AbbVie Inc. $ABBV Shares Sold by Asset Advisors Investment Management LLC

Asset Advisors Investment Management LLC lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 94,541 shares of the company’s stock after selling 137 shares during the period. AbbVie comprises 1.7% of Asset Advisors Investment Management LLC’s portfolio, making the stock its 18th largest holding. Asset Advisors Investment Management LLC’s holdings in AbbVie were worth $17,549,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Marshall & Sullivan Inc. WA acquired a new position in shares of AbbVie in the second quarter valued at approximately $25,000. TD Capital Management LLC lifted its position in shares of AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Abound Financial LLC acquired a new position in shares of AbbVie during the first quarter worth $30,000. Cypress Capital Management LLC WY acquired a new stake in AbbVie in the first quarter valued at $35,000. Finally, Inlight Wealth Management LLC acquired a new stake in AbbVie in the first quarter valued at $42,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ABBV. BMO Capital Markets increased their target price on shares of AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. Citigroup upped their price target on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, June 11th. JPMorgan Chase & Co. increased their target price on shares of AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Wells Fargo & Company raised their price objective on shares of AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Finally, Bank of America upped their price objective on shares of AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday, June 9th. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average price target of $223.52.

Insiders Place Their Bets

In related news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the transaction, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the sale, the executive vice president owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

AbbVie Trading Down 3.0%

Shares of AbbVie stock opened at $236.98 on Friday. The company’s fifty day simple moving average is $209.90 and its 200-day simple moving average is $195.87. The company has a market cap of $418.63 billion, a price-to-earnings ratio of 112.85, a PEG ratio of 1.43 and a beta of 0.51. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $244.81.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). The company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.65 EPS. As a group, sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 312.38%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.