AbbVie Inc (ABBV) Position Cut by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund trimmed its stake in AbbVie Inc (NYSE:ABBV) by 13.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 352,084 shares of the company’s stock after selling 52,744 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in AbbVie were worth $32,621,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in ABBV. Verition Fund Management LLC lifted its position in shares of AbbVie by 7.4% during the first quarter. Verition Fund Management LLC now owns 7,269 shares of the company’s stock worth $688,000 after purchasing an additional 500 shares in the last quarter. Baxter Bros Inc. lifted its position in shares of AbbVie by 19.6% during the first quarter. Baxter Bros Inc. now owns 3,049 shares of the company’s stock worth $289,000 after purchasing an additional 500 shares in the last quarter. Hanson & Doremus Investment Management lifted its position in shares of AbbVie by 7.4% during the first quarter. Hanson & Doremus Investment Management now owns 7,290 shares of the company’s stock worth $690,000 after purchasing an additional 501 shares in the last quarter. HMS Capital Management LLC lifted its position in shares of AbbVie by 3.7% during the first quarter. HMS Capital Management LLC now owns 14,220 shares of the company’s stock worth $1,346,000 after purchasing an additional 506 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its position in shares of AbbVie by 1.9% during the first quarter. AdvisorNet Financial Inc now owns 26,613 shares of the company’s stock worth $2,519,000 after purchasing an additional 508 shares in the last quarter. Hedge funds and other institutional investors own 69.44% of the company’s stock.

ABBV opened at $87.97 on Friday. The firm has a market capitalization of $136.13 billion, a P/E ratio of 13.30, a P/E/G ratio of 0.89 and a beta of 1.54. The company has a debt-to-equity ratio of -9.06, a quick ratio of 0.71 and a current ratio of 0.80. AbbVie Inc has a 12-month low of $85.24 and a 12-month high of $125.86.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 27th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.02. The firm had revenue of $8.28 billion for the quarter, compared to analysts’ expectations of $8.22 billion. AbbVie had a net margin of 20.84% and a return on equity of 362.05%. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.42 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc will post 7.86 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Friday, October 12th. This represents a $3.84 annualized dividend and a yield of 4.37%. AbbVie’s dividend payout ratio is presently 68.57%.

In related news, EVP Michael Severino sold 50,000 shares of the company’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $97.52, for a total value of $4,876,000.00. Following the sale, the executive vice president now directly owns 111,481 shares of the company’s stock, valued at $10,871,627.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.07% of the company’s stock.

A number of research analysts have recently commented on ABBV shares. ValuEngine cut shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, June 22nd. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a research report on Wednesday, June 27th. Berenberg Bank started coverage on shares of AbbVie in a research report on Thursday, July 12th. They set a “hold” rating and a $105.00 target price on the stock. Credit Suisse Group raised shares of AbbVie to a “hold” rating and set a $89.00 target price on the stock in a research report on Friday, July 13th. Finally, Jefferies Financial Group set a $100.00 target price on shares of AbbVie and gave the stock a “buy” rating in a research report on Sunday, July 15th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $106.98.

About AbbVie

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, to treat adults with genotype 1 chronic hepatitis C.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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