Mutual of America Capital Management LLC Sells 3,730 Shares of AbbVie Inc. $ABBV

Key Points

• Mutual of America Capital Management LLC reduced its stake in AbbVie Inc. by 1.7%, selling 3,730 shares and holding 216,604 shares, valued at approximately $40.21 million.
• Insider Selling: Two executive vice presidents sold significant shares recently, with Azita Saleki-Gerhardt selling 42,370 shares and Nicholas Donoghoe selling 13,295 shares, indicating potential shifts in confidence among insiders.
• AbbVie declared a quarterly dividend of $1.64 per share to be paid on November 14th, representing a 2.9% dividend yield, despite a high payout ratio of 312.38%.

Mutual of America Capital Management LLC cut its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 216,604 shares of the company's stock after selling 3,730 shares during the quarter. AbbVie makes up about 0.4% of Mutual of America Capital Management LLC's portfolio, making the stock its 24th largest position. Mutual of America Capital Management LLC's holdings in AbbVie were worth $40,206,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ABBV. Marshall & Sullivan Inc. WA bought a new position in AbbVie during the second quarter worth $25,000. TD Capital Management LLC lifted its stake in shares of AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company's stock valued at $27,000 after buying an additional 58 shares in the last quarter. Abound Financial LLC bought a new position in shares of AbbVie in the first quarter valued at $30,000. Cypress Capital Management LLC WY bought a new position in shares of AbbVie in the first quarter valued at $35,000. Finally, Bear Mountain Capital Inc. lifted its stake in shares of AbbVie by 480.6% in the second quarter. Bear Mountain Capital Inc. now owns 209 shares of the company's stock valued at $40,000 after buying an additional 173 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business's stock in a transaction that occurred on 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 sale, the executive vice president owned 177,292 shares of the company's stock, valued at $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Stock Performance

Shares of ABBV stock opened at $229.66 on Friday. The firm has a market cap of $405.71 billion, a price-to-earnings ratio of 109.36, a P/E/G ratio of 1.43 and a beta of 0.51. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81. The firm's 50-day simple moving average is $217.91 and its two-hundred day simple moving average is $197.55.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business's revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.65 EPS. As a group, equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

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

Analyst Ratings Changes

ABBV has been the topic of a number of recent research reports. UBS Group set a $251.00 price objective on shares of AbbVie in a research note on Friday, October 3rd. Hsbc Global Res downgraded AbbVie from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 1st. Bank of America upped their price target on AbbVie from $220.00 to $251.00 and gave the stock a "neutral" rating in a report on Friday, October 3rd. HSBC set a $225.00 price target on shares of AbbVie in a research report on Thursday, October 2nd. Finally, Wall Street Zen lowered shares of AbbVie from a "buy" rating to a "hold" rating in a research report on Saturday, October 11th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, AbbVie has an average rating of "Moderate Buy" and an average target price of $234.05.

AbbVie 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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