TFB Advisors LLC Sells 232 Shares of AbbVie Inc. $ABBV

TFB Advisors LLC lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 10.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,944 shares of the company’s stock after selling 232 shares during the period. TFB Advisors LLC’s holdings in AbbVie were worth $361,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Conning Inc. raised its position in shares of AbbVie by 7.1% in the 2nd quarter. Conning Inc. now owns 191,023 shares of the company’s stock valued at $35,458,000 after buying an additional 12,690 shares in the last quarter. Dohj LLC raised its position in shares of AbbVie by 41.8% in the 2nd quarter. Dohj LLC now owns 4,529 shares of the company’s stock valued at $802,000 after buying an additional 1,335 shares in the last quarter. First Hawaiian Bank raised its position in shares of AbbVie by 0.8% in the 2nd quarter. First Hawaiian Bank now owns 7,556 shares of the company’s stock valued at $1,403,000 after buying an additional 60 shares in the last quarter. Narus Financial Partners LLC raised its position in shares of AbbVie by 25.3% in the 1st quarter. Narus Financial Partners LLC now owns 1,988 shares of the company’s stock valued at $417,000 after buying an additional 401 shares in the last quarter. Finally, BankPlus Trust Department raised its position in shares of AbbVie by 3.3% in the 2nd quarter. BankPlus Trust Department now owns 27,113 shares of the company’s stock valued at $5,033,000 after buying an additional 855 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’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 transaction of $8,407,055.40. Following the sale, the executive vice president directly owned 177,292 shares of the company’s stock, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’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 transaction of $2,639,190.45. Following the sale, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

ABBV stock opened at $228.57 on Thursday. The company has a 50 day simple moving average of $219.78 and a 200 day simple moving average of $198.28. The stock has a market cap of $403.79 billion, a price-to-earnings ratio of 108.84, a P/E/G ratio of 1.44 and a beta of 0.51. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $244.81. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61.

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 analysts’ consensus estimates of $3.24 by ($0.27). The company had revenue of $15.42 billion for 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%.AbbVie’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.65 earnings per share. Research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s payout ratio is presently 312.38%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several analyst reports. Piper Sandler boosted their target price on shares of AbbVie from $231.00 to $284.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. Hsbc Global Res cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Berenberg Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating and boosted their target price for the company from $170.00 to $270.00 in a research report on Wednesday, September 17th. Cantor Fitzgerald set a $250.00 target price on shares of AbbVie and gave the company an “overweight” rating in a research report on Thursday, October 9th. Finally, Citigroup restated a “neutral” rating on shares of AbbVie in a research report on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $234.80.

AbbVie 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.