Tsfg LLC Cuts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Tsfg LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,320 shares of the company’s stock after selling 177 shares during the quarter. AbbVie accounts for approximately 4.3% of Tsfg LLC’s investment portfolio, making the stock its 4th largest holding. Tsfg LLC’s holdings in AbbVie were worth $18,236,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of AbbVie in the 4th quarter worth $26,000. Able Wealth Management LLC bought a new stake in shares of AbbVie in the fourth quarter valued at about $33,000. IFS Advisors LLC purchased a new stake in AbbVie in the first quarter worth about $36,000. Ables Iannone Moore & Associates Inc. bought a new position in AbbVie during the 4th quarter worth about $37,000. Finally, Redmont Wealth Advisors LLC purchased a new position in AbbVie during the 1st quarter valued at about $37,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Performance

NYSE:ABBV traded up $1.71 during trading hours on Wednesday, hitting $192.94. 4,153,375 shares of the company were exchanged, compared to its average volume of 5,552,938. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $193.91. The stock has a market capitalization of $340.71 billion, a price-to-earnings ratio of 57.04, a PEG ratio of 2.49 and a beta of 0.64. The company’s 50 day moving average price is $174.52 and its 200-day moving average price is $171.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 186.82%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same period in the previous year, the firm posted $2.91 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, research analysts forecast that AbbVie Inc. will post 10.87 earnings per share for the current year.

AbbVie Announces Dividend

The company 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 $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio is presently 183.98%.

Insider Transactions at AbbVie

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ABBV. Barclays upped their price target on shares of AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Morgan Stanley upped their target price on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday. Truist Financial reiterated a “buy” rating and issued a $210.00 price target (up from $195.00) on shares of AbbVie in a report on Friday, July 26th. Wells Fargo & Company upped their price objective on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, BMO Capital Markets raised their price objective on AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average price target of $190.29.

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.