Darden Wealth Group Inc Sells 205 Shares of AbbVie Inc. $ABBV

Darden Wealth Group Inc trimmed its position in AbbVie Inc. (NYSE:ABBV) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,627 shares of the company’s stock after selling 205 shares during the quarter. Darden Wealth Group Inc’s holdings in AbbVie were worth $859,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of AbbVie by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company’s stock valued at $36,439,271,000 after buying an additional 845,787 shares in the last quarter. Northern Trust Corp raised its holdings in AbbVie by 0.9% during the first quarter. Northern Trust Corp now owns 22,013,920 shares of the company’s stock valued at $4,612,357,000 after acquiring an additional 189,294 shares during the period. Goldman Sachs Group Inc. lifted its holdings in AbbVie by 31.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock worth $3,068,820,000 after purchasing an additional 3,519,187 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of AbbVie by 5.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,771,854 shares of the company’s stock valued at $2,675,959,000 after buying an additional 713,148 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of AbbVie by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 9,413,033 shares of the company’s stock worth $1,972,050,000 after buying an additional 45,871 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 0.1%

Shares of NYSE:ABBV opened at $228.06 on Friday. The firm has a market capitalization of $402.87 billion, a PE ratio of 108.60, a price-to-earnings-growth ratio of 1.44 and a beta of 0.51. The business has a 50 day simple moving average of $220.69 and a two-hundred day simple moving average of $199.11. 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 earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The business had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.65 EPS. On average, equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders 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 dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s payout ratio is currently 312.38%.

Analyst Ratings Changes

Several analysts have commented on ABBV shares. Citigroup reiterated a “neutral” rating on shares of AbbVie in a research note on Monday, October 13th. JPMorgan Chase & Co. increased their price target on AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research note on Friday. Cantor Fitzgerald set a $250.00 target price on AbbVie and gave the company an “overweight” rating in a research report on Thursday, October 9th. Finally, Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given 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 $234.80.

Insider Buying and Selling

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the 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 transaction, the executive vice president owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction on 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 transaction, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

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.