Adams Asset Advisors LLC Cuts Stock Holdings in AbbVie Inc. $ABBV

Adams Asset Advisors LLC lowered its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 10.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,429 shares of the company's stock after selling 7,126 shares during the quarter. AbbVie accounts for 1.7% of Adams Asset Advisors LLC's investment portfolio, making the stock its 16th largest holding. Adams Asset Advisors LLC's holdings in AbbVie were worth $11,774,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of ABBV. TD Capital Management LLC lifted its position 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 bought a new stake in AbbVie in the 1st quarter worth about $30,000. Cypress Capital Management LLC WY purchased a new stake in AbbVie in the 1st quarter valued at about $35,000. Pinney & Scofield Inc. bought a new position in shares of AbbVie during the 4th quarter worth approximately $36,000. Finally, Inlight Wealth Management LLC purchased a new position in shares of AbbVie in the 1st quarter worth approximately $42,000. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm's 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 completion of the transaction, the executive vice president directly owned 177,292 shares of the company's stock, valued at $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction on 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 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ABBV shares. Daiwa America raised AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Raymond James Financial restated an "outperform" rating on shares of AbbVie in a research note on Monday, August 25th. Bank of America raised their target price on AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Wells Fargo & Company boosted their price target on shares of AbbVie from $240.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Four analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $217.10.

AbbVie Price Performance

NYSE ABBV opened at $218.40 on Monday. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The company has a market cap of $385.82 billion, a PE ratio of 104.00, a price-to-earnings-growth ratio of 1.40 and a beta of 0.53. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $221.76. The firm's 50-day simple moving average is $200.25 and its two-hundred day simple moving average is $194.45.

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 return on equity of 699.66% and a net margin of 6.45%.The business had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $14.93 billion. During the same quarter in the previous year, the business earned $2.65 EPS. AbbVie's revenue for the quarter was up 6.6% on a year-over-year basis. Research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

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

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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