Sava Infond d.o.o. Sells 100 Shares of AbbVie Inc. (NYSE:ABBV)

Sava Infond d.o.o. decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,516 shares of the company’s stock after selling 100 shares during the quarter. Sava Infond d.o.o.’s holdings in AbbVie were worth $2,203,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EnRich Financial Partners LLC grew its position in shares of AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after buying an additional 110 shares in the last quarter. Promus Capital LLC purchased a new position in AbbVie in the fourth quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new position in AbbVie in the fourth quarter valued at about $31,000. Prudent Man Investment Management Inc. purchased a new position in AbbVie in the fourth quarter valued at about $32,000. Finally, Siemens Fonds Invest GmbH grew its stake in AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after purchasing an additional 119,141 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.7%

AbbVie stock opened at $183.92 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 52 week low of $163.52 and a 52 week high of $218.66. The company has a market capitalization of $324.88 billion, a price-to-earnings ratio of 78.26, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50. The stock has a 50-day moving average price of $185.28 and a 200 day moving average price of $187.84.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the previous year, the company posted $2.31 earnings per share. The company’s revenue was up 8.4% compared to the same quarter last year. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.57%. The ex-dividend date is Tuesday, July 15th. AbbVie’s dividend payout ratio is currently 279.15%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ABBV. The Goldman Sachs Group reiterated a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Wells Fargo & Company lifted their target price on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Bank of America lifted their target price on AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday, June 9th. Finally, Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.29.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.08% of the stock is owned by company insiders.

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.