DCM Advisors LLC Lowers Holdings in AbbVie Inc. $ABBV

Key Points

• DCM Advisors LLC reduced its stake in AbbVie Inc. by 10.4%, now holding 25,856 shares valued at approximately $5.41 million.
• Insider selling occurred, with EVP Azita Saleki-Gerhardt and EVP Nicholas Donoghoe selling 42,370 and 13,295 shares respectively, reflecting significant decreases in their ownership positions.
• Analysts have mixed sentiment on AbbVie, with Citigroup raising its price target to $205 while Morgan Stanley increased theirs to $255, indicating ongoing interest from financial institutions.

DCM Advisors LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 10.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,856 shares of the company's stock after selling 3,017 shares during the period. AbbVie comprises 2.9% of DCM Advisors LLC's holdings, making the stock its 15th biggest holding. DCM Advisors LLC's holdings in AbbVie were worth $5,412,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. TD Capital Management LLC boosted its stake in shares of AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company's stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Abound Financial LLC purchased a new position in AbbVie during the 1st quarter worth $30,000. Siemens Fonds Invest GmbH increased its position in AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after buying an additional 119,141 shares in the last quarter. Cypress Capital Management LLC WY purchased a new position in shares of AbbVie in the 1st quarter valued at approximately $35,000. Finally, Pinney & Scofield Inc. acquired a new stake in AbbVie in the 4th quarter worth approximately $36,000. 70.23% of the stock is currently owned by institutional investors.

Insider Activity at AbbVie

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president owned 58,247 shares of the company's stock, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 177,292 shares of the company's stock, valued at $35,178,278.64. This trade represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company's stock.

AbbVie Trading Up 4.0%

NYSE ABBV traded up $8.45 on Thursday, reaching $220.09. 7,647,202 shares of the company were exchanged, compared to its average volume of 6,489,339. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $221.77. The stock has a market capitalization of $388.80 billion, a P/E ratio of 104.81, a price-to-earnings-growth ratio of 1.35 and a beta of 0.53. The business's fifty day moving average price is $199.67 and its 200 day moving average price is $194.48. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV - Get Free Report) last posted 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). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. During the same quarter in the previous year, the firm earned $2.65 earnings per share. The business's revenue for the quarter was up 6.6% compared to the same quarter last year. Analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie's dividend payout ratio (DPR) is 312.38%.

Analyst Ratings Changes

ABBV has been the topic of a number of recent analyst reports. Piper Sandler began coverage on shares of AbbVie in a research note on Tuesday, August 12th. They set an "overweight" rating and a $231.00 price target on the stock. Guggenheim boosted their price objective on shares of AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a report on Friday, August 1st. Bank of America raised their target price on AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. Daiwa Capital Markets raised AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price target for the company in a research report on Thursday, August 7th. Finally, Morgan Stanley increased their price objective on AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Four analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, AbbVie has an average rating of "Moderate Buy" and an average target price of $214.95.

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.