Sachetta LLC Decreases Stake in AbbVie Inc. $ABBV

Sachetta LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 6.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,104 shares of the company’s stock after selling 339 shares during the quarter. Sachetta LLC’s holdings in AbbVie were worth $947,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Marshall & Sullivan Inc. WA purchased a new stake in AbbVie during the 2nd quarter valued at $25,000. TD Capital Management LLC raised its stake in shares of AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Abound Financial LLC purchased a new stake in shares of AbbVie during the first quarter worth about $30,000. Cypress Capital Management LLC WY bought a new stake in shares of AbbVie in the first quarter worth about $35,000. Finally, Inlight Wealth Management LLC purchased a new position in AbbVie during the 1st quarter valued at about $42,000. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the transaction, the executive vice president directly owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ABBV has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Daiwa America upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. UBS Group set a $251.00 price target on shares of AbbVie in a report on Friday. JPMorgan Chase & Co. boosted their price objective 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. Finally, Hsbc Global Res lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.14.

AbbVie Price Performance

ABBV opened at $230.28 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The company has a market cap of $406.80 billion, a price-to-earnings ratio of 109.66, a price-to-earnings-growth ratio of 1.37 and a beta of 0.51. The stock has a fifty day simple moving average of $211.61 and a two-hundred day simple moving average of $195.93. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $244.81.

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

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio is 312.38%.

About AbbVie

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.