Revisor Wealth Management LLC Sells 126 Shares of AbbVie Inc. $ABBV

Revisor Wealth Management LLC decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,783 shares of the company’s stock after selling 126 shares during the quarter. Revisor Wealth Management LLC’s holdings in AbbVie were worth $739,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABBV. GAMMA Investing LLC boosted its position in shares of AbbVie by 25,841.6% during the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company’s stock worth $2,144,382,000 after acquiring an additional 10,195,284 shares during the last quarter. Nuveen LLC bought a new position in AbbVie during the first quarter valued at $1,819,154,000. Assenagon Asset Management S.A. lifted its position in AbbVie by 550.9% during the second quarter. Assenagon Asset Management S.A. now owns 4,332,054 shares of the company’s stock valued at $804,116,000 after purchasing an additional 3,666,521 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in AbbVie by 31.6% during the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock valued at $3,068,820,000 after purchasing an additional 3,519,187 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in AbbVie during the second quarter valued at $581,817,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.3%

NYSE ABBV opened at $223.09 on Tuesday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The company has a market capitalization of $394.09 billion, a price-to-earnings ratio of 106.23, a price-to-earnings-growth ratio of 1.33 and a beta of 0.53. The company’s 50-day simple moving average is $203.75 and its two-hundred day simple moving average is $194.84. AbbVie Inc. has a one year low of $163.81 and a one year high of $225.16.

AbbVie (NYSE:ABBV) last posted its earnings results 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 net margin of 6.45% and a return on equity of 699.66%. The business had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.93 billion. During the same period last year, the business posted $2.65 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

Wall Street Analyst Weigh In

Several equities analysts have commented on ABBV shares. Guggenheim increased their price objective on shares of AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Raymond James Financial reiterated an “outperform” rating on shares of AbbVie in a research report on Monday, August 25th. Cantor Fitzgerald increased their price objective on shares of AbbVie from $215.00 to $245.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Finally, BMO Capital Markets increased their price objective on shares of AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. Four analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $223.45.

Insider Buying and Selling

In related news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This trade represents a 18.58% decrease in their position. The transaction 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 AbbVie stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the completion of the sale, the executive vice president owned 177,292 shares of the company’s stock, valued at $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

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.