AbbVie Inc. $ABBV Holdings Lowered by Natural Investments LLC

Key Points

• Natural Investments LLC has reduced its holdings in AbbVie Inc. by 8% in the second quarter, selling 3,375 shares, making AbbVie the investor's 9th largest position.
• AbbVie reported earnings of $2.97 per share for the last quarter, falling short of analysts' expectations of $3.24, despite a year-over-year revenue increase of 6.6% to $15.42 billion.
• The company announced a quarterly dividend of $1.64, with an annualized yield of 2.8%, and a significant dividend payout ratio of 312.38%.

Natural Investments LLC decreased its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 8.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,859 shares of the company's stock after selling 3,375 shares during the quarter. AbbVie accounts for about 1.9% of Natural Investments LLC's holdings, making the stock its 9th biggest position. Natural Investments LLC's holdings in AbbVie were worth $7,213,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ABBV. Nuveen LLC purchased a new stake in shares of AbbVie during the 1st quarter worth approximately $1,819,154,000. Assenagon Asset Management S.A. boosted its stake in shares of AbbVie by 550.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,332,054 shares of the company's stock worth $804,116,000 after acquiring an additional 3,666,521 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of AbbVie by 31.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company's stock worth $3,068,820,000 after acquiring an additional 3,519,187 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of AbbVie during the 2nd quarter worth approximately $581,817,000. Finally, Bessemer Group Inc. lifted its stake in AbbVie by 147.6% in the 1st quarter. Bessemer Group Inc. now owns 2,752,953 shares of the company's stock valued at $576,800,000 after buying an additional 1,641,091 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Trading Up 0.1%

Shares of AbbVie stock opened at $230.88 on Friday. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. The firm has a market cap of $407.86 billion, a PE ratio of 109.94, a P/E/G ratio of 1.35 and a beta of 0.51. The business's fifty day moving average is $214.84 and its two-hundred day moving average is $196.79. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.93 billion. During the same period in the prior year, the company earned $2.65 EPS. The company's revenue for the quarter was up 6.6% compared to the same quarter last year. Analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie's dividend payout ratio (DPR) is 312.38%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ABBV shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AbbVie in a research note on Wednesday. UBS Group set a $251.00 target price on AbbVie in a research note on Friday, October 3rd. Hsbc Global Res lowered AbbVie from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 1st. Cantor Fitzgerald set a $250.00 target price on AbbVie and gave the company an "overweight" rating in a research note on Thursday. Finally, Daiwa America raised AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $231.90.

Insider Buying and Selling at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the transaction, the executive vice president directly owned 177,292 shares of the company's stock, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the transaction, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.