Old North State Trust LLC decreased its position in AbbVie Inc (NYSE:ABBV) by 17.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,031 shares of the company’s stock after selling 1,447 shares during the quarter. Old North State Trust LLC’s holdings in AbbVie were worth $532,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its position in AbbVie by 0.3% during the second quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 44,147 shares of the company’s stock valued at $3,210,000 after buying an additional 147 shares during the period. Weatherly Asset Management L. P. raised its position in AbbVie by 1.8% during the second quarter. Weatherly Asset Management L. P. now owns 8,317 shares of the company’s stock valued at $605,000 after buying an additional 151 shares during the period. Golden State Wealth Management LLC raised its position in AbbVie by 4.2% during the second quarter. Golden State Wealth Management LLC now owns 3,833 shares of the company’s stock valued at $278,000 after buying an additional 153 shares during the period. BTIM Corp. raised its position in AbbVie by 0.6% during the second quarter. BTIM Corp. now owns 27,263 shares of the company’s stock valued at $1,983,000 after buying an additional 154 shares during the period. Finally, Verus Financial Partners Inc. raised its position in AbbVie by 5.9% during the second quarter. Verus Financial Partners Inc. now owns 2,786 shares of the company’s stock valued at $203,000 after buying an additional 154 shares during the period. Institutional investors and hedge funds own 68.14% of the company’s stock.

Several research analysts recently weighed in on ABBV shares. Wolfe Research raised AbbVie from an “underperform” rating to a “peer perform” rating in a research report on Thursday, June 27th. Piper Jaffray Companies upped their price target on AbbVie from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Citigroup raised AbbVie from a “neutral” rating to a “buy” rating and upped their price target for the company from $87.00 to $90.00 in a research report on Thursday, September 26th. TheStreet lowered AbbVie from a “b-” rating to a “c” rating in a research report on Monday, August 26th. Finally, Leerink Swann raised AbbVie to a “buy” rating in a research report on Tuesday, July 2nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $89.97.

In other news, major shareholder Istar Inc. bought 40,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $28.52 per share, with a total value of $1,140,800.00. Also, Director Roxanne S. Austin purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were bought at an average price of $66.35 per share, with a total value of $663,500.00. Following the purchase, the director now owns 62,114 shares in the company, valued at approximately $4,121,263.90. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 183,077 shares of company stock worth $10,705,751. Insiders own 0.08% of the company’s stock.

ABBV stock traded down $0.23 during mid-day trading on Wednesday, hitting $73.30. The stock had a trading volume of 5,854,407 shares, compared to its average volume of 8,000,455. AbbVie Inc has a 1-year low of $62.66 and a 1-year high of $95.39. The company has a fifty day moving average of $70.00 and a 200 day moving average of $73.97. The stock has a market capitalization of $110.38 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 1.52 and a beta of 0.99.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 26th. The company reported $2.26 earnings per share for the quarter, topping the 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 company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.09 billion. During the same period in the prior year, the firm posted $2.00 EPS. The business’s revenue was down .3% compared to the same quarter last year. As a group, equities analysts anticipate that AbbVie Inc will post 8.9 earnings per share for the current year.

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

AbbVie 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.

Further Reading: What are benefits of a growth and income fund?

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.