AbbVie Inc. $ABBV Shares Sold by Capricorn Fund Managers Ltd

Key Points

• Capricorn Fund Managers Ltd decreased its holdings in AbbVie Inc. by 8.3% in Q2, now owning 31,394 shares, which represent approximately 2.8% of their portfolio.
• AbbVie reported $2.97 EPS for the last quarter, missing analysts' expectations, despite a 6.6% increase in revenue year-over-year, achieving $15.42 billion.
• The company declared a quarterly dividend of $1.64 per share, which will be paid on November 14th, reflecting a dividend yield of 2.8%.

Capricorn Fund Managers Ltd reduced its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 8.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,394 shares of the company's stock after selling 2,824 shares during the period. AbbVie comprises about 2.8% of Capricorn Fund Managers Ltd's portfolio, making the stock its 15th biggest holding. Capricorn Fund Managers Ltd's holdings in AbbVie were worth $5,827,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Marshall & Sullivan Inc. WA acquired a new position in shares of AbbVie in the 2nd quarter valued at $25,000. TD Capital Management LLC lifted its stake in shares of AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company's stock valued at $27,000 after purchasing an additional 58 shares during the period. Abound Financial LLC acquired a new position in shares of AbbVie in the 1st quarter valued at $30,000. Cypress Capital Management LLC WY acquired a new position in shares of AbbVie in the 1st quarter valued at $35,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of AbbVie in the 1st quarter valued at $42,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

AbbVie stock opened at $234.07 on Friday. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $244.81. The firm has a market capitalization of $413.49 billion, a price-to-earnings ratio of 111.46, a PEG ratio of 1.38 and a beta of 0.51. The company has a fifty day simple moving average of $210.77 and a 200-day simple moving average of $196.01. 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 released its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) 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 previous year, the company earned $2.65 EPS. AbbVie's quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America boosted their price target on shares of AbbVie from $220.00 to $251.00 and gave the stock a "neutral" rating in a report on Friday. JPMorgan Chase & Co. boosted their price target on shares of AbbVie from $200.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Citigroup boosted their price target on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Cantor Fitzgerald boosted their price target on shares of AbbVie from $215.00 to $245.00 and gave the stock an "overweight" rating in a report on Monday, September 15th. Finally, Guggenheim boosted their price target on shares of AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and a consensus target price of $228.22.

Insider Activity

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

AbbVie 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.

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