Hayek Kallen Investment Management Decreases Holdings in AbbVie Inc (NYSE:ABBV)

Hayek Kallen Investment Management trimmed its holdings in shares of AbbVie Inc (NYSE:ABBV) by 1.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,025 shares of the company’s stock after selling 353 shares during the period. AbbVie accounts for about 1.4% of Hayek Kallen Investment Management’s holdings, making the stock its 28th biggest holding. Hayek Kallen Investment Management’s holdings in AbbVie were worth $2,274,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC raised its stake in shares of AbbVie by 1.3% in the 3rd quarter. Brighton Jones LLC now owns 9,986 shares of the company’s stock valued at $756,000 after purchasing an additional 131 shares in the last quarter. Private Ocean LLC raised its stake in AbbVie by 3.8% during the third quarter. Private Ocean LLC now owns 3,796 shares of the company’s stock worth $288,000 after acquiring an additional 139 shares during the period. Pure Financial Advisors Inc. raised its stake in AbbVie by 1.2% during the third quarter. Pure Financial Advisors Inc. now owns 11,846 shares of the company’s stock worth $897,000 after acquiring an additional 142 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in 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 worth $3,210,000 after acquiring an additional 147 shares during the period. Finally, Beacon Financial Group raised its stake in AbbVie by 1.5% during the third quarter. Beacon Financial Group now owns 10,164 shares of the company’s stock worth $761,000 after acquiring an additional 149 shares during the period. 68.38% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently weighed in on ABBV. ValuEngine upgraded shares of AbbVie from a “strong sell” rating to a “sell” rating in a research note on Monday, September 30th. TheStreet lowered shares of AbbVie from a “b-” rating to a “c” rating in a research note on Monday, August 26th. Piper Jaffray Companies increased their price objective on shares of AbbVie from $81.00 to $90.00 in a research note on Friday, November 1st. Cowen set a $90.00 price objective on shares of AbbVie and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, Citigroup upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $87.00 to $90.00 in a research note on Thursday, September 26th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $84.88.

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In other AbbVie news, major shareholder Istar Inc. bought 40,000 shares of AbbVie stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average cost of $28.52 per share, for a total transaction of $1,140,800.00. Also, Vice Chairman Laura J. Schumacher bought 25,000 shares of AbbVie stock in a transaction that occurred on Monday, September 16th. The shares were acquired at an average price of $70.42 per share, with a total value of $1,760,500.00. Following the completion of the acquisition, the insider now directly owns 164,838 shares of the company’s stock, valued at approximately $11,607,891.96. The disclosure for this purchase can be found here. Insiders bought 88,077 shares of company stock valued at $4,401,551 over the last quarter. Insiders own 0.08% of the company’s stock.

Shares of AbbVie stock traded up $3.20 on Friday, hitting $85.21. The company had a trading volume of 11,307,381 shares, compared to its average volume of 7,972,123. The business has a 50-day simple moving average of $76.28 and a 200-day simple moving average of $73.49. The company has a market cap of $121.00 billion, a PE ratio of 10.77, a PEG ratio of 2.04 and a beta of 0.98. AbbVie Inc has a 52 week low of $62.66 and a 52 week high of $94.98.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, November 1st. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.04. The business had revenue of $8.48 billion during the quarter, compared to analysts’ expectations of $8.37 billion. AbbVie had a net margin of 9.90% and a negative return on equity of 155.71%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm posted $2.14 earnings per share. On average, equities analysts expect that AbbVie Inc will post 8.93 EPS for the current year.

The business also recently disclosed a — dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $1.07 dividend. This represents a dividend yield of 6.4%. The ex-dividend date of this dividend is Friday, October 11th. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.

AbbVie Company 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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