Aletheian Wealth Advisors LLC Sells 237 Shares of AbbVie Inc. $ABBV

Aletheian Wealth Advisors LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 11.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,855 shares of the company’s stock after selling 237 shares during the quarter. Aletheian Wealth Advisors LLC’s holdings in AbbVie were worth $344,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC raised its stake in shares of AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after acquiring an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after acquiring an additional 3,064 shares in the last quarter. Siemens Fonds Invest GmbH raised its stake in shares of AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after acquiring an additional 119,141 shares in the last quarter. Sentinus LLC raised its stake in shares of AbbVie by 1.5% during the fourth quarter. Sentinus LLC now owns 15,788 shares of the company’s stock worth $2,805,000 after acquiring an additional 239 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in shares of AbbVie by 10.4% in the fourth quarter. Toronto Dominion Bank now owns 770,392 shares of the company’s stock worth $136,896,000 after buying an additional 72,515 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ABBV has been the topic of several analyst reports. Bank of America lifted their target price on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a research note on Monday, June 9th. Wells Fargo & Company lifted their target price on shares of AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday. Daiwa America raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Guggenheim lifted their target price on shares of AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Finally, Daiwa Capital Markets raised shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective on the stock in a research report on Thursday, August 7th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $217.10.

Insiders Place Their Bets

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction dated 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV stock opened at $218.40 on Friday. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $221.76. The stock has a market cap of $385.82 billion, a PE ratio of 104.00, a price-to-earnings-growth ratio of 1.42 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 company’s fifty day moving average price is $200.25 and its 200-day moving average price is $194.52.

AbbVie (NYSE:ABBV) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter last year, the firm posted $2.65 EPS. The business’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Wednesday, October 15th. AbbVie’s payout ratio is 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.