AbbVie Inc (NYSE:ABBV) Shares Sold by Murphy Capital Management Inc.

Murphy Capital Management Inc. lessened its stake in AbbVie Inc (NYSE:ABBV) by 4.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,806 shares of the company’s stock after selling 285 shares during the quarter. Murphy Capital Management Inc.’s holdings in AbbVie were worth $494,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Van Leeuwen & Company LLC raised its holdings in shares of AbbVie by 4.1% during the fourth quarter. Van Leeuwen & Company LLC now owns 3,296 shares of the company’s stock valued at $304,000 after acquiring an additional 130 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its holdings in shares of 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 acquiring an additional 147 shares during the last quarter. Marathon Capital Management raised its holdings in shares of AbbVie by 6.6% during the fourth quarter. Marathon Capital Management now owns 2,516 shares of the company’s stock valued at $231,000 after acquiring an additional 155 shares during the last quarter. Graves Light Private Wealth Management Inc. raised its holdings in shares of AbbVie by 2.2% during the first quarter. Graves Light Private Wealth Management Inc. now owns 7,181 shares of the company’s stock valued at $579,000 after acquiring an additional 155 shares during the last quarter. Finally, Bangor Savings Bank raised its holdings in shares of AbbVie by 2.3% during the second quarter. Bangor Savings Bank now owns 7,470 shares of the company’s stock valued at $544,000 after acquiring an additional 171 shares during the last quarter. 68.52% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have commented on ABBV. ValuEngine cut AbbVie from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 26th. Leerink Swann upgraded AbbVie to a “buy” rating in a research report on Tuesday, July 2nd. Wolfe Research upgraded AbbVie from an “underperform” rating to a “peer perform” rating in a research report on Thursday, June 27th. Svb Leerink upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price target for the company in a research report on Wednesday, June 26th. Finally, Credit Suisse Group set a $78.00 price target on AbbVie and gave the company a “sell” rating in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. AbbVie currently has an average rating of “Hold” and an average price target of $92.05.

In other AbbVie news, Director Roxanne S. Austin acquired 11,500 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was bought at an average cost of $67.50 per share, for a total transaction of $776,250.00. Following the completion of the transaction, the director now owns 52,114 shares of the company’s stock, valued at approximately $3,517,695. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roxanne S. Austin acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was acquired at an average price of $66.35 per share, with a total value of $663,500.00. Following the completion of the transaction, the director now directly owns 62,114 shares of the company’s stock, valued at approximately $4,121,263.90. The disclosure for this purchase can be found here. Insiders purchased 136,900 shares of company stock valued at $9,126,370 over the last quarter. 0.08% of the stock is currently owned by company insiders.

Shares of ABBV stock traded down $0.45 during trading hours on Friday, reaching $65.35. The company had a trading volume of 9,652,379 shares, compared to its average volume of 10,351,799. The stock has a fifty day simple moving average of $71.69. The firm has a market cap of $96.61 billion, a P/E ratio of 8.26, a price-to-earnings-growth ratio of 1.59 and a beta of 0.96. AbbVie Inc has a 12-month low of $65.03 and a 12-month high of $100.23.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.05. The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.09 billion. AbbVie had a negative return on equity of 198.18% and a net margin of 12.62%. The business’s revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.00 earnings per share. On average, sell-side analysts anticipate that AbbVie Inc will post 8.88 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a $1.07 dividend. The ex-dividend date is Friday, July 12th. This represents a $4.28 annualized dividend and a yield of 6.55%. AbbVie’s payout ratio is 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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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