AbbVie Inc. (NYSE:ABBV) is Mondrian Investment Partners LTD’s 10th Largest Position

Mondrian Investment Partners LTD trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 7.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 843,897 shares of the company’s stock after selling 72,006 shares during the period. AbbVie accounts for 2.5% of Mondrian Investment Partners LTD’s portfolio, making the stock its 10th largest holding. Mondrian Investment Partners LTD’s holdings in AbbVie were worth $156,391,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ABBV. Gilbert & Cook Inc. increased its stake in AbbVie by 9.8% during the 4th quarter. Gilbert & Cook Inc. now owns 9,691 shares of the company’s stock valued at $1,502,000 after purchasing an additional 861 shares in the last quarter. Aveo Capital Partners LLC raised its position in shares of AbbVie by 5.1% in the fourth quarter. Aveo Capital Partners LLC now owns 4,297 shares of the company’s stock valued at $666,000 after buying an additional 210 shares during the last quarter. 9258 Wealth Management LLC raised its position in shares of AbbVie by 1.7% in the fourth quarter. 9258 Wealth Management LLC now owns 16,909 shares of the company’s stock valued at $2,620,000 after buying an additional 283 shares during the last quarter. Gryphon Financial Partners LLC raised its position in shares of AbbVie by 1.9% in the fourth quarter. Gryphon Financial Partners LLC now owns 84,249 shares of the company’s stock valued at $12,972,000 after buying an additional 1,531 shares during the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in shares of AbbVie by 36.6% in the fourth quarter. Hillsdale Investment Management Inc. now owns 1,232 shares of the company’s stock valued at $191,000 after buying an additional 330 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the sale, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the subject of several recent analyst reports. Piper Sandler Companies restated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research report on Wednesday, July 3rd. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research note on Monday, August 5th. Piper Sandler raised their price objective on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company lifted their target price on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $191.64.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $193.50 on Wednesday. The business’s 50-day moving average price is $187.92 and its two-hundred day moving average price is $175.46. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95. The company has a market capitalization of $341.70 billion, a P/E ratio of 57.42, a price-to-earnings-growth ratio of 2.66 and a beta of 0.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.91 EPS. Analysts anticipate that AbbVie Inc. will post 10.86 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.20%. AbbVie’s payout ratio is 183.98%.

AbbVie 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.