Prudent Man Advisors LLC Cuts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Prudent Man Advisors LLC lowered its stake in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 1.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,762 shares of the company’s stock after selling 98 shares during the period. Prudent Man Advisors LLC’s holdings in AbbVie were worth $934,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ABBV. Castle Financial & Retirement Planning Associates Inc. purchased a new position in shares of AbbVie in the 4th quarter valued at $25,000. Intelligent Financial Strategies acquired a new stake in AbbVie during the 4th quarter valued at $27,000. Psagot Value Holdings Ltd. Israel grew its holdings in AbbVie by 311.3% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company’s stock valued at $28,000 after purchasing an additional 3,300 shares in the last quarter. Steward Financial Group LLC acquired a new stake in AbbVie during the 4th quarter valued at $30,000. Finally, GoalVest Advisory LLC acquired a new stake in AbbVie during the 1st quarter valued at $33,000. Hedge funds and other institutional investors own 67.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. SVB Leerink assumed coverage on shares of AbbVie in a report on Monday, May 23rd. They set an “underperform” rating and a $140.00 price target for the company. StockNews.com raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Friday, April 8th. Wells Fargo & Company raised their price objective on shares of AbbVie from $165.00 to $200.00 in a report on Monday, May 2nd. Barclays raised their price objective on shares of AbbVie from $150.00 to $174.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 12th. Finally, The Goldman Sachs Group raised their price objective on shares of AbbVie from $122.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, April 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $160.50.

Insider Transactions at AbbVie

In other news, Vice Chairman Michael Severino sold 79,801 shares of the business’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $150.90, for a total value of $12,041,970.90. Following the completion of the sale, the insider now directly owns 152,103 shares in the company, valued at $22,952,342.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Vice Chairman Michael Severino sold 79,801 shares of the business’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $150.90, for a total value of $12,041,970.90. Following the completion of the sale, the insider now directly owns 152,103 shares in the company, valued at $22,952,342.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Henry O. Gosebruch sold 83,960 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $155.00, for a total transaction of $13,013,800.00. Following the completion of the sale, the executive vice president now owns 16,623 shares of the company’s stock, valued at $2,576,565. The disclosure for this sale can be found here. Over the last three months, insiders sold 363,761 shares of company stock worth $55,528,771. 0.08% of the stock is owned by insiders.

AbbVie Price Performance

NYSE ABBV opened at $138.04 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.82 and a debt-to-equity ratio of 3.89. The stock has a market capitalization of $243.93 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 3.90 and a beta of 0.70. The company has a 50 day moving average price of $147.52 and a two-hundred day moving average price of $150.06. AbbVie Inc. has a 12-month low of $105.56 and a 12-month high of $175.91.

AbbVie (NYSE:ABBVGet Rating) last posted its earnings results on Friday, July 29th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $0.06. The firm had revenue of $14.58 billion during the quarter, compared to analysts’ expectations of $14.64 billion. AbbVie had a net margin of 22.03% and a return on equity of 157.31%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $3.11 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 15th will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend is Thursday, July 14th. AbbVie’s dividend payout ratio (DPR) is presently 79.89%.

AbbVie Company Profile

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AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Beh├žet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

See Also

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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