AbbVie Inc. $ABBV Shares Sold by Investmark Advisory Group LLC

Investmark Advisory Group LLC trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 1.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 25,871 shares of the company’s stock after selling 410 shares during the period. AbbVie accounts for 2.7% of Investmark Advisory Group LLC’s holdings, making the stock its 7th biggest holding. Investmark Advisory Group LLC’s holdings in AbbVie were worth $5,421,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ABBV. Brighton Jones LLC boosted its position in AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after purchasing an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,064 shares during the period. Algert Global LLC boosted its holdings in AbbVie by 9.0% during the fourth quarter. Algert Global LLC now owns 7,922 shares of the company’s stock worth $1,408,000 after buying an additional 651 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in AbbVie by 16.0% during the fourth quarter. CoreCap Advisors LLC now owns 16,358 shares of the company’s stock worth $2,907,000 after buying an additional 2,254 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in AbbVie during the fourth quarter valued at $542,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’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 transaction of $8,407,055.40. Following the completion of the sale, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. This trade represents a 19.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction that occurred on Tuesday, August 5th. The shares were 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of analyst reports. Bank of America upped their price objective on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a research report on Monday, June 9th. Raymond James Financial restated an “outperform” rating on shares of AbbVie in a research note on Monday, August 25th. Daiwa Capital Markets raised AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target for the company in a report on Thursday, August 7th. Piper Sandler began coverage on AbbVie in a research report on Tuesday, August 12th. They set an “overweight” rating and a $231.00 price target on the stock. Finally, Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $214.95.

AbbVie Stock Performance

ABBV opened at $212.77 on Friday. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $218.66. The firm has a market capitalization of $375.87 billion, a PE ratio of 101.32, a PEG ratio of 1.36 and a beta of 0.53. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The firm’s 50-day moving average price is $197.13 and its 200 day moving average price is $194.04.

AbbVie (NYSE:ABBV) last released its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The business had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the business earned $2.65 earnings per share. As a group, sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.1%. The ex-dividend date was Tuesday, July 15th. AbbVie’s payout ratio is presently 312.38%.

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.