Birmingham Capital Management Co. Inc. AL lowered its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 15.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,790 shares of the company's stock after selling 4,757 shares during the period. AbbVie makes up about 2.1% of Birmingham Capital Management Co. Inc. AL's investment portfolio, making the stock its 14th biggest position. Birmingham Capital Management Co. Inc. AL's holdings in AbbVie were worth $4,787,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Conning Inc. grew its holdings in AbbVie by 7.1% during the 2nd quarter. Conning Inc. now owns 191,023 shares of the company's stock valued at $35,458,000 after buying an additional 12,690 shares during the last quarter. Dohj LLC grew its holdings in AbbVie by 41.8% during the 2nd quarter. Dohj LLC now owns 4,529 shares of the company's stock valued at $802,000 after buying an additional 1,335 shares during the last quarter. First Hawaiian Bank grew its holdings in AbbVie by 0.8% during the 2nd quarter. First Hawaiian Bank now owns 7,556 shares of the company's stock valued at $1,403,000 after buying an additional 60 shares during the last quarter. Narus Financial Partners LLC grew its holdings in AbbVie by 25.3% during the 1st quarter. Narus Financial Partners LLC now owns 1,988 shares of the company's stock valued at $417,000 after buying an additional 401 shares during the last quarter. Finally, BankPlus Trust Department grew its holdings in AbbVie by 3.3% during the 2nd quarter. BankPlus Trust Department now owns 27,113 shares of the company's stock valued at $5,033,000 after buying an additional 855 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.
AbbVie Trading Up 1.2%
Shares of ABBV opened at $229.66 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The firm has a market capitalization of $405.71 billion, a P/E ratio of 109.36, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The stock's fifty day simple moving average is $217.91 and its 200 day simple moving average is $197.52. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $244.81.
AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). The firm had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company's quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business posted $2.65 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.
AbbVie Announces Dividend
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 2.9%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie's dividend payout ratio (DPR) is 312.38%.
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 firm's stock in a transaction dated Tuesday, August 5th. The shares were 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 0.08% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have commented on ABBV shares. Hsbc Global Res cut AbbVie from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. increased their target price on AbbVie from $200.00 to $235.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Wall Street Zen cut AbbVie from a "buy" rating to a "hold" rating in a report on Saturday, October 11th. HSBC set a $225.00 price objective on AbbVie in a report on Thursday, October 2nd. Finally, Berenberg Bank upgraded AbbVie from a "hold" rating to a "buy" rating and raised their price objective for the stock from $170.00 to $270.00 in a report on Wednesday, September 17th. Two investment 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 data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $234.05.
Get Our Latest Analysis on ABBV
AbbVie Company Profile
(
Free Report)
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.
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