AbbVie Inc. (NYSE:ABBV) Shares Sold by Means Investment CO. Inc.

Means Investment CO. Inc. lowered its position in AbbVie Inc. (NYSE:ABBV) by 6.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,554 shares of the company’s stock after selling 1,789 shares during the period. Means Investment CO. Inc.’s holdings in AbbVie were worth $4,726,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in ABBV. Vermillion & White Wealth Management Group LLC purchased a new stake in AbbVie in the 4th quarter worth $26,000. IFS Advisors LLC purchased a new stake in AbbVie in the first quarter valued at $36,000. Redmont Wealth Advisors LLC acquired a new position in shares of AbbVie in the 1st quarter valued at $37,000. Able Wealth Management LLC purchased a new position in shares of AbbVie during the 4th quarter worth $33,000. Finally, Valued Wealth Advisors LLC raised its stake in shares of AbbVie by 111.1% in the 1st quarter. Valued Wealth Advisors LLC now owns 228 shares of the company’s stock valued at $42,000 after acquiring an additional 120 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

AbbVie Price Performance

NYSE ABBV traded up $2.97 during trading hours on Monday, reaching $196.87. The company’s stock had a trading volume of 4,307,844 shares, compared to its average volume of 5,528,060. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The company’s 50-day moving average is $176.05 and its two-hundred day moving average is $172.25. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $197.18. The stock has a market cap of $347.65 billion, a PE ratio of 58.40, a PEG ratio of 2.49 and a beta of 0.64.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping 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 business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same period last year, the company posted $2.91 EPS. The company’s revenue was up 4.3% on a year-over-year basis. Analysts forecast that AbbVie Inc. will post 10.87 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Monday, July 15th. AbbVie’s dividend payout ratio is presently 183.98%.

Analyst Ratings Changes

A number of brokerages recently commented on ABBV. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Barclays lifted their price target on shares of AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Wells Fargo & Company increased their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. BMO Capital Markets raised their price target on AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $190.29.

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.