AbbVie Inc. $ABBV Holdings Decreased by Seros Financial LLC

Seros Financial LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 8.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,125 shares of the company’s stock after selling 110 shares during the quarter. Seros Financial LLC’s holdings in AbbVie were worth $209,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ABBV. Marshall & Sullivan Inc. WA bought a new stake in shares of AbbVie during the second quarter valued at about $25,000. TD Capital Management LLC raised its stake in shares of AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Abound Financial LLC bought a new stake in shares of AbbVie during the first quarter valued at about $30,000. Cypress Capital Management LLC WY bought a new stake in shares of AbbVie during the first quarter valued at about $35,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of AbbVie during the first quarter valued at about $42,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Down 3.0%

Shares of ABBV opened at $236.98 on Friday. The business’s 50-day moving average price is $209.90 and its 200 day moving average price is $195.87. The stock has a market capitalization of $418.63 billion, a P/E ratio of 112.85, a P/E/G ratio of 1.43 and a beta of 0.51. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $244.81. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBVGet Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share 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 analysts’ expectations of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.65 EPS. Analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s payout ratio is 312.38%.

Insider Activity

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction dated 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 transaction, the executive vice president owned 177,292 shares of the company’s stock, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction dated 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 transaction, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several research reports. Morgan Stanley boosted their price target on shares of AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Wells Fargo & Company boosted their price target on shares of AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Evercore ISI boosted their price target on shares of AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Hsbc Global Res cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Citigroup boosted their price target on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, June 11th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $223.52.

Check Out Our Latest Stock Report on AbbVie

AbbVie Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBVFree Report).

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.