Intrua Financial LLC Cuts Holdings in AbbVie Inc. $ABBV

Key Points

• Intrua Financial LLC reduced its stake in AbbVie Inc. by 7.7%, selling 1,688 shares, leaving it with 20,263 shares valued at $4,245,000.
• AbbVie recently announced a quarterly dividend of $1.64 per share, which will be paid on November 14th, resulting in an annual yield of 3.1%.
• In its latest earnings report, AbbVie posted an EPS of $2.97, missing expectations but achieving $15.42 billion in revenue, a 6.6% increase year-over-year.

Intrua Financial LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 7.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,263 shares of the company's stock after selling 1,688 shares during the quarter. Intrua Financial LLC's holdings in AbbVie were worth $4,245,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. TD Capital Management LLC increased its position in shares of AbbVie by 82.9% during the first 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 acquired a new position in AbbVie during the first quarter worth $30,000. Cypress Capital Management LLC WY acquired a new position in AbbVie during the first quarter worth $35,000. Pinney & Scofield Inc. acquired a new position in AbbVie during the fourth quarter worth $36,000. Finally, Inlight Wealth Management LLC acquired a new position in AbbVie during the first quarter worth $42,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Trading Down 0.8%

Shares of ABBV stock traded down $1.82 on Friday, hitting $218.40. The stock had a trading volume of 4,418,717 shares, compared to its average volume of 4,347,903. 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 firm has a market capitalization of $385.82 billion, a P/E ratio of 104.00, a P/E/G ratio of 1.42 and a beta of 0.53. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $221.76. The company's 50 day moving average price is $200.25 and its 200-day moving average price is $194.52.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). The firm had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. AbbVie's quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.65 EPS. Analysts anticipate 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 issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Wednesday, October 15th. AbbVie's payout ratio is currently 312.38%.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company's stock in a transaction dated 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 owned 177,292 shares in the company, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was 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 trade represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ABBV. Raymond James Financial reissued an "outperform" rating on shares of AbbVie in a research note on Monday, August 25th. Guggenheim upped their price target on AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Daiwa America raised AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. Citigroup upped their price target on AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Finally, BMO Capital Markets upped their price target on AbbVie from $215.00 to $240.00 and gave the company an "outperform" rating in a research note on Friday. Four analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, AbbVie has an average rating of "Moderate Buy" and a consensus price target of $217.10.

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.