Capital & Planning LLC Sells 5,000 Shares of AbbVie Inc. $ABBV

Key Points

• Capital & Planning LLC has significantly reduced its holdings in AbbVie Inc. by **81.2%**, selling 5,000 shares in the second quarter and leaving it with only **1,155 shares** valued at **$214,000**.
• Several institutional investors have increased their stakes in AbbVie, with Vanguard Group owning **173.9 million shares** valued at **$36.4 billion** after a recent acquisition.
• AbbVie has announced a quarterly **dividend of $1.64**, which will be paid on **November 14th**, translating to an **annualized yield of 2.8%**.

Capital & Planning LLC trimmed its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 81.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,155 shares of the company's stock after selling 5,000 shares during the quarter. Capital & Planning LLC's holdings in AbbVie were worth $214,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in AbbVie by 0.5% in the first quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company's stock valued at $36,439,271,000 after buying an additional 845,787 shares during the period. Northern Trust Corp raised its stake in AbbVie by 0.9% in the first quarter. Northern Trust Corp now owns 22,013,920 shares of the company's stock valued at $4,612,357,000 after buying an additional 189,294 shares during the period. Goldman Sachs Group Inc. raised its stake in AbbVie by 31.6% in the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company's stock valued at $3,068,820,000 after buying an additional 3,519,187 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in AbbVie by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,771,854 shares of the company's stock valued at $2,675,959,000 after acquiring an additional 713,148 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in AbbVie by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,413,033 shares of the company's stock valued at $1,972,050,000 after acquiring an additional 45,871 shares during the period. 70.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ABBV. Wells Fargo & Company increased their price target on AbbVie from $240.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, September 12th. Berenberg Bank raised shares of AbbVie from a "hold" rating to a "buy" rating and increased their price objective for the company from $170.00 to $270.00 in a research report on Wednesday, September 17th. Cantor Fitzgerald increased their price objective on shares of AbbVie from $215.00 to $245.00 and gave the company an "overweight" rating in a research report on Monday, September 15th. Evercore ISI increased their price target on shares of AbbVie from $207.00 to $222.00 and gave the company an "outperform" rating in a report on Monday, September 22nd. Finally, Piper Sandler started coverage on shares of AbbVie in a report on Tuesday, August 12th. They issued an "overweight" rating and a $231.00 price target on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and a consensus target price of $223.52.

AbbVie Stock Down 3.0%

Shares of ABBV opened at $236.98 on Friday. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $244.81. The firm's 50 day moving average is $209.90 and its 200-day moving average is $195.87. The stock has a market capitalization of $418.63 billion, a PE ratio of 112.85, a P/E/G ratio of 1.43 and a beta of 0.51. 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 announced its earnings results on Thursday, July 31st. The company reported $2.97 EPS 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 for the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the prior year, the business posted $2.65 earnings per share. The firm's revenue for the quarter was up 6.6% compared to the same quarter last year. Equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be given 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 2.8%. AbbVie's dividend payout ratio (DPR) is presently 312.38%.

Insiders Place Their Bets

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm's stock in a transaction dated 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 directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

AbbVie Company 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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