AbbVie Inc. $ABBV Stock Position Cut by McAdam LLC

McAdam LLC lessened its stake in AbbVie Inc. (NYSE:ABBV) by 9.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,746 shares of the company’s stock after selling 1,662 shares during the period. McAdam LLC’s holdings in AbbVie were worth $3,299,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TD Capital Management LLC lifted its holdings in AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Abound Financial LLC acquired a new stake in AbbVie in the 1st quarter valued at about $30,000. Siemens Fonds Invest GmbH lifted its stake in AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after buying an additional 119,141 shares in the last quarter. Cypress Capital Management LLC WY purchased a new stake in AbbVie during the first quarter valued at about $35,000. Finally, Pinney & Scofield Inc. purchased a new stake in AbbVie during the fourth quarter valued at about $36,000. Institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

AbbVie Price Performance

Shares of ABBV opened at $209.56 on Wednesday. The company has a market capitalization of $370.19 billion, a price-to-earnings ratio of 99.94, a P/E/G ratio of 1.35 and a beta of 0.53. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The business’s 50-day moving average is $198.64 and its 200-day moving average is $194.25.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $14.93 billion. During the same quarter in the prior year, the company posted $2.65 EPS. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.1%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 312.38%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday, June 11th. Daiwa America raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Daiwa Capital Markets raised shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective for the company in a research note on Thursday, August 7th. Guggenheim upped their price objective on shares of AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, Bank of America upped their price objective on shares of AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday, June 9th. Four analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $214.95.

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.