International Assets Investment Management LLC Cuts Stock Holdings in AbbVie Inc. $ABBV

International Assets Investment Management LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,535 shares of the company’s stock after selling 807 shares during the quarter. International Assets Investment Management LLC’s holdings in AbbVie were worth $3,440,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. FF Advisors LLC grew its holdings in shares of AbbVie by 3.6% during the second quarter. FF Advisors LLC now owns 1,539 shares of the company’s stock worth $286,000 after purchasing an additional 53 shares in the last quarter. Private Management Group Inc. grew its holdings in shares of AbbVie by 1.9% during the first quarter. Private Management Group Inc. now owns 2,938 shares of the company’s stock worth $616,000 after purchasing an additional 54 shares in the last quarter. LifeSteps Financial Inc. grew its holdings in shares of AbbVie by 0.7% during the second quarter. LifeSteps Financial Inc. now owns 7,358 shares of the company’s stock worth $1,366,000 after purchasing an additional 54 shares in the last quarter. Silicon Valley Capital Partners boosted its stake in AbbVie by 10.8% in the first quarter. Silicon Valley Capital Partners now owns 573 shares of the company’s stock worth $118,000 after buying an additional 56 shares in the last quarter. Finally, Seneca House Advisors boosted its stake in AbbVie by 2.7% in the second quarter. Seneca House Advisors now owns 2,093 shares of the company’s stock worth $388,000 after buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $229.66 on Friday. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $244.81. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The business has a fifty day moving average price of $217.91 and a 200-day moving average price of $197.55. The company has a market capitalization of $405.71 billion, a PE ratio of 109.36, a PEG ratio of 1.43 and a beta of 0.51.

AbbVie (NYSE:ABBVGet Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter in the previous year, the business earned $2.65 earnings per share. AbbVie’s revenue was up 6.6% compared to the same quarter last year. As a group, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.9%. AbbVie’s dividend payout ratio (DPR) is 312.38%.

Insider Buying and Selling at AbbVie

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

Wall Street Analyst Weigh In

Several analysts have issued reports on ABBV shares. Cantor Fitzgerald set a $250.00 target price on AbbVie and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Raymond James Financial reiterated an “outperform” rating and issued a $250.00 price objective (up previously from $236.00) on shares of AbbVie in a research report on Friday. Erste Group Bank downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Tuesday, October 14th. Guggenheim boosted their price objective on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Morgan Stanley boosted their price objective on AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $234.05.

Check Out Our Latest Report on ABBV

AbbVie Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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