AbbVie Inc. (NYSE:ABBV) Position Decreased by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. decreased its position in AbbVie Inc. (NYSE:ABBV) by 0.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 607,193 shares of the company’s stock after selling 3,000 shares during the period. AbbVie accounts for approximately 1.4% of Jupiter Asset Management Ltd.’s portfolio, making the stock its 12th largest position. Jupiter Asset Management Ltd.’s holdings in AbbVie were worth $39,565,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ABBV. Bollard Group LLC increased its position in shares of AbbVie by 0.5% in the first quarter. Bollard Group LLC now owns 3,745 shares of the company’s stock worth $244,000 after buying an additional 20 shares in the last quarter. TRUE Private Wealth Advisors boosted its stake in AbbVie by 0.5% in the first quarter. TRUE Private Wealth Advisors now owns 4,787 shares of the company’s stock worth $313,000 after buying an additional 24 shares during the last quarter. St. Louis Trust Co boosted its stake in AbbVie by 0.7% in the first quarter. St. Louis Trust Co now owns 3,388 shares of the company’s stock worth $221,000 after buying an additional 25 shares during the last quarter. Country Club Trust Company n.a. boosted its stake in AbbVie by 0.6% in the first quarter. Country Club Trust Company n.a. now owns 4,434 shares of the company’s stock worth $289,000 after buying an additional 26 shares during the last quarter. Finally, Stratford Consulting LLC boosted its stake in AbbVie by 0.7% in the first quarter. Stratford Consulting LLC now owns 3,959 shares of the company’s stock worth $258,000 after buying an additional 29 shares during the last quarter. 67.69% of the stock is owned by institutional investors and hedge funds.

AbbVie Inc. (ABBV) opened at 69.96 on Friday. AbbVie Inc. has a 52-week low of $55.06 and a 52-week high of $75.04. The company’s 50 day moving average is $71.72 and its 200-day moving average is $67.10. The company has a market capitalization of $111.52 billion, a price-to-earnings ratio of 17.21 and a beta of 1.50.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 28th. The company reported $1.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.02. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The company had revenue of $6.94 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the firm posted $1.26 EPS. AbbVie’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities analysts anticipate that AbbVie Inc. will post $5.52 EPS for the current fiscal year.

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

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A number of equities research analysts have commented on the stock. Piper Jaffray Companies restated a “buy” rating and issued a $85.00 price target on shares of AbbVie in a report on Thursday, August 3rd. BidaskClub cut shares of AbbVie from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Vetr upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 price target for the company in a report on Wednesday, July 26th. Cowen and Company set a $70.00 price objective on shares of AbbVie and gave the company a “hold” rating in a report on Sunday, July 30th. Finally, Evercore ISI assumed coverage on shares of AbbVie in a report on Wednesday. They set an “outperform” rating and a $95.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. AbbVie has a consensus rating of “Buy” and a consensus price target of $76.02.

In other news, insider Laura J. Schumacher sold 79,800 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $70.00, for a total transaction of $5,586,000.00. Following the sale, the insider now owns 187,625 shares of the company’s stock, valued at approximately $13,133,750. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Edward J. Rapp purchased 4,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were bought at an average cost of $70.45 per share, for a total transaction of $281,800.00. Following the acquisition, the director now owns 15,498 shares in the company, valued at $1,091,834.10. The disclosure for this purchase can be found here. Insiders have sold a total of 490,491 shares of company stock worth $34,684,639 over the last three months. 0.23% of the stock is currently owned by insiders.

AbbVie Company 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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