Adell Harriman & Carpenter Inc. Sells 3,144 Shares of AbbVie Inc. $ABBV

Adell Harriman & Carpenter Inc. lowered its stake in AbbVie Inc. (NYSE:ABBV) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 167,649 shares of the company’s stock after selling 3,144 shares during the quarter. AbbVie comprises approximately 2.1% of Adell Harriman & Carpenter Inc.’s investment portfolio, making the stock its 14th biggest holding. Adell Harriman & Carpenter Inc.’s holdings in AbbVie were worth $31,119,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. TD Capital Management LLC lifted its stake in AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. Marshall & Sullivan Inc. WA bought a new position in AbbVie in the second quarter valued at approximately $25,000. Abound Financial LLC bought a new position in AbbVie in the first quarter valued at approximately $30,000. Cypress Capital Management LLC WY bought a new position in AbbVie in the first quarter valued at approximately $35,000. Finally, Bear Mountain Capital Inc. lifted its position in shares of 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 in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This trade represents a 18.58% decrease in their position. The SEC filing for this sale provides additional information. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Trading Down 1.0%

ABBV stock opened at $225.24 on Thursday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The company’s 50-day simple moving average is $221.89 and its 200 day simple moving average is $200.31. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81. The company has a market capitalization of $397.90 billion, a PE ratio of 107.26, a price-to-earnings-growth ratio of 1.44 and a beta of 0.51.

AbbVie (NYSE:ABBV) last posted 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 firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the prior year, the company earned $2.65 EPS. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently commented on ABBV shares. Erste Group Bank lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Tuesday, October 14th. Hsbc Global Res lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Finally, Bank of America boosted their target price on shares of AbbVie from $220.00 to $251.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.80.

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.