AbbVie Inc. $ABBV Shares Sold by Lionshead Wealth Management LLC

Lionshead Wealth Management LLC lowered its stake in AbbVie Inc. (NYSE:ABBV) by 48.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,634 shares of the company’s stock after selling 1,525 shares during the quarter. Lionshead Wealth Management LLC’s holdings in AbbVie were worth $342,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Groupe la Francaise lifted its holdings in AbbVie by 14.1% in the first quarter. Groupe la Francaise now owns 18,910 shares of the company’s stock worth $3,833,000 after purchasing an additional 2,344 shares during the period. Sax Wealth Advisors LLC lifted its holdings in AbbVie by 7.2% in the first quarter. Sax Wealth Advisors LLC now owns 7,070 shares of the company’s stock worth $1,481,000 after purchasing an additional 476 shares during the period. AlphaQuest LLC lifted its holdings in AbbVie by 941.6% in the first quarter. AlphaQuest LLC now owns 11,156 shares of the company’s stock worth $2,337,000 after purchasing an additional 10,085 shares during the period. Leslie Global Wealth LLC lifted its holdings in AbbVie by 2.2% in the first quarter. Leslie Global Wealth LLC now owns 3,333 shares of the company’s stock worth $698,000 after purchasing an additional 72 shares during the period. Finally, Strategies Wealth Advisors LLC acquired a new stake in AbbVie in the first quarter worth about $435,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ABBV. Morgan Stanley upped their price target on shares of AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Raymond James Financial upped their price target on shares of AbbVie from $227.00 to $236.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Piper Sandler started coverage on shares of AbbVie in a report on Tuesday, August 12th. They issued an “overweight” rating and a $231.00 price target for the company. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Finally, Daiwa Capital Markets raised shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target for the company in a report on Thursday, August 7th. Five investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $214.95.

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction dated Tuesday, August 5th. The stock was 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 $11,562,611.97. This represents a 18.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s 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 in the company, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

AbbVie Price Performance

NYSE ABBV opened at $210.2840 on Friday. The stock’s 50-day moving average price is $192.84 and its two-hundred day moving average price is $192.95. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The company has a market cap of $371.48 billion, a PE ratio of 100.14, a PEG ratio of 1.35 and a beta of 0.50. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.AbbVie’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.65 EPS. On average, analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th were issued a $1.64 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.1%. AbbVie’s dividend payout ratio is currently 312.38%.

AbbVie Company 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.