AbbVie Inc. (ABBV) Stake Lowered by Cigna Investments Inc. New

Cigna Investments Inc. New decreased its position in AbbVie Inc. (NYSE:ABBV) by 7.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,712 shares of the company’s stock after selling 4,677 shares during the quarter. Cigna Investments Inc. New’s holdings in AbbVie were worth $4,475,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ABBV. Acropolis Investment Management LLC bought a new position in AbbVie during the second quarter worth $106,000. Franklin Parlapiano Turner & Welch LLC bought a new position in AbbVie during the first quarter worth $108,000. Atwood & Palmer Inc. increased its position in AbbVie by 1,333.3% during the first quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock worth $140,000 after acquiring an additional 2,000 shares during the period. Tradewinds Capital Management LLC increased its position in AbbVie by 87.2% during the first quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock worth $148,000 after acquiring an additional 1,057 shares during the period. Finally, Exane Asset Management bought a new position in AbbVie during the second quarter worth $181,000. 68.52% of the stock is currently owned by institutional investors.

In other AbbVie news, VP Robert A. Michael sold 6,699 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $88.00, for a total transaction of $589,512.00. Following the transaction, the vice president now directly owns 10,007 shares in the company, valued at approximately $880,616. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $85.02, for a total transaction of $705,666.00. Following the transaction, the senior vice president now owns 93,099 shares in the company, valued at $7,915,276.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,299 shares of company stock worth $2,952,243. 0.23% of the stock is owned by corporate insiders.

Several brokerages have issued reports on ABBV. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a report on Tuesday, October 17th. BidaskClub lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 25th. Vetr raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 price target on the stock in a report on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $100.00 price target (up previously from $85.00) on shares of AbbVie in a report on Friday, September 8th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $107.00 price target (up previously from $94.00) on shares of AbbVie in a report on Friday, September 15th. Eight research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. AbbVie currently has an average rating of “Buy” and an average target price of $93.68.

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Shares of AbbVie Inc. (NYSE:ABBV) traded down $0.46 during midday trading on Friday, reaching $95.43. 6,170,100 shares of the company traded hands, compared to its average volume of 6,254,326. The firm has a market cap of $153,081.67, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 1.33 and a beta of 1.51. The company has a current ratio of 1.45, a quick ratio of 1.25 and a debt-to-equity ratio of 5.08. AbbVie Inc. has a 1-year low of $58.60 and a 1-year high of $98.26.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 EPS. research analysts predict that AbbVie Inc. will post 5.55 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.71 per share. This is an increase from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.84 annualized dividend and a yield of 2.98%. AbbVie’s dividend payout ratio is 62.29%.

About AbbVie

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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