AbbVie Inc (ABBV) Holdings Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in AbbVie Inc (NYSE:ABBV) by 6.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,497,156 shares of the company’s stock after selling 1,078,202 shares during the quarter. Bank of New York Mellon Corp’s holdings in AbbVie were worth $1,435,813,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Verition Fund Management LLC increased its stake in AbbVie by 7.4% during the 1st quarter. Verition Fund Management LLC now owns 7,269 shares of the company’s stock worth $688,000 after buying an additional 500 shares during the period. Baxter Bros Inc. increased its stake in AbbVie by 19.6% during the 1st quarter. Baxter Bros Inc. now owns 3,049 shares of the company’s stock worth $289,000 after buying an additional 500 shares during the period. Hanson & Doremus Investment Management increased its stake in AbbVie by 7.4% during the 1st quarter. Hanson & Doremus Investment Management now owns 7,290 shares of the company’s stock worth $690,000 after buying an additional 501 shares during the period. Good Life Advisors LLC increased its stake in AbbVie by 5.6% during the 2nd quarter. Good Life Advisors LLC now owns 10,060 shares of the company’s stock worth $933,000 after buying an additional 537 shares during the period. Finally, Lido Advisors LLC increased its stake in AbbVie by 2.4% during the 2nd quarter. Lido Advisors LLC now owns 23,371 shares of the company’s stock worth $2,165,000 after buying an additional 537 shares during the period. Institutional investors own 69.37% of the company’s stock.

In other AbbVie news, EVP Michael Severino sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the completion of the transaction, the executive vice president now owns 111,481 shares in the company, valued at approximately $10,871,627.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.07% of the company’s stock.

NYSE ABBV opened at $81.59 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of 8.70. AbbVie Inc has a 52 week low of $79.26 and a 52 week high of $125.86. The company has a market cap of $122.34 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 0.80 and a beta of 1.54.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, October 15th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 4.71%. The ex-dividend date is Friday, October 12th. AbbVie’s dividend payout ratio (DPR) is presently 68.57%.

Several brokerages recently weighed in on ABBV. ValuEngine downgraded shares of AbbVie from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Berenberg Bank began coverage on shares of AbbVie in a research note on Thursday, July 12th. They set a “hold” rating and a $105.00 target price on the stock. Jefferies Financial Group set a $100.00 target price on shares of AbbVie and gave the stock a “buy” rating in a research note on Sunday, July 15th. Credit Suisse Group raised shares of AbbVie to a “hold” rating and set a $89.00 target price on the stock in a research note on Friday, July 13th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $100.00 target price on shares of AbbVie in a research note on Friday, July 27th. Six analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. AbbVie has an average rating of “Hold” and a consensus target price of $105.68.

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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