Rothschild Asset Management Inc. Trims Stake in AbbVie Inc. (ABBV)

Rothschild Asset Management Inc. trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 7.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,144 shares of the company’s stock after selling 1,691 shares during the quarter. Rothschild Asset Management Inc.’s holdings in AbbVie were worth $1,461,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ABBV. Mn Services Vermogensbeheer B.V. boosted its position in shares of AbbVie by 2.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 43,346 shares of the company’s stock valued at $2,641,000 after acquiring an additional 1,190 shares during the period. Sippican Capital Advisors boosted its position in shares of AbbVie by 13.9% in the first quarter. Sippican Capital Advisors now owns 22,394 shares of the company’s stock valued at $1,459,000 after acquiring an additional 2,730 shares during the period. Guinness Asset Management Ltd boosted its position in shares of AbbVie by 9.9% in the first quarter. Guinness Asset Management Ltd now owns 151,020 shares of the company’s stock valued at $9,840,000 after acquiring an additional 13,620 shares during the period. Waldron LP boosted its position in shares of AbbVie by 31.0% in the first quarter. Waldron LP now owns 6,984 shares of the company’s stock valued at $446,000 after acquiring an additional 1,653 shares during the period. Finally, First Manhattan Co. boosted its position in shares of AbbVie by 0.5% in the first quarter. First Manhattan Co. now owns 200,582 shares of the company’s stock valued at $12,650,000 after acquiring an additional 956 shares during the period. 68.26% of the stock is owned by institutional investors.

In other news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $85.02, for a total transaction of $705,666.00. Following the completion of the transaction, the senior vice president now owns 93,099 shares of the company’s stock, valued at approximately $7,915,276.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Robert A. Michael sold 6,699 shares of the business’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $88.00, for a total value of $589,512.00. Following the transaction, the vice president now directly owns 10,007 shares of the company’s stock, valued at approximately $880,616. The disclosure for this sale can be found here. Insiders have sold a total of 379,890 shares of company stock valued at $27,187,817 in the last three months. 0.23% of the stock is owned by insiders.

Several equities research analysts have recently weighed in on the company. Cowen and Company raised AbbVie from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $91.17 to $105.00 in a research report on Wednesday. Leerink Swann raised AbbVie from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $89.00 to $106.00 in a research report on Monday, October 2nd. Credit Suisse Group reissued a “neutral” rating and issued a $94.00 price objective (up from $74.00) on shares of AbbVie in a research report on Sunday, October 1st. Evercore ISI reissued an “outperform” rating and issued a $100.00 price objective (up from $95.00) on shares of AbbVie in a research report on Saturday, September 30th. Finally, Barclays PLC reissued a “hold” rating and issued a $68.00 price objective on shares of AbbVie in a research report on Thursday, September 28th. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $90.49.

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AbbVie Inc. (ABBV) opened at 91.42 on Friday. AbbVie Inc. has a 1-year low of $55.06 and a 1-year high of $92.61. The firm’s 50-day moving average price is $84.59 and its 200 day moving average price is $72.69. The firm has a market capitalization of $145.73 billion, a price-to-earnings ratio of 22.48 and a beta of 1.51.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.02. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The firm had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the company posted $1.26 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. On average, analysts predict that AbbVie Inc. will post $5.53 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.80%. AbbVie’s dividend payout ratio (DPR) is currently 62.90%.

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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