Beck Mack & Oliver LLC Sells 3,287 Shares of AbbVie Inc. $ABBV

Key Points

• Beck Mack & Oliver LLC reduced its holdings in AbbVie Inc. by 15.3%, selling 3,287 shares and bringing their total shares to 18,191, valued at approximately $3.81 million.
• Several brokerages have upgraded AbbVie with a consensus rating of "Moderate Buy", and the average price target is set at $214.95 following various analyst evaluations.
• AbbVie recently announced a quarterly dividend of $1.64 per share, resulting in an annualized dividend yield of 3.1%, despite a high dividend payout ratio of 312.38%.

Beck Mack & Oliver LLC lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 15.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,191 shares of the company's stock after selling 3,287 shares during the quarter. Beck Mack & Oliver LLC's holdings in AbbVie were worth $3,811,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ABBV. TD Capital Management LLC raised its position in shares of AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company's stock worth $27,000 after buying an additional 58 shares during the period. Abound Financial LLC bought a new stake in shares of AbbVie during the first quarter valued at approximately $30,000. Siemens Fonds Invest GmbH raised its holdings in shares of AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after acquiring an additional 119,141 shares during the period. Cypress Capital Management LLC WY acquired a new position in shares of AbbVie during the 1st quarter worth about $35,000. Finally, Pinney & Scofield Inc. acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $36,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Up 0.6%

NYSE ABBV traded up $1.23 during trading hours on Tuesday, hitting $211.63. The company's stock had a trading volume of 4,333,622 shares, compared to its average volume of 4,208,400. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The company has a market capitalization of $373.86 billion, a PE ratio of 100.78, a price-to-earnings-growth ratio of 1.35 and a beta of 0.53. The company's 50-day simple moving average is $196.10 and its two-hundred day simple moving average is $193.78. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly 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 company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the previous year, the company earned $2.65 earnings per share. AbbVie's quarterly revenue was up 6.6% on a year-over-year basis. Research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, July 15th were given a $1.64 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.1%. AbbVie's dividend payout ratio is 312.38%.

Insiders Place Their Bets

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the company's stock in a transaction dated 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 transaction, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm'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 transaction of $8,407,055.40. Following the sale, the executive vice president directly owned 177,292 shares of the company's stock, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ABBV shares. BNP Paribas raised shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Daiwa America raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Piper Sandler began coverage on AbbVie in a research report on Tuesday, August 12th. They set an "overweight" rating and a $231.00 target price on the stock. Finally, Citigroup boosted their price objective on AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Four equities research 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 company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $214.95.

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.