AbbVie Inc. $ABBV Shares Sold by MBA Advisors LLC

MBA Advisors LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,625 shares of the company’s stock after selling 215 shares during the period. MBA Advisors LLC’s holdings in AbbVie were worth $1,044,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Trivium Point Advisory LLC raised its position in shares of AbbVie by 9.4% during the 2nd quarter. Trivium Point Advisory LLC now owns 10,453 shares of the company’s stock worth $1,940,000 after acquiring an additional 899 shares in the last quarter. Emerald Advisors LLC raised its position in shares of AbbVie by 35.1% during the 2nd quarter. Emerald Advisors LLC now owns 5,935 shares of the company’s stock worth $1,102,000 after acquiring an additional 1,543 shares in the last quarter. Mainsail Financial Group LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth about $210,000. Alliance Wealth Advisors LLC raised its position in shares of AbbVie by 1.1% during the 2nd quarter. Alliance Wealth Advisors LLC now owns 5,099 shares of the company’s stock worth $947,000 after acquiring an additional 57 shares in the last quarter. Finally, G&S Capital LLC increased its position in AbbVie by 1.7% during the second quarter. G&S Capital LLC now owns 18,754 shares of the company’s stock worth $3,481,000 after buying an additional 305 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 1.1%

NYSE:ABBV opened at $222.93 on Tuesday. The firm has a market cap of $393.82 billion, a P/E ratio of 106.16, a PEG ratio of 1.29 and a beta of 0.53. 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 stock’s 50 day simple moving average is $207.00 and its 200-day simple moving average is $195.12. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $225.16.

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

AbbVie Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.9%. AbbVie’s payout ratio is presently 312.38%.

Insider Buying and Selling

In related news, 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 value of $8,407,055.40. Following the sale, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 owned 58,247 shares in the company, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have commented on ABBV. Piper Sandler began coverage on AbbVie in a research report on Tuesday, August 12th. They set an “overweight” rating and a $231.00 price target on the stock. Daiwa Capital Markets raised AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target on the stock in a research report on Thursday, August 7th. Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. lifted their price target on AbbVie from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Finally, Cantor Fitzgerald lifted their price target on AbbVie from $215.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday, September 15th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average target price of $223.45.

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.