AbbVie Inc. (NYSE:ABBV) Shares Sold by Hummer Financial Advisory Services Inc

Hummer Financial Advisory Services Inc reduced its stake in AbbVie Inc. (NYSE:ABBV) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,200 shares of the company’s stock after selling 100 shares during the period. AbbVie accounts for approximately 1.2% of Hummer Financial Advisory Services Inc’s holdings, making the stock its 17th biggest position. Hummer Financial Advisory Services Inc’s holdings in AbbVie were worth $1,406,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in AbbVie by 6.2% during the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after purchasing an additional 9,978,415 shares during the last quarter. Capital International Investors lifted its stake in AbbVie by 6.9% during the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock valued at $8,758,789,000 after purchasing an additional 3,110,601 shares during the last quarter. Capital Research Global Investors lifted its stake in AbbVie by 3.3% during the first quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock valued at $5,698,847,000 after purchasing an additional 992,496 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in AbbVie by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after purchasing an additional 1,702,415 shares during the last quarter. Finally, Norges Bank acquired a new stake in AbbVie during the fourth quarter valued at approximately $3,229,888,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

AbbVie stock traded down $0.47 during mid-day trading on Friday, reaching $189.93. The company had a trading volume of 3,206,539 shares, compared to its average volume of 5,580,519. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $193.91. The company has a 50 day moving average of $173.34 and a 200-day moving average of $171.22. The firm has a market cap of $335.39 billion, a price-to-earnings ratio of 56.36, a PEG ratio of 2.49 and a beta of 0.64.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 186.82%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same period in the prior year, the firm earned $2.91 EPS. The business’s revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts expect that AbbVie Inc. will post 10.87 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s payout ratio is 183.98%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. BMO Capital Markets upped their price target on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Piper Sandler restated an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a research report on Tuesday, July 2nd. Morgan Stanley upped their price target on shares of AbbVie from $191.00 to $196.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Finally, Wells Fargo & Company upped their price objective on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $188.71.

Insider Transactions at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the sale, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the sale, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

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.