Teamwork Financial Advisors LLC trimmed its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 94.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,208 shares of the company's stock after selling 50,231 shares during the period. Teamwork Financial Advisors LLC's holdings in AbbVie were worth $595,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABBV. TD Capital Management LLC lifted its holdings in AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company's stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Abound Financial LLC acquired a new stake in AbbVie during the 1st quarter worth approximately $30,000. Siemens Fonds Invest GmbH increased its position in AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after purchasing an additional 119,141 shares in the last quarter. Cypress Capital Management LLC WY acquired a new stake in AbbVie during the 1st quarter worth approximately $35,000. Finally, Pinney & Scofield Inc. acquired a new stake in AbbVie during the 4th quarter worth approximately $36,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.
AbbVie Stock Down 0.8%
Shares of ABBV stock traded down $1.82 during mid-day trading on Friday, reaching $218.40. 4,418,717 shares of the company were exchanged, compared to its average volume of 4,347,311. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $221.76. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The company has a market capitalization of $385.82 billion, a P/E ratio of 104.00, a P/E/G ratio of 1.40 and a beta of 0.53. The business's 50 day simple moving average is $200.25 and its 200 day simple moving average is $194.45.
AbbVie (NYSE:ABBV - Get Free Report) last announced 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). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter last year, the business earned $2.65 earnings per share. The business's revenue for the quarter was up 6.6% compared to the same quarter last year. Research analysts predict 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 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 yield of 3.0%. AbbVie's dividend payout ratio (DPR) is 312.38%.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on ABBV. Guggenheim increased their target price on shares of AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Piper Sandler began coverage on shares of AbbVie in a research report on Tuesday, August 12th. They set an "overweight" rating and a $231.00 target price for the company. BMO Capital Markets increased their target price on shares of AbbVie from $215.00 to $240.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Daiwa America raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Four research 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $217.10.
Read Our Latest Stock Analysis on ABBV
Insider Buying and Selling at AbbVie
In related news, EVP Nicholas Donoghoe sold 13,295 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the transaction, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.08% of the company's stock.
AbbVie Profile
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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.
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