Fort Washington Investment Advisors Inc. OH Has $43.81 Million Stake in AbbVie Inc. (NYSE:ABBV)

Fort Washington Investment Advisors Inc. OH reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 255,438 shares of the company’s stock after selling 2,375 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in AbbVie were worth $43,813,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Ridgewood Investments LLC bought a new position in shares of AbbVie during the 2nd quarter valued at about $27,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of AbbVie during the 4th quarter worth about $26,000. IFS Advisors LLC bought a new position in AbbVie in the first quarter valued at approximately $36,000. Redmont Wealth Advisors LLC bought a new position in shares of AbbVie in the first quarter valued at $37,000. Finally, Able Wealth Management LLC bought a new position in shares of AbbVie in the 4th quarter valued at about $33,000. 70.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ABBV has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research report on Monday, August 5th. Piper Sandler Companies restated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research note on Wednesday, July 3rd. Morgan Stanley boosted their target price on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Piper Sandler upped their price objective on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Barclays increased their price objective on shares of AbbVie from $187.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $191.64.

AbbVie Stock Up 0.5 %

NYSE ABBV traded up $1.07 on Friday, hitting $196.25. 3,820,745 shares of the company were exchanged, compared to its average volume of 5,441,654. The company has a market cap of $346.55 billion, a PE ratio of 58.23, a PEG ratio of 2.49 and a beta of 0.64. The stock has a fifty day moving average of $181.44 and a 200-day moving average of $173.93. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $198.30.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 186.82%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the firm earned $2.91 earnings per share. As a group, analysts forecast that AbbVie Inc. will post 10.87 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were paid a $1.55 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.16%. AbbVie’s payout ratio is presently 183.98%.

Insiders Place Their Bets

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chairman now directly owns 513,099 shares of the company’s stock, valued at $89,792,325. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

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.