Centennial Wealth Advisory LLC Sells 65 Shares of AbbVie Inc. $ABBV

Centennial Wealth Advisory LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,044 shares of the company’s stock after selling 65 shares during the quarter. Centennial Wealth Advisory LLC’s holdings in AbbVie were worth $381,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ABBV. Nuveen LLC bought a new stake in shares of AbbVie in the 1st quarter valued at $1,819,154,000. Assenagon Asset Management S.A. boosted its stake in shares of AbbVie by 550.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,332,054 shares of the company’s stock valued at $804,116,000 after purchasing an additional 3,666,521 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of AbbVie by 31.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock valued at $3,068,820,000 after purchasing an additional 3,519,187 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of AbbVie in the 2nd quarter valued at $581,817,000. Finally, Bessemer Group Inc. boosted its stake in shares of AbbVie by 147.6% in the 1st quarter. Bessemer Group Inc. now owns 2,752,953 shares of the company’s stock valued at $576,800,000 after purchasing an additional 1,641,091 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s 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 completion of the sale, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the company’s 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 completion of the sale, the executive vice president owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

AbbVie Stock Performance

ABBV opened at $222.93 on Tuesday. 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 $207.00 and its two-hundred day moving average price is $195.12. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $225.16. The company has a market cap of $393.82 billion, a price-to-earnings ratio of 106.16, a PEG ratio of 1.29 and a beta of 0.53.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 return on equity of 699.66% and a net margin of 6.45%.The business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same quarter in the previous year, the company posted $2.65 EPS. The business’s quarterly revenue was up 6.6% on a year-over-year basis. On average, analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently issued reports on ABBV. Daiwa Capital Markets upgraded shares of 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. Guggenheim boosted their target price on shares of AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Bank of America boosted their target price on shares of AbbVie to $204.00 and gave the company a “hold” rating in a research report on Monday, June 9th. BMO Capital Markets boosted their target price on shares of AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $223.45.

About AbbVie

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.