Analyst IMS Investment Management Services Ltd. Lowers Position in AbbVie Inc. $ABBV

Analyst IMS Investment Management Services Ltd. lessened its stake in AbbVie Inc. (NYSE:ABBV) by 43.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,185 shares of the company’s stock after selling 2,409 shares during the quarter. Analyst IMS Investment Management Services Ltd.’s holdings in AbbVie were worth $591,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. FF Advisors LLC increased its stake in AbbVie by 3.6% in the 2nd quarter. FF Advisors LLC now owns 1,539 shares of the company’s stock worth $286,000 after buying an additional 53 shares during the period. Private Management Group Inc. boosted its holdings in shares of AbbVie by 1.9% in the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company’s stock valued at $616,000 after buying an additional 54 shares in the last quarter. LifeSteps Financial Inc. boosted its holdings in shares of AbbVie by 0.7% in the 2nd quarter. LifeSteps Financial Inc. now owns 7,358 shares of the company’s stock valued at $1,366,000 after buying an additional 54 shares in the last quarter. Silicon Valley Capital Partners boosted its holdings in shares of AbbVie by 10.8% in the 1st quarter. Silicon Valley Capital Partners now owns 573 shares of the company’s stock valued at $118,000 after buying an additional 56 shares in the last quarter. Finally, Seneca House Advisors boosted its stake in AbbVie by 2.7% in the 2nd quarter. Seneca House Advisors now owns 2,093 shares of the company’s stock worth $388,000 after purchasing an additional 56 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In other AbbVie 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 transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction that occurred 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 in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ABBV shares. UBS Group set a $251.00 price target on shares of AbbVie in a research report on Friday, October 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research report on Wednesday, October 8th. BMO Capital Markets upped their target price 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. Piper Sandler boosted their price target on shares of AbbVie from $231.00 to $284.00 and gave the stock an “overweight” rating in a research note on Friday, October 10th. Finally, Wall Street Zen upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Saturday. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $234.80.

AbbVie Trading Down 0.2%

Shares of ABBV stock opened at $227.67 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The stock has a market cap of $402.19 billion, a P/E ratio of 108.41, a P/E/G ratio of 1.44 and a beta of 0.51. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. The business has a fifty day simple moving average of $221.56 and a 200-day simple moving average of $199.96.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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 company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same period in the previous year, the business earned $2.65 EPS. The firm’s revenue was up 6.6% on a year-over-year basis. On average, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 312.38%.

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.