Acima Private Wealth LLC Sells 220 Shares of AbbVie Inc. (NYSE:ABBV)

Acima Private Wealth LLC cut its position in AbbVie Inc. (NYSE:ABBV) by 3.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,811 shares of the company’s stock after selling 220 shares during the quarter. Acima Private Wealth LLC’s holdings in AbbVie were worth $1,168,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of AbbVie by 6.2% during the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after acquiring an additional 9,978,415 shares in the last quarter. Capital International Investors raised its holdings in shares of AbbVie by 6.9% in the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after buying an additional 3,110,601 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of AbbVie by 3.3% during the first quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock worth $5,698,847,000 after buying an additional 992,496 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of AbbVie by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after buying an additional 1,702,415 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of AbbVie in the 4th quarter valued at $3,229,888,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the transaction, the chairman now directly owns 513,099 shares in the company, valued at approximately $89,792,325. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie 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 sale, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were 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 owns 513,099 shares in the company, valued at $89,792,325. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ABBV. Piper Sandler boosted their price target on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Monday, August 5th. Truist Financial reaffirmed a “buy” rating and issued a $210.00 price objective (up from $195.00) on shares of AbbVie in a report on Friday, July 26th. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a report on Wednesday, June 5th. Finally, Morgan Stanley upped their price target on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.64.

AbbVie Price Performance

Shares of NYSE ABBV traded up $1.13 during trading on Friday, hitting $196.31. The company had a trading volume of 3,820,802 shares, compared to its average volume of 5,441,654. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $198.30. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The stock has a fifty day simple moving average of $181.44 and a two-hundred day simple moving average of $173.93. The firm has a market capitalization of $346.66 billion, a price-to-earnings ratio of 58.23, a price-to-earnings-growth ratio of 2.49 and a beta of 0.64.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a return on equity of 186.82% and a net margin of 9.71%. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same period in the previous year, the business earned $2.91 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, research analysts expect that AbbVie Inc. will post 10.87 earnings per share for the current year.

AbbVie Dividend Announcement

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

About AbbVie

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.