AbbVie Inc. $ABBV Stake Trimmed by Raub Brock Capital Management LP

Raub Brock Capital Management LP cut its position in AbbVie Inc. (NYSE:ABBV) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,352 shares of the company’s stock after selling 3,127 shares during the period. AbbVie accounts for 3.8% of Raub Brock Capital Management LP’s investment portfolio, making the stock its 10th largest holding. Raub Brock Capital Management LP’s holdings in AbbVie were worth $17,514,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. TD Capital Management LLC increased its position 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 purchasing an additional 58 shares during the last quarter. Marshall & Sullivan Inc. WA purchased a new stake in shares of AbbVie in the 2nd quarter valued at approximately $25,000. Abound Financial LLC purchased a new stake in shares of AbbVie in the 1st quarter valued at approximately $30,000. Cypress Capital Management LLC WY purchased a new stake in shares of AbbVie in the 1st quarter valued at approximately $35,000. Finally, Inlight Wealth Management LLC purchased a new stake in shares of AbbVie in the 1st quarter valued at approximately $42,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive vice president owned 58,247 shares in the company, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the executive vice president owned 177,292 shares of the company’s stock, valued at $35,178,278.64. This trade 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 company insiders.

Analysts Set New Price Targets

ABBV has been the topic of a number of recent analyst reports. Daiwa America raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Wells Fargo & Company increased their target price on shares of AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Citigroup increased their target price on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. UBS Group set a $251.00 target price on shares of AbbVie in a research report on Friday. Finally, Hsbc Global Res downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $229.14.

AbbVie Stock Up 1.4%

Shares of NYSE:ABBV opened at $233.42 on Wednesday. The stock has a market cap of $412.35 billion, a P/E ratio of 111.15, a P/E/G ratio of 1.35 and a beta of 0.51. The firm has a fifty day moving average price of $212.45 and a 200 day moving average price of $196.19. 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 Inc. has a 1-year low of $163.81 and a 1-year high of $244.81.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.65 EPS. Sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current 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. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, October 15th. 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.