Greenleaf Trust Has $17.33 Million Position in AbbVie Inc. $ABBV

Key Points

• Greenleaf Trust reduced its stake in AbbVie Inc. by 13% during the 2nd quarter, owning 93,367 shares worth $17.33 million as of its latest SEC filing.
• Insider sales at AbbVie included EVP Nicholas Donoghoe and Azita Saleki-Gerhardt, who sold shares worth over $11 million combined, reflecting significant decreases in their holdings.
• AbbVie announced a quarterly dividend of $1.64 per share, which equates to an annualized yield of 2.9%, and has a payout ratio of 312.38%.

Greenleaf Trust decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 13.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,367 shares of the company's stock after selling 13,928 shares during the period. Greenleaf Trust's holdings in AbbVie were worth $17,331,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Marshall & Sullivan Inc. WA acquired a new stake in shares of AbbVie in the 2nd quarter worth about $25,000. TD Capital Management LLC increased its holdings in AbbVie by 82.9% during the 1st quarter. TD Capital Management LLC now owns 128 shares of the company's stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Abound Financial LLC purchased a new stake in shares of AbbVie in the first quarter worth approximately $30,000. Cypress Capital Management LLC WY bought a new position in shares of AbbVie in the first quarter valued at approximately $35,000. Finally, Inlight Wealth Management LLC bought a new position in shares of AbbVie in the first quarter valued at approximately $42,000. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling at AbbVie

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

AbbVie Trading Up 1.1%

NYSE:ABBV opened at $222.93 on Tuesday. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $225.16. The stock's fifty day moving average price is $207.00 and its two-hundred day moving average price is $195.12. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The company has a market cap of $393.82 billion, a P/E ratio of 106.16, a P/E/G ratio of 1.29 and a beta of 0.53.

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

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie's dividend payout ratio is 312.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Morgan Stanley upped their price target on AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Bank of America upped their target price on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. Daiwa Capital Markets raised shares of AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price target on the stock in a research report on Thursday, August 7th. Evercore ISI upped their price objective on shares of AbbVie from $207.00 to $222.00 and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Finally, 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 note on Monday, September 15th. Four analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $223.45.

About AbbVie

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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