GW Henssler & Associates Ltd. Sells 179 Shares of AbbVie Inc. $ABBV

GW Henssler & Associates Ltd. trimmed its stake in AbbVie Inc. (NYSE:ABBV) by 5.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,869 shares of the company’s stock after selling 179 shares during the quarter. GW Henssler & Associates Ltd.’s holdings in AbbVie were worth $533,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Marshall & Sullivan Inc. WA bought a new stake in AbbVie in the second quarter worth $25,000. TD Capital Management LLC boosted its holdings in AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Abound Financial LLC bought a new stake in AbbVie in the first quarter worth $30,000. Cypress Capital Management LLC WY bought a new stake in AbbVie in the first quarter worth $35,000. Finally, Bear Mountain Capital Inc. boosted its holdings in AbbVie by 480.6% in the second quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock worth $40,000 after acquiring an additional 173 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Up 0.1%

AbbVie stock opened at $230.88 on Friday. The stock has a market cap of $407.86 billion, a PE ratio of 109.94, a price-to-earnings-growth ratio of 1.35 and a beta of 0.51. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. AbbVie Inc. has a one year low of $163.81 and a one year high of $244.81. The stock has a fifty day moving average of $214.84 and a 200 day moving average of $196.76.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The firm had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.65 EPS. As a group, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio is 312.38%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Bank of America upped their price target on AbbVie from $220.00 to $251.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. Wall Street Zen downgraded AbbVie from a “buy” rating to a “hold” rating in a report on Saturday. UBS Group set a $251.00 price target on AbbVie in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a report on Wednesday. Finally, BMO Capital Markets upped their price target on AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, September 12th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.90.

Insider Transactions at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a 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 dated 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 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 0.25% 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.