Truvestments Capital LLC lowered its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 40.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,802 shares of the company's stock after selling 9,377 shares during the period. Truvestments Capital LLC's holdings in AbbVie were worth $2,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of ABBV. GAMMA Investing LLC raised its position in AbbVie by 25,841.6% in the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock valued at $2,144,382,000 after purchasing an additional 10,195,284 shares in the last quarter. Nuveen LLC purchased a new position in shares of AbbVie in the 1st quarter valued at about $1,819,154,000. Goldman Sachs Group Inc. increased its holdings in shares of AbbVie by 31.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company's stock valued at $3,068,820,000 after acquiring an additional 3,519,187 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of AbbVie by 27.4% in the 4th quarter. Deutsche Bank AG now owns 9,769,102 shares of the company's stock valued at $1,735,969,000 after acquiring an additional 2,102,273 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of AbbVie by 18.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,058,706 shares of the company's stock valued at $2,142,832,000 after acquiring an additional 1,882,780 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.
Insider Buying and Selling
In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president owned 58,247 shares in the company, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company's stock.
AbbVie Trading Up 0.5%
Shares of ABBV stock opened at $208.51 on Wednesday. The business's fifty day moving average price is $193.64 and its 200 day moving average price is $193.18. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The firm has a market capitalization of $368.35 billion, a PE ratio of 99.29, a P/E/G ratio of 1.33 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61.
AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company's revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.65 EPS. As a group, sell-side analysts forecast 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 was paid on Friday, August 15th. Investors of record on Tuesday, July 15th were issued a $1.64 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.1%. AbbVie's dividend payout ratio is currently 312.38%.
Analyst Ratings Changes
A number of research firms have recently commented on ABBV. Bank of America increased their price objective on AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. BNP Paribas raised AbbVie to a "hold" rating in a report on Thursday, May 8th. Raymond James Financial reissued an "outperform" rating on shares of AbbVie in a report on Monday. Daiwa Capital Markets raised AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price objective for the company in a 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. Five equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $214.95.
Get Our Latest Report on AbbVie
AbbVie Company Profile
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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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