Ifrah Financial Services Inc. Has $1.41 Million Holdings in AbbVie Inc. $ABBV

Ifrah Financial Services Inc. trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,583 shares of the company’s stock after selling 60 shares during the period. Ifrah Financial Services Inc.’s holdings in AbbVie were worth $1,408,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Marshall & Sullivan Inc. WA acquired a new position in AbbVie in the second quarter valued at about $25,000. TD Capital Management LLC grew its stake in AbbVie by 82.9% in 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 period. Abound Financial LLC acquired a new position in AbbVie in the first quarter valued at about $30,000. Cypress Capital Management LLC WY acquired a new position in AbbVie in the first quarter valued at about $35,000. Finally, Bear Mountain Capital Inc. grew its stake in AbbVie by 480.6% in the second 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 owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the sale, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction dated 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. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ABBV. Raymond James Financial reissued an “outperform” rating and issued a $250.00 target price (up from $236.00) 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 note on Thursday, October 9th. Bank of America boosted their price target on AbbVie from $220.00 to $251.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. Wall Street Zen lowered AbbVie from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Finally, UBS Group set a $251.00 price target on AbbVie in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $234.05.

AbbVie Stock Performance

ABBV opened at $229.66 on Friday. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $244.81. The firm has a market capitalization of $405.71 billion, a PE ratio of 109.36, a PEG ratio of 1.41 and a beta of 0.51. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The business’s 50-day simple moving average is $217.91 and its 200 day simple moving average is $197.60.

AbbVie (NYSE:ABBV) last released its earnings results 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 the consensus estimate of $14.93 billion. During the same quarter in the previous year, the company posted $2.65 EPS. The business’s revenue was up 6.6% on a year-over-year basis. As a group, sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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