AbbVie Inc. (NYSE:ABBV) Shares Sold by SFE Investment Counsel

SFE Investment Counsel trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,484 shares of the company’s stock after selling 157 shares during the quarter. SFE Investment Counsel’s holdings in AbbVie were worth $5,400,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of AbbVie during the 4th quarter worth $26,000. Ridgewood Investments LLC purchased a new stake in AbbVie during the second quarter worth about $27,000. Able Wealth Management LLC acquired a new position in AbbVie during the fourth quarter worth about $33,000. IFS Advisors LLC purchased a new position in AbbVie in the first quarter valued at about $36,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in shares of AbbVie during the 4th quarter valued at approximately $37,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ABBV has been the topic of a number of research reports. Barclays upped their price target on AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Piper Sandler lifted their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research note on Monday, August 5th. BMO Capital Markets raised their target price on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Finally, William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $191.64.

AbbVie Price Performance

ABBV stock opened at $193.52 on Friday. The stock has a market capitalization of $341.73 billion, a price-to-earnings ratio of 57.42, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95. The stock’s fifty day simple moving average is $183.88 and its 200-day simple moving average is $174.61.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping 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 return on equity of 203.66% and a net margin of 9.71%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned $2.91 EPS. Equities research analysts expect that AbbVie Inc. will post 10.86 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.20%. AbbVie’s dividend payout ratio is currently 183.98%.

Insider Buying and Selling at AbbVie

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

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.