Humankind Investments LLC Decreases Stock Holdings in AbbVie Inc. $ABBV

Key Points

• Humankind Investments LLC reduced its holdings in AbbVie Inc. by 17.1%, owning 15,191 shares worth approximately $3,183,000 at the end of Q1.
• AbbVie reported earnings of $2.97 per share, missing estimates by $0.27, but had a revenue of $15.42 billion, exceeding expectations of $14.93 billion.
• The company recently announced a quarterly dividend of $1.64 per share, reflecting an annualized payout of $6.56 and a dividend yield of 3.2%.

Humankind Investments LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 17.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,191 shares of the company's stock after selling 3,132 shares during the quarter. AbbVie comprises about 0.8% of Humankind Investments LLC's investment portfolio, making the stock its 16th largest holding. Humankind Investments LLC's holdings in AbbVie were worth $3,183,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ABBV. Brighton Jones LLC increased its holdings in shares of AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after acquiring an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock valued at $1,294,000 after acquiring an additional 3,064 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in AbbVie by 8.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 55,598 shares of the company's stock worth $9,885,000 after buying an additional 4,133 shares during the period. J. Safra Sarasin Holding AG increased its holdings in AbbVie by 99.1% in the 4th quarter. J. Safra Sarasin Holding AG now owns 39,913 shares of the company's stock worth $7,081,000 after buying an additional 19,863 shares during the period. Finally, Steel Grove Capital Advisors LLC increased its holdings in AbbVie by 1.7% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after buying an additional 52 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Price Performance

Shares of NYSE ABBV opened at $205.9930 on Wednesday. The stock has a market capitalization of $363.90 billion, a price-to-earnings ratio of 98.09, a PEG ratio of 1.33 and a beta of 0.50. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The firm's 50 day simple moving average is $191.75 and its 200-day simple moving average is $192.56. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61.

AbbVie (NYSE:ABBV - Get Free Report) last announced its 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 net margin of 6.45% and a return on equity of 699.66%. The business had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.93 billion. During the same quarter last year, the business earned $2.65 EPS. The company's quarterly revenue was up 6.6% on a year-over-year basis. Analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th were given a dividend of $1.64 per share. The ex-dividend date was Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.2%. AbbVie's dividend payout ratio (DPR) is 312.38%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Guggenheim increased their price target on shares of AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Piper Sandler assumed 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. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Finally, Daiwa Capital Markets upgraded shares of AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price target on the stock in a report on Thursday, August 7th. Five 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $214.95.

Insider Buying and Selling

In other AbbVie 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 transaction, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company's stock.

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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