Standard Family Office LLC Has $68,000 Stake in AbbVie Inc. $ABBV

Standard Family Office LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 42.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 324 shares of the company’s stock after selling 243 shares during the quarter. AbbVie makes up about 0.1% of Standard Family Office LLC’s investment portfolio, making the stock its 21st largest holding. Standard Family Office LLC’s holdings in AbbVie were worth $68,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Narus Financial Partners LLC lifted its holdings in shares of AbbVie by 25.3% during 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 during the last quarter. Highland Capital Management LLC lifted its holdings in AbbVie by 6.3% in the 1st quarter. Highland Capital Management LLC now owns 46,853 shares of the company’s stock worth $9,817,000 after purchasing an additional 2,792 shares during the last quarter. Weaver Capital Management LLC lifted its holdings in AbbVie by 3.9% in the 1st quarter. Weaver Capital Management LLC now owns 8,240 shares of the company’s stock worth $1,727,000 after purchasing an additional 310 shares during the last quarter. North Star Asset Management Inc. lifted its holdings in AbbVie by 0.5% in the 1st quarter. North Star Asset Management Inc. now owns 161,320 shares of the company’s stock worth $33,800,000 after purchasing an additional 756 shares during the last quarter. Finally, Alpine Bank Wealth Management acquired a new stake in AbbVie in the 1st quarter worth approximately $3,879,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Bank of America boosted their target price on AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Morgan Stanley boosted their target price on AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Citigroup boosted their target price on AbbVie to $205.00 and gave the stock a “hold” rating in a report on Wednesday, June 11th. Piper Sandler assumed coverage on AbbVie in a report on Tuesday, August 12th. They issued an “overweight” rating and a $231.00 target price for the company. Finally, Guggenheim boosted their target price on AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average target price of $214.95.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $209.97 on Tuesday. The company has a market cap of $370.93 billion, a P/E ratio of 99.99, a P/E/G ratio of 1.37 and a beta of 0.53. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The business’s 50 day moving average is $198.22 and its two-hundred day moving average is $194.14.

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 firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.65 earnings per share. On average, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be given a dividend of $1.64 per share. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.1%. AbbVie’s payout ratio is currently 312.38%.

Insider Buying and Selling

In other news, 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 approximately $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 value 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 disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

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.