US Bancorp DE Sells 67,631 Shares of AbbVie Inc (ABBV)

US Bancorp DE trimmed its holdings in shares of AbbVie Inc (NYSE:ABBV) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,854,645 shares of the company’s stock after selling 67,631 shares during the period. AbbVie comprises about 0.8% of US Bancorp DE’s portfolio, making the stock its 23rd largest position. US Bancorp DE owned approximately 0.18% of AbbVie worth $270,192,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Covington Capital Management raised its position in shares of AbbVie by 0.8% in the 4th quarter. Covington Capital Management now owns 55,518 shares of the company’s stock valued at $5,369,000 after purchasing an additional 449 shares during the last quarter. San Francisco Sentry Investment Group CA raised its position in shares of AbbVie by 15.3% in the 4th quarter. San Francisco Sentry Investment Group CA now owns 3,386 shares of the company’s stock valued at $327,000 after purchasing an additional 450 shares during the last quarter. GHP Investment Advisors Inc. raised its position in shares of AbbVie by 8.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 5,970 shares of the company’s stock valued at $577,000 after purchasing an additional 455 shares during the last quarter. Annex Advisory Services LLC raised its position in shares of AbbVie by 1.1% in the 4th quarter. Annex Advisory Services LLC now owns 43,287 shares of the company’s stock valued at $4,186,000 after purchasing an additional 478 shares during the last quarter. Finally, First Personal Financial Services raised its position in shares of AbbVie by 2.7% in the 4th quarter. First Personal Financial Services now owns 18,248 shares of the company’s stock valued at $1,765,000 after purchasing an additional 488 shares during the last quarter. Institutional investors own 69.42% of the company’s stock.

AbbVie opened at $92.12 on Wednesday, according to MarketBeat.com. AbbVie Inc has a 12-month low of $69.38 and a 12-month high of $125.86. The company has a quick ratio of 1.10, a current ratio of 1.20 and a debt-to-equity ratio of 8.70. The company has a market cap of $147.66 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 0.87 and a beta of 1.61.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, April 26th. The company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.08. The company had revenue of $7.93 billion during the quarter, compared to analyst estimates of $7.60 billion. AbbVie had a net margin of 21.55% and a return on equity of 186.47%. AbbVie’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period last year, the firm posted $1.28 EPS. analysts expect that AbbVie Inc will post 7.8 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Stockholders of record on Friday, July 13th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Thursday, July 12th. AbbVie’s dividend payout ratio (DPR) is 68.57%.

ABBV has been the subject of several research analyst reports. Deutsche Bank lowered shares of AbbVie from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $125.86 to $65.61 in a research report on Wednesday, May 30th. Deutsche Bank lowered shares of AbbVie from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $125.86 to $65.61 in a research report on Wednesday, May 30th. Goldman Sachs Group lowered shares of AbbVie from a “conviction-buy” rating to a “buy” rating in a research report on Thursday, May 24th. Piper Jaffray Companies lowered shares of AbbVie from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $125.86 to $66.62 in a research report on Friday, June 1st. Finally, BMO Capital Markets set a $95.00 price objective on shares of AbbVie and gave the company a “sell” rating in a research report on Tuesday, March 13th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $106.51.

In other news, SVP Timothy J. Richmond sold 17,588 shares of AbbVie stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $99.47, for a total transaction of $1,749,478.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward J. Rapp bought 1,013 shares of the business’s stock in a transaction dated Wednesday, June 20th. The shares were purchased at an average cost of $98.63 per share, with a total value of $99,912.19. The disclosure for this purchase can be found here. 0.07% of the stock is owned by insiders.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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