Lingohr Asset Management GmbH Has $436,000 Stock Holdings in AbbVie Inc. $ABBV

Key Points

• Lingohr Asset Management GmbH reduced its holdings in AbbVie Inc. by 90.5% during the second quarter, now owning 2,351 shares valued at $436,000.
• AbbVie announced a quarterly dividend of $1.64, with an annual yield of 3.0%, and the payout ratio currently stands at 312.38%.
• Several research firms raised their target prices for AbbVie stock, with Wells Fargo increasing it to $260.00 and maintaining an "overweight" rating.

Lingohr Asset Management GmbH trimmed its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 90.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,351 shares of the company's stock after selling 22,504 shares during the quarter. Lingohr Asset Management GmbH's holdings in AbbVie were worth $436,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Legacy Private Trust Co. grew its holdings in shares of AbbVie by 20.9% during the 2nd quarter. Legacy Private Trust Co. now owns 30,243 shares of the company's stock worth $5,614,000 after purchasing an additional 5,226 shares in the last quarter. Gradient Investments LLC grew its holdings in shares of AbbVie by 5.5% during the 2nd quarter. Gradient Investments LLC now owns 83,810 shares of the company's stock worth $15,557,000 after purchasing an additional 4,369 shares in the last quarter. Gallacher Capital Management LLC grew its holdings in shares of AbbVie by 117.7% during the 2nd quarter. Gallacher Capital Management LLC now owns 2,356 shares of the company's stock worth $437,000 after purchasing an additional 1,274 shares in the last quarter. Cultivar Capital Inc. acquired a new stake in shares of AbbVie during the 2nd quarter worth $352,000. Finally, New Capital Management LP grew its holdings in shares of AbbVie by 2.5% during the 2nd quarter. New Capital Management LP now owns 3,074 shares of the company's stock worth $571,000 after purchasing an additional 74 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the 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 completion of the transaction, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the 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 completion of the transaction, the executive vice president owned 177,292 shares of the company's stock, valued at $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

AbbVie Price Performance

AbbVie stock opened at $218.40 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The company has a market capitalization of $385.82 billion, a PE ratio of 104.00, a P/E/G ratio of 1.40 and a beta of 0.53. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $221.76. The stock has a 50-day moving average price of $200.25 and a two-hundred day moving average price of $194.45.

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

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders 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 annualized dividend and a yield of 3.0%. AbbVie's dividend payout ratio (DPR) is currently 312.38%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ABBV. Citigroup increased their target price on AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Wells Fargo & Company increased their target price on AbbVie from $240.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday. Guggenheim upped their price objective on AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Daiwa Capital Markets upgraded AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price objective for the company in a research report on Thursday, August 7th. Finally, BMO Capital Markets upped their price objective on AbbVie from $215.00 to $240.00 and gave the stock an "outperform" rating in a research report on Friday. Four research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and an average target price of $217.10.

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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