AbbVie Inc. (NYSE:ABBV) Shares Sold by Cassia Capital Partners LLC

Cassia Capital Partners LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 5.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,387 shares of the company’s stock after selling 248 shares during the period. AbbVie makes up about 0.6% of Cassia Capital Partners LLC’s investment portfolio, making the stock its 23rd largest position. Cassia Capital Partners LLC’s holdings in AbbVie were worth $866,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in AbbVie by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after acquiring an additional 9,978,415 shares during the period. Capital International Investors boosted its position in AbbVie by 6.9% during the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after acquiring an additional 3,110,601 shares during the period. Capital Research Global Investors lifted its holdings in shares of AbbVie by 3.3% during the 1st quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock valued at $5,698,847,000 after buying an additional 992,496 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of AbbVie by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock valued at $2,620,382,000 after buying an additional 134,239 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of AbbVie by 12.8% during the 1st quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock valued at $1,984,490,000 after buying an additional 1,240,434 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

Shares of NYSE:ABBV traded down $1.65 during trading on Monday, hitting $187.21. 2,055,971 shares of the stock were exchanged, compared to its average volume of 5,285,325. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $199.95. The company has a market capitalization of $330.59 billion, a price-to-earnings ratio of 55.78, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The company’s fifty day simple moving average is $194.44 and its 200-day simple moving average is $177.74. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same quarter last year, the firm earned $2.91 EPS. AbbVie’s revenue for the quarter was up 4.3% compared to the same quarter last year. Sell-side analysts expect that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s payout ratio is presently 183.98%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ABBV. Barclays lifted their price target on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. UBS Group raised their price objective on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Truist Financial raised their price objective on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research note on Monday, August 5th. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research note on Wednesday, July 3rd. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.47.

Insider Activity at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by insiders.

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.