Ancora Advisors LLC Has $72.08 Million Stock Position in AbbVie Inc. $ABBV

Key Points

• Ancora Advisors LLC reduced its holdings in AbbVie Inc. by 1.9%, now owning 344,028 shares valued at approximately $72.1 million, making it the firm's 12th biggest position.
• Several institutional investors increased their stakes in AbbVie, with TD Capital Management enhancing its holdings by 82.9% during the same quarter.
• AbbVie recently announced a quarterly dividend of $1.64 per share, representing a dividend yield of 3.1% and a payout ratio of 312.38%.

Ancora Advisors LLC decreased its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 344,028 shares of the company's stock after selling 6,610 shares during the period. AbbVie makes up 1.6% of Ancora Advisors LLC's portfolio, making the stock its 12th largest holding. Ancora Advisors LLC's holdings in AbbVie were worth $72,081,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. TD Capital Management LLC grew its stake in shares of AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company's stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Abound Financial LLC acquired a new stake in shares of AbbVie in the first quarter worth $30,000. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie in the first quarter worth $35,000. Pinney & Scofield Inc. acquired a new stake in shares of AbbVie in the fourth quarter worth $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of AbbVie in the first quarter worth $42,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Insiders Place Their Bets

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 sale, the executive vice president directly owned 177,292 shares in the company, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm's 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 sale, 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. Company insiders own 0.25% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on ABBV. Bank of America raised their target price on AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Daiwa America raised AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Daiwa Capital Markets raised AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 target price for the company in a research report on Thursday, August 7th. Piper Sandler began coverage on AbbVie in a research report on Tuesday, August 12th. They issued an "overweight" rating and a $231.00 target price for the company. Finally, Citigroup raised their target price on AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and a consensus price target of $214.95.

AbbVie Price Performance

Shares of NYSE ABBV traded down $0.66 during midday trading on Friday, reaching $212.34. 4,465,366 shares of the company traded hands, compared to its average volume of 4,155,747. The firm has a market cap of $375.11 billion, a PE ratio of 101.11, a PEG ratio of 1.37 and a beta of 0.53. The stock's 50-day simple moving average is $197.74 and its 200-day simple moving average is $194.15. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm's revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.65 earnings per share. As a group, equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be paid a $1.64 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.1%. AbbVie's dividend payout ratio (DPR) is 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.