position in AbbVie by 8.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 5,970 shares of the company’s stock valued at $577,000 after purchasing an additional 455 shares during the last quarter. Annex Advisory Services LLC lifted its position in AbbVie by 1.1% in the fourth quarter. Annex Advisory Services LLC now owns 43,287 shares of the company’s stock valued at $4,186,000 after purchasing an additional 478 shares during the last quarter. Finally, Crescent Grove Advisors LLC lifted its position in AbbVie by 4.2% in the first quarter. Crescent Grove Advisors LLC now owns 12,457 shares of the company’s stock valued at $1,179,000 after purchasing an additional 500 shares during the last quarter. 69.09% of the stock is owned by institutional investors and hedge funds.

Several analysts have weighed in on the company. Berenberg Bank assumed coverage on AbbVie in a research report on Thursday, July 12th. They issued a “hold” rating and a $105.00 price objective for the company. BMO Capital Markets reiterated a “sell” rating and issued a $78.00 price objective on shares of AbbVie in a research report on Friday, July 27th. Credit Suisse Group downgraded AbbVie from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $104.00 to $89.00 in a research report on Tuesday, May 29th. Cowen set a $110.00 price objective on AbbVie and gave the company a “buy” rating in a research report on Friday, July 27th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $100.00 target price on shares of AbbVie in a report on Friday, July 27th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $105.88.

In other news, Director Edward J. Rapp purchased 1,013 shares of AbbVie stock in a transaction that occurred on Wednesday, June 20th. The shares were bought at an average cost of $98.63 per share, with a total value of $99,912.19. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Glenn F. Tilton purchased 5,400 shares of AbbVie stock in a transaction that occurred on Wednesday, June 27th. The stock was purchased at an average cost of $91.90 per share, for a total transaction of $496,260.00. Following the completion of the purchase, the director now owns 39,735 shares of the company’s stock, valued at $3,651,646.50. The disclosure for this purchase can be found here. 0.07% of the stock is owned by corporate insiders.

Shares of AbbVie stock opened at $97.06 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.20 and a debt-to-equity ratio of 8.70. The company has a market cap of $153.18 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 0.88 and a beta of 1.56. AbbVie Inc has a 52 week low of $69.47 and a 52 week high of $125.86.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 27th. The company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.02. The company had revenue of $8.28 billion during the quarter, compared to the consensus estimate of $8.22 billion. AbbVie had a return on equity of 211.78% and a net margin of 20.84%. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.42 earnings per share. equities analysts predict that AbbVie Inc will post 7.86 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Investors of record on Friday, July 13th will be issued a dividend of $0.96 per share. The ex-dividend date is Thursday, July 12th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.96%. AbbVie’s dividend payout ratio is presently 68.57%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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