Curi RMB Capital LLC trimmed its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 28.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,151 shares of the company's stock after selling 14,558 shares during the quarter. Curi RMB Capital LLC's holdings in AbbVie were worth $7,574,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the business. Private Management Group Inc. increased its stake in shares of AbbVie by 1.9% in the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock valued at $616,000 after acquiring an additional 54 shares during the last quarter. Connecticut Wealth Management LLC raised its stake in AbbVie by 1.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock valued at $660,000 after purchasing an additional 57 shares in the last quarter. Castle Wealth Management LLC raised its stake in AbbVie by 3.4% during the first quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock worth $361,000 after acquiring an additional 57 shares in the last quarter. High Falls Advisors Inc boosted its holdings in AbbVie by 3.2% in the first quarter. High Falls Advisors Inc now owns 1,863 shares of the company's stock valued at $390,000 after acquiring an additional 57 shares during the last quarter. Finally, Northstar Group Inc. boosted its holdings in shares of AbbVie by 0.7% during the 1st quarter. Northstar Group Inc. now owns 8,512 shares of the company's stock worth $1,783,000 after buying an additional 58 shares in the last quarter. Institutional investors own 70.23% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on ABBV shares. Daiwa Capital Markets upgraded AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price target for the company in a research note on Thursday, August 7th. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Piper Sandler began coverage on AbbVie in a report on Tuesday, August 12th. They set an "overweight" rating and a $231.00 price target for the company. Bank of America upped their price objective on AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Finally, Guggenheim increased their price objective on AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Four 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 company. Based on data from MarketBeat, AbbVie has an average rating of "Moderate Buy" and a consensus target price of $214.95.
Get Our Latest Analysis on AbbVie
Insider Buying and Selling
In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the completion of the sale, the executive vice president owned 177,292 shares of the company's stock, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.08% of the company's stock.
AbbVie Stock Performance
NYSE ABBV traded down $3.32 during trading hours on Monday, hitting $209.24. 2,964,906 shares of the stock were exchanged, compared to its average volume of 6,498,409. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $218.66. 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 $369.63 billion, a price-to-earnings ratio of 99.62, a price-to-earnings-growth ratio of 1.37 and a beta of 0.53. The stock has a 50-day moving average of $197.74 and a 200 day moving average of $194.08.
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 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 company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same period in the prior year, the business earned $2.65 earnings per share. AbbVie's revenue was up 6.6% on a year-over-year basis. As a group, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.
AbbVie Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a yield of 3.1%. AbbVie's dividend payout ratio (DPR) is presently 312.38%.
About AbbVie
(
Free Report)
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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