Windle Wealth LLC Has $7.92 Million Stock Holdings in AbbVie Inc. $ABBV

Windle Wealth LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 42,688 shares of the company’s stock after selling 135 shares during the quarter. AbbVie comprises 3.9% of Windle Wealth LLC’s holdings, making the stock its 11th biggest position. Windle Wealth LLC’s holdings in AbbVie were worth $7,924,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Maryland State Retirement & Pension System grew its holdings in AbbVie by 3.6% during the second quarter. Maryland State Retirement & Pension System now owns 85,957 shares of the company’s stock valued at $15,955,000 after purchasing an additional 3,002 shares during the last quarter. Optas LLC grew its holdings in AbbVie by 22.5% during the second quarter. Optas LLC now owns 6,227 shares of the company’s stock valued at $1,156,000 after purchasing an additional 1,142 shares during the last quarter. Bar Harbor Wealth Management grew its holdings in AbbVie by 10.7% during the second quarter. Bar Harbor Wealth Management now owns 86,302 shares of the company’s stock valued at $16,019,000 after purchasing an additional 8,338 shares during the last quarter. Dohj LLC grew its holdings in AbbVie by 41.8% during the second quarter. Dohj LLC now owns 4,529 shares of the company’s stock valued at $802,000 after purchasing an additional 1,335 shares during the last quarter. Finally, Morton Capital Management LLC CA grew its holdings in AbbVie by 2.9% during the second quarter. Morton Capital Management LLC CA now owns 9,722 shares of the company’s stock valued at $1,805,000 after purchasing an additional 275 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on ABBV shares. HSBC set a $225.00 price target on AbbVie in a report on Thursday, October 2nd. Raymond James Financial reissued an “outperform” rating on shares of AbbVie in a research report on Monday, August 25th. Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Wells Fargo & Company increased their price objective on AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Finally, Piper Sandler assumed coverage on AbbVie in a research report on Tuesday, August 12th. They issued an “overweight” rating and a $231.00 price objective for the company. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $229.14.

AbbVie Stock Down 0.7%

Shares of ABBV stock opened at $231.26 on Thursday. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The stock has a fifty day moving average price of $213.28 and a 200 day moving average price of $196.43. AbbVie Inc. has a one year low of $163.81 and a one year high of $244.81. The stock has a market cap of $408.53 billion, a P/E ratio of 110.12, a price-to-earnings-growth ratio of 1.36 and a beta of 0.51.

AbbVie (NYSE:ABBV) last released 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). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same quarter in the prior year, the company earned $2.65 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. Analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

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