Fiduciary Group LLC Sells 286 Shares of AbbVie Inc. (NYSE:ABBV)

Fiduciary Group LLC reduced its stake in AbbVie Inc. (NYSE:ABBV) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,168 shares of the company’s stock after selling 286 shares during the period. Fiduciary Group LLC’s holdings in AbbVie were worth $4,145,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Ridgewood Investments LLC acquired a new position in shares of AbbVie in the 2nd quarter valued at approximately $27,000. Vermillion & White Wealth Management Group LLC acquired a new position in AbbVie during the fourth quarter valued at approximately $26,000. IFS Advisors LLC bought a new stake in AbbVie during the first quarter worth $36,000. Redmont Wealth Advisors LLC acquired a new stake in shares of AbbVie in the 1st quarter valued at $37,000. Finally, Quest Partners LLC increased its stake in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on ABBV shares. BMO Capital Markets lifted their target price on AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. William Blair raised shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research report on Wednesday, June 5th. Truist Financial reiterated a “buy” rating and issued a $210.00 price target (up from $195.00) on shares of AbbVie in a research note on Friday, July 26th. Finally, Morgan Stanley boosted their price objective on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Two research 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $191.64.

AbbVie Stock Up 0.1 %

AbbVie stock opened at $194.18 on Friday. The firm has a market cap of $342.99 billion, a price-to-earnings ratio of 57.62, a PEG ratio of 2.66 and a beta of 0.64. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The firm has a 50 day moving average price of $186.83 and a two-hundred day moving average price of $175.26.

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

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.19%. AbbVie’s dividend payout ratio is currently 183.98%.

Insiders Place Their Bets

In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s 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 completion of the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 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 in the company, valued at $89,792,325. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

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.