Nadler Financial Group Inc. Has $1.65 Million Position in AbbVie Inc. $ABBV

Nadler Financial Group Inc. cut its holdings in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 6.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,884 shares of the company’s stock after selling 586 shares during the quarter. Nadler Financial Group Inc.’s holdings in AbbVie were worth $1,649,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ABBV. Nuveen LLC acquired a new position in shares of AbbVie during the 1st quarter worth approximately $1,819,154,000. Assenagon Asset Management S.A. increased its holdings in shares of AbbVie by 550.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,332,054 shares of the company’s stock worth $804,116,000 after acquiring an additional 3,666,521 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of AbbVie by 31.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock worth $3,068,820,000 after acquiring an additional 3,519,187 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of AbbVie during the 2nd quarter worth approximately $581,817,000. Finally, Bessemer Group Inc. boosted its stake in AbbVie by 147.6% in the 1st quarter. Bessemer Group Inc. now owns 2,752,953 shares of the company’s stock valued at $576,800,000 after purchasing an additional 1,641,091 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

NYSE:ABBV opened at $230.36 on Tuesday. The stock has a fifty day moving average price of $215.50 and a 200-day moving average price of $196.89. The company has a market cap of $406.94 billion, a price-to-earnings ratio of 109.70, a PEG ratio of 1.42 and a beta of 0.51. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81.

AbbVie (NYSE:ABBVGet Free Report) last released its 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 for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.65 earnings per share. As a group, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

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

Insider Buying and Selling at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction 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 directly owned 177,292 shares in the company, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The sale 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 the company’s stock in a transaction on 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 sale, the executive vice president owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. This 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 corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ABBV shares. Daiwa Capital Markets upgraded AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target for the company in a research note on Thursday, August 7th. UBS Group set a $251.00 price target on AbbVie in a research note on Friday, October 3rd. Piper Sandler boosted their price target on AbbVie from $231.00 to $284.00 and gave the company an “overweight” rating in a research note on Friday. Guggenheim boosted their price target on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, Wells Fargo & Company boosted their price target on AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $231.90.

Read Our Latest Stock Report on ABBV

About AbbVie

(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.

Further Reading

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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