Trilogy Capital Inc. Has $4.01 Million Holdings in AbbVie Inc. $ABBV

Trilogy Capital Inc. reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 21,600 shares of the company’s stock after selling 494 shares during the period. Trilogy Capital Inc.’s holdings in AbbVie were worth $4,009,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Nuveen LLC purchased a new position in AbbVie during the first quarter worth about $1,819,154,000. Assenagon Asset Management S.A. lifted its stake in AbbVie by 550.9% during the second quarter. Assenagon Asset Management S.A. now owns 4,332,054 shares of the company’s stock worth $804,116,000 after purchasing an additional 3,666,521 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of AbbVie by 31.6% during the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock worth $3,068,820,000 after acquiring an additional 3,519,187 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of AbbVie in the second quarter worth $581,817,000. Finally, Bessemer Group Inc. grew its stake in shares of AbbVie by 147.6% in the first quarter. Bessemer Group Inc. now owns 2,752,953 shares of the company’s stock worth $576,800,000 after purchasing an additional 1,641,091 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on ABBV. Piper Sandler assumed coverage on shares of AbbVie in a research note on Tuesday, August 12th. They issued an “overweight” rating and a $231.00 price target for the company. Berenberg Bank raised shares of AbbVie from a “hold” rating to a “buy” rating and lifted their price target for the company from $170.00 to $270.00 in a research report on Wednesday, September 17th. Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Wells Fargo & Company lifted their target price on shares of AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Finally, BMO Capital Markets upped their price target on AbbVie from $215.00 to $240.00 and gave the stock 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 assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.45.

Insider Transactions at AbbVie

In related 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 value of $8,407,055.40. Following the completion of the transaction, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. This trade represents a 19.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction that occurred on Tuesday, August 5th. The shares were 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 of the company’s stock, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

AbbVie Stock Up 3.7%

Shares of ABBV opened at $231.47 on Wednesday. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $232.35. 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 has a market capitalization of $408.91 billion, a PE ratio of 110.22, a price-to-earnings-growth ratio of 1.31 and a beta of 0.53. The business’s 50 day moving average is $207.89 and its 200 day moving average is $195.37.

AbbVie (NYSE:ABBV) last released its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) 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 firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter last year, the business posted $2.65 EPS. AbbVie’s revenue was up 6.6% compared to the same quarter last year. Research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm 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. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a yield of 2.8%. AbbVie’s dividend payout ratio (DPR) is 312.38%.

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.