May Hill Capital LLC Trims Holdings in AbbVie Inc. $ABBV

May Hill Capital LLC reduced its stake in AbbVie Inc. (NYSE:ABBV) by 17.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,973 shares of the company’s stock after selling 633 shares during the quarter. May Hill Capital LLC’s holdings in AbbVie were worth $552,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. FF Advisors LLC boosted its position 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 buying an additional 53 shares during the period. Private Management Group Inc. raised its holdings in shares of AbbVie by 1.9% in the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company’s stock valued at $616,000 after buying an additional 54 shares during the period. LifeSteps Financial Inc. lifted its stake in AbbVie by 0.7% during the 2nd quarter. LifeSteps Financial Inc. now owns 7,358 shares of the company’s stock worth $1,366,000 after acquiring an additional 54 shares in the last quarter. Silicon Valley Capital Partners lifted its stake in AbbVie by 10.8% during the 1st quarter. Silicon Valley Capital Partners now owns 573 shares of the company’s stock worth $118,000 after acquiring an additional 56 shares in the last quarter. Finally, Seneca House Advisors boosted its holdings in AbbVie by 2.7% during the 2nd quarter. Seneca House Advisors now owns 2,093 shares of the company’s stock valued at $388,000 after acquiring an additional 56 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 0.0%

AbbVie stock opened at $227.98 on Tuesday. The stock has a market cap of $402.73 billion, a PE ratio of 108.56, a P/E/G ratio of 1.44 and a beta of 0.51. 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 stock’s fifty day moving average is $221.13 and its two-hundred day moving average is $199.58. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $244.81.

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

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 2.9%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio is currently 312.38%.

Insider Buying and Selling

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

Analysts Set New Price Targets

ABBV has been the topic of a number of recent research reports. Erste Group Bank lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research note on Wednesday, October 8th. Berenberg Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating and increased their target price for the stock from $170.00 to $270.00 in a report on Wednesday, September 17th. Raymond James Financial reissued an “outperform” rating and issued a $250.00 price target (up previously from $236.00) on shares of AbbVie in a research report on Friday, October 17th. Finally, Bank of America upped their price objective on AbbVie from $220.00 to $251.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $234.80.

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.