AbbVie Inc. $ABBV Shares Sold by J.Safra Asset Management Corp

J.Safra Asset Management Corp decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,132 shares of the company’s stock after selling 63 shares during the quarter. J.Safra Asset Management Corp’s holdings in AbbVie were worth $753,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Marshall & Sullivan Inc. WA acquired a new stake in AbbVie in the second quarter worth about $25,000. TD Capital Management LLC lifted 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 purchasing an additional 58 shares during the period. Abound Financial LLC acquired a new stake in AbbVie in the first quarter worth about $30,000. Cypress Capital Management LLC WY acquired a new stake in AbbVie in the first quarter worth about $35,000. Finally, Bear Mountain Capital Inc. lifted 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 purchasing an additional 173 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction that occurred 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 transaction, 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 disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

AbbVie Price Performance

Shares of ABBV opened at $230.36 on Tuesday. The company has a market capitalization of $406.94 billion, a price-to-earnings ratio of 109.70, a P/E/G ratio of 1.42 and a beta of 0.51. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The business’s 50-day moving average is $215.50 and its 200-day moving average is $196.89.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.65 EPS. Equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Daiwa America raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a report on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating on shares of AbbVie in a report on Monday, August 25th. Wells Fargo & Company upped their price target 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, Citigroup reissued a “neutral” rating on shares of AbbVie in a report on Monday. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $231.90.

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.