Omnia Family Wealth LLC Sells 317 Shares of AbbVie Inc. $ABBV

Omnia Family Wealth LLC cut its holdings in AbbVie Inc. (NYSE:ABBV) by 6.6% in the second quarter, HoldingsChannel reports. The firm owned 4,472 shares of the company’s stock after selling 317 shares during the period. Omnia Family Wealth LLC’s holdings in AbbVie were worth $830,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Marshall & Sullivan Inc. WA acquired a new position in AbbVie during the 2nd quarter worth $25,000. TD Capital Management LLC lifted its position in AbbVie by 82.9% during the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Abound Financial LLC acquired a new position in AbbVie during the 1st quarter worth $30,000. Cypress Capital Management LLC WY acquired a new position in AbbVie during the 1st quarter worth $35,000. Finally, Bear Mountain Capital Inc. lifted its position in AbbVie by 480.6% during the 2nd quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock worth $40,000 after acquiring an additional 173 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 177,292 shares of the company’s stock, valued at $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This trade represents 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.

AbbVie Stock Down 1.2%

NYSE ABBV opened at $226.31 on Thursday. 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 firm has a 50-day simple moving average of $216.72 and a 200 day simple moving average of $197.32. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $244.81. The stock has a market cap of $399.80 billion, a PE ratio of 107.77, a PEG ratio of 1.48 and a beta of 0.51.

AbbVie (NYSE:ABBV) last posted its quarterly 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 business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. During the same period last year, the company earned $2.65 EPS. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

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

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. UBS Group set a $251.00 target price on shares of AbbVie in a research report on Friday, October 3rd. Berenberg Bank raised shares of AbbVie from a “hold” rating to a “buy” rating and boosted their target price for the stock from $170.00 to $270.00 in a research report on Wednesday, September 17th. Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Finally, HSBC set a $225.00 target price on shares of AbbVie in a research note on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.90.

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.