Criteria Caixa S.A.U. Sells 47,822 Shares of AbbVie Inc. $ABBV

Criteria Caixa S.A.U. trimmed its stake in AbbVie Inc. (NYSE:ABBV) by 8.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 495,162 shares of the company’s stock after selling 47,822 shares during the quarter. AbbVie makes up 10.1% of Criteria Caixa S.A.U.’s holdings, making the stock its 3rd largest holding. Criteria Caixa S.A.U.’s holdings in AbbVie were worth $91,912,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Marshall & Sullivan Inc. WA acquired a new position in shares of AbbVie in the 2nd quarter worth $25,000. TD Capital Management LLC grew its holdings in shares of AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Abound Financial LLC acquired a new position in shares of AbbVie in the 1st quarter worth $30,000. Cypress Capital Management LLC WY acquired a new position in shares of AbbVie in the 1st quarter worth $35,000. Finally, Bear Mountain Capital Inc. grew its holdings in shares of AbbVie by 480.6% in the 2nd quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock worth $40,000 after acquiring an additional 173 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on ABBV shares. Hsbc Global Res cut AbbVie from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. HSBC set a $225.00 target price on AbbVie in a research report on Thursday, October 2nd. Guggenheim raised their target price on AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Morgan Stanley raised their target price on AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. raised their target price on AbbVie from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Three investment 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $231.90.

AbbVie Price Performance

ABBV opened at $230.88 on Friday. The stock has a market cap of $407.86 billion, a price-to-earnings ratio of 109.94, a PEG ratio of 1.35 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. The stock has a fifty day moving average price of $214.84 and a 200 day moving average price of $196.76.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 firm had revenue of $15.42 billion for 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%. AbbVie’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.65 EPS. Analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be given 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 2.8%. AbbVie’s payout ratio is currently 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.