U.S. Capital Wealth Advisors LLC Has $12.79 Million Position in AbbVie Inc. $ABBV

Key Points

• U.S. Capital Wealth Advisors LLC reduced its stake in AbbVie Inc. by 20.2%, selling 17,458 shares and holding 68,894 shares valued at approximately $12.79 million.
• Several institutional investors are actively modifying their AbbVie holdings, with 70.23% of the stock currently held by hedge funds and other institutional investors.
• AbbVie recently announced a quarterly dividend of $1.64 per share, equating to an annualized dividend yield of 3.0%.

U.S. Capital Wealth Advisors LLC cut its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 20.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 68,894 shares of the company's stock after selling 17,458 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in AbbVie were worth $12,788,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ABBV. Sweeney & Michel LLC boosted its holdings in shares of AbbVie by 1.6% in the second quarter. Sweeney & Michel LLC now owns 10,036 shares of the company's stock valued at $1,931,000 after acquiring an additional 162 shares during the period. Lewis Asset Management LLC increased its holdings in AbbVie by 8.4% in the second quarter. Lewis Asset Management LLC now owns 11,910 shares of the company's stock valued at $2,211,000 after buying an additional 923 shares in the last quarter. Toth Financial Advisory Corp boosted its stake in shares of AbbVie by 7.3% during the 2nd quarter. Toth Financial Advisory Corp now owns 45,238 shares of the company's stock worth $8,397,000 after acquiring an additional 3,076 shares in the last quarter. Whitener Capital Management Inc. grew its holdings in shares of AbbVie by 1.3% in the 2nd quarter. Whitener Capital Management Inc. now owns 38,871 shares of the company's stock worth $7,215,000 after acquiring an additional 495 shares during the period. Finally, Bank & Trust Co raised its holdings in AbbVie by 1.4% during the second quarter. Bank & Trust Co now owns 5,923 shares of the company's stock worth $1,099,000 after purchasing an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

Insider Activity

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie 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 transaction, the executive vice president directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president owned 58,247 shares of the company's stock, 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. Company insiders own 0.08% of the company's stock.

AbbVie Stock Performance

ABBV stock traded up $0.62 during trading on Monday, reaching $223.09. 5,989,926 shares of the company's stock were exchanged, compared to its average volume of 4,689,837. The firm has a market cap of $394.09 billion, a PE ratio of 106.23, a P/E/G ratio of 1.33 and a beta of 0.53. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $225.16. The company's fifty day moving average price is $203.75 and its 200-day moving average price is $194.84.

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

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued a $1.64 dividend. 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 312.38%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ABBV. Wells Fargo & Company upped their target price on AbbVie from $240.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, September 12th. Daiwa Capital Markets raised shares of AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price objective for the company in a research note on Thursday, August 7th. JPMorgan Chase & Co. boosted their price objective on AbbVie from $200.00 to $235.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 16th. Berenberg Bank raised shares of AbbVie from a "hold" rating to a "buy" rating and boosted their target price for the stock from $170.00 to $270.00 in a research report on Wednesday, September 17th. 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, seventeen have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $223.45.

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.