Menora Mivtachim Holdings LTD. lessened its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 28.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,114,813 shares of the company's stock after selling 442,000 shares during the quarter. AbbVie makes up 1.5% of Menora Mivtachim Holdings LTD.'s holdings, making the stock its 20th largest holding. Menora Mivtachim Holdings LTD. owned about 0.06% of AbbVie worth $233,576,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Abound Financial LLC purchased a new stake in AbbVie in the first quarter valued at about $30,000. Cypress Capital Management LLC WY purchased a new stake in AbbVie in the first quarter valued at about $35,000. Pinney & Scofield Inc. purchased a new stake in AbbVie in the fourth quarter valued at about $36,000. Inlight Wealth Management LLC purchased a new stake in AbbVie in the first quarter valued at about $42,000. Finally, HWG Holdings LP purchased a new stake in AbbVie in the first quarter valued at about $42,000. Institutional investors own 70.23% of the company's stock.
Insider Activity
In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction dated 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 represents a 19.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the 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 completion of the transaction, the executive vice president owned 58,247 shares in the company, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on ABBV. BNP Paribas upgraded AbbVie to a "hold" rating in a research note on Thursday, May 8th. Evercore ISI raised their price objective on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Citigroup raised their price objective on AbbVie to $205.00 and gave the stock a "hold" rating in a research note on Wednesday, June 11th. Bank of America raised their price objective on AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. Finally, Morgan Stanley lifted their price target on AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Six research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $214.95.
View Our Latest Report on ABBV
AbbVie Price Performance
ABBV stock opened at $206.65 on Friday. 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 $365.06 billion, a PE ratio of 98.41, a P/E/G ratio of 1.32 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 business's fifty day moving average price is $191.08 and its 200 day moving average price is $192.08.
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. On average, sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.
AbbVie Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were issued a dividend of $1.64 per share. The ex-dividend date was Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.2%. AbbVie's dividend payout ratio is 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.
See Also
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