AbbVie Inc. $ABBV Shares Sold by OLD Point Trust & Financial Services N A

OLD Point Trust & Financial Services N A lowered its position in AbbVie Inc. (NYSE:ABBV) by 66.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 660 shares of the company’s stock after selling 1,289 shares during the period. OLD Point Trust & Financial Services N A’s holdings in AbbVie were worth $123,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABBV. Marshall & Sullivan Inc. WA acquired a new stake in shares of AbbVie during the 2nd quarter valued at approximately $25,000. TD Capital Management LLC lifted its position in shares of AbbVie by 82.9% during the 1st 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 period. Abound Financial LLC acquired a new stake in shares of AbbVie during the 1st quarter valued at approximately $30,000. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie during the 1st quarter valued at approximately $35,000. Finally, Bear Mountain Capital Inc. lifted its position in shares of AbbVie by 480.6% during the 2nd quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock valued at $40,000 after acquiring an additional 173 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’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 completion of the sale, the executive vice president directly owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. This represents a 18.58% 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

A number of research firms have recently issued reports on ABBV. Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Erste Group Bank cut shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Tuesday, October 14th. Wall Street Zen cut shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research note on Wednesday, October 8th. Finally, Hsbc Global Res cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $234.80.

AbbVie Price Performance

NYSE ABBV opened at $228.57 on Thursday. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81. 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 stock has a market cap of $403.79 billion, a price-to-earnings ratio of 108.84, a price-to-earnings-growth ratio of 1.44 and a beta of 0.51. The company has a 50-day moving average price of $219.78 and a two-hundred day moving average price of $198.28.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, July 31st. The company reported $2.97 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 firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter last year, the company posted $2.65 EPS. AbbVie’s revenue for the quarter was up 6.6% on a year-over-year basis. Analysts forecast 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 $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio is currently 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.