GW Henssler & Associates Ltd. Trims Stock Holdings in AbbVie Inc. $ABBV

GW Henssler & Associates Ltd. lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,869 shares of the company’s stock after selling 179 shares during the quarter. GW Henssler & Associates Ltd.’s holdings in AbbVie were worth $533,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. LRI Investments LLC grew its position in shares of AbbVie by 1.0% during the second quarter. LRI Investments LLC now owns 15,067 shares of the company’s stock worth $2,797,000 after purchasing an additional 148 shares in the last quarter. Prostatis Group LLC grew its position in shares of AbbVie by 6.0% during the second quarter. Prostatis Group LLC now owns 1,551 shares of the company’s stock worth $288,000 after purchasing an additional 88 shares in the last quarter. Commonwealth Financial Services LLC grew its position in shares of AbbVie by 2.8% during the second quarter. Commonwealth Financial Services LLC now owns 6,402 shares of the company’s stock worth $1,188,000 after purchasing an additional 175 shares in the last quarter. Orca Investment Management LLC grew its position in shares of AbbVie by 1.9% during the second quarter. Orca Investment Management LLC now owns 4,864 shares of the company’s stock worth $903,000 after purchasing an additional 93 shares in the last quarter. Finally, CWM LLC grew its position in shares of AbbVie by 4.6% during the second quarter. CWM LLC now owns 323,383 shares of the company’s stock worth $60,026,000 after purchasing an additional 14,132 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

NYSE:ABBV opened at $230.88 on Friday. The firm has a market capitalization of $407.86 billion, a price-to-earnings ratio of 109.94, a PEG ratio of 1.35 and a beta of 0.51. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $244.81. The business has a 50 day simple moving average of $214.84 and a 200-day simple moving average of $196.76. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. AbbVie’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.65 earnings per share. Equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 312.38%.

Insider Activity at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This trade represents a 18.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the sale, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ABBV. Hsbc Global Res cut AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Wall Street Zen cut AbbVie from a “buy” rating to a “hold” rating in a research report on Saturday. Evercore ISI increased their price target on AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. BMO Capital Markets increased their price target on AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Finally, HSBC set a $225.00 price target on AbbVie in a research note on Thursday, October 2nd. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average target price of $231.90.

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.