AbbVie Inc. (NYSE:ABBV) Shares Sold by Asset Dedication LLC

Asset Dedication LLC lessened its position in AbbVie Inc. (NYSE:ABBV) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,376 shares of the company’s stock after selling 403 shares during the period. Asset Dedication LLC’s holdings in AbbVie were worth $3,495,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. American National Bank grew its stake in shares of AbbVie by 4.8% in the fourth quarter. American National Bank now owns 59,392 shares of the company’s stock worth $9,204,000 after purchasing an additional 2,695 shares in the last quarter. AXS Investments LLC increased its stake in AbbVie by 3.3% during the 4th quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock valued at $1,477,000 after buying an additional 307 shares during the period. Mizuho Markets Americas LLC increased its stake in AbbVie by 33.4% during the 4th quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock valued at $4,791,000 after buying an additional 7,737 shares during the period. West Coast Financial LLC lifted its stake in shares of AbbVie by 9.7% in the 1st quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock worth $287,000 after acquiring an additional 140 shares during the period. Finally, FCG Investment Co bought a new position in shares of AbbVie in the first quarter valued at approximately $1,413,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction on 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 transaction, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction 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 transaction, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the company’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 completion of the sale, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Wednesday, June 5th. Morgan Stanley upped their price objective on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, August 12th. William Blair raised AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Wells Fargo & Company boosted their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Piper Sandler raised their price objective on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $191.64.

AbbVie Stock Up 0.3 %

Shares of NYSE:ABBV opened at $193.40 on Friday. The firm has a 50 day simple moving average of $183.88 and a 200 day simple moving average of $174.60. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $199.95. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The company has a market cap of $341.52 billion, a PE ratio of 57.39, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. AbbVie’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.91 earnings per share. As a group, research analysts expect that AbbVie Inc. will post 10.86 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given 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 of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

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.