Members Trust Co Decreases Position in AbbVie Inc. $ABBV

Members Trust Co decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,347 shares of the company’s stock after selling 197 shares during the quarter. Members Trust Co’s holdings in AbbVie were worth $1,364,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABBV. Brighton Jones LLC lifted its stake in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after buying an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after buying an additional 3,064 shares during the last quarter. GAMMA Investing LLC lifted its stake in AbbVie by 23.8% in the first quarter. GAMMA Investing LLC now owns 48,848 shares of the company’s stock valued at $10,235,000 after buying an additional 9,395 shares during the last quarter. Valmark Advisers Inc. lifted its stake in AbbVie by 14.5% in the first quarter. Valmark Advisers Inc. now owns 9,763 shares of the company’s stock valued at $2,046,000 after buying an additional 1,236 shares during the last quarter. Finally, Walkner Condon Financial Advisors LLC lifted its stake in AbbVie by 7.8% in the first quarter. Walkner Condon Financial Advisors LLC now owns 2,212 shares of the company’s stock valued at $464,000 after buying an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.2%

Shares of ABBV stock opened at $231.48 on Wednesday. The business’s fifty day moving average price is $219.24 and its 200 day moving average price is $198.07. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $244.81. The firm has a market capitalization of $408.93 billion, a PE ratio of 110.23, a P/E/G ratio of 1.45 and a beta of 0.51. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same period in the prior year, the company earned $2.65 EPS. The company’s revenue was up 6.6% on a year-over-year basis. As a group, sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders 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 annualized dividend and a yield of 2.8%. AbbVie’s dividend payout ratio is 312.38%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ABBV shares. Berenberg Bank raised AbbVie from a “hold” rating to a “buy” rating and boosted their target price for the company from $170.00 to $270.00 in a report on Wednesday, September 17th. Hsbc Global Res lowered AbbVie from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. UBS Group set a $251.00 target price on AbbVie in a report on Friday, October 3rd. Piper Sandler boosted their target price on AbbVie from $231.00 to $284.00 and gave the company an “overweight” rating in a report on Friday, October 10th. Finally, Morgan Stanley boosted their target price on AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $234.80.

Insider Buying and Selling at AbbVie

In other AbbVie news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. This trade represents a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate 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.