AbbVie Inc. $ABBV Shares Sold by Unified Investment Management

Unified Investment Management decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 10.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,634 shares of the company’s stock after selling 200 shares during the quarter. Unified Investment Management’s holdings in AbbVie were worth $303,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Eaton Financial Holdings Company LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth approximately $1,258,000. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its position in shares of AbbVie by 41.5% during the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 32,409 shares of the company’s stock valued at $6,016,000 after buying an additional 9,511 shares in the last quarter. Focused Wealth Management Inc lifted its position in shares of AbbVie by 3.5% during the 2nd quarter. Focused Wealth Management Inc now owns 7,926 shares of the company’s stock valued at $1,471,000 after buying an additional 270 shares in the last quarter. CGN Advisors LLC lifted its position in shares of AbbVie by 5.5% during the 2nd quarter. CGN Advisors LLC now owns 2,157 shares of the company’s stock valued at $400,000 after buying an additional 112 shares in the last quarter. Finally, Christensen King & Associates Investment Services Inc. lifted its position in shares of AbbVie by 13.0% during the 2nd quarter. Christensen King & Associates Investment Services Inc. now owns 1,872 shares of the company’s stock valued at $347,000 after buying an additional 216 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV stock opened at $223.09 on Tuesday. The business has a 50 day moving average price of $203.75 and a 200 day moving average price of $194.84. The stock has a market cap of $394.09 billion, a price-to-earnings ratio of 106.23, a PEG ratio of 1.33 and a beta of 0.53. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $225.16. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV) last posted its 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). The business had revenue of $15.42 billion for 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%.AbbVie’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.65 EPS. Equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the business’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 owned 58,247 shares in the company, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’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 value of $8,407,055.40. Following the completion of the sale, the executive vice president owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ABBV shares. Daiwa America upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Daiwa Capital Markets upgraded AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 target price on the stock in a research report on Thursday, August 7th. BMO Capital Markets raised their price objective on AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, September 12th. Piper Sandler assumed coverage on AbbVie in a report on Tuesday, August 12th. They issued an “overweight” rating and a $231.00 price objective on the stock. Finally, Bank of America raised their price objective on AbbVie to $204.00 and gave the company a “hold” rating in a report on Monday, June 9th. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $223.45.

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.