AbbVie Inc. $ABBV Shares Sold by Smith Chas P & Associates PA Cpas

Smith Chas P & Associates PA Cpas trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.2% in the second quarter, Holdings Channel reports. The fund owned 4,334 shares of the company’s stock after selling 99 shares during the period. Smith Chas P & Associates PA Cpas’ holdings in AbbVie were worth $804,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ABBV. Marshall & Sullivan Inc. WA acquired a new stake in shares of AbbVie in the 2nd quarter valued at approximately $25,000. TD Capital Management LLC lifted its holdings in shares of AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the period. Abound Financial LLC acquired a new stake in shares of AbbVie in the 1st quarter valued at approximately $30,000. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie in the 1st quarter valued at approximately $35,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of AbbVie in the 1st quarter valued at approximately $42,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

NYSE ABBV opened at $222.93 on Tuesday. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $225.16. The company has a market capitalization of $393.82 billion, a P/E ratio of 106.16, a PEG ratio of 1.29 and a beta of 0.53. The business has a 50 day moving average price of $207.00 and a 200 day moving average price of $195.12. 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 released 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). The company 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%.The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.65 EPS. Sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

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 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 yield of 2.9%. AbbVie’s dividend payout ratio (DPR) is presently 312.38%.

Analyst Upgrades and Downgrades

ABBV has been the subject of several recent analyst reports. Wells Fargo & Company raised their price target on AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Evercore ISI raised their price target on AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Bank of America raised their price target on AbbVie to $204.00 and gave the company a “hold” rating in a report on Monday, June 9th. Morgan Stanley raised their price target on AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, BMO Capital Markets raised their price objective on AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $223.45.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s 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 completion of the transaction, the executive vice president owned 177,292 shares of the company’s stock, valued at approximately $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 accessible through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction 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 transaction, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

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.