U.S. Capital Wealth Advisors LLC Decreases Stock Holdings 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 lowered its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 20.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Marshall & Sullivan Inc. WA bought a new stake in shares of AbbVie during the 2nd quarter valued at about $25,000. TD Capital Management LLC boosted its stake in shares of AbbVie by 82.9% during the 1st quarter. TD Capital Management LLC now owns 128 shares of the company's stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Abound Financial LLC bought a new stake in shares of AbbVie during the 1st quarter valued at $30,000. Siemens Fonds Invest GmbH increased its stake in shares of AbbVie by 197.6% in 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. Finally, Cypress Capital Management LLC WY bought a new position in AbbVie in the 1st quarter worth $35,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AbbVie

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. Cantor Fitzgerald raised their price objective on AbbVie from $215.00 to $245.00 and gave the stock an "overweight" rating in a research note on Monday, September 15th. BMO Capital Markets increased their price objective on shares of AbbVie from $215.00 to $240.00 and gave the stock an "outperform" rating in a research note on Friday, September 12th. Bank of America lifted their target price on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. Daiwa America raised AbbVie from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of AbbVie in a research note on Monday, August 25th. Four analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $222.68.

AbbVie Price Performance

ABBV opened at $222.29 on Monday. The business has a fifty day moving average of $203.12 and a 200 day moving average of $194.78. The stock has a market cap of $392.69 billion, a P/E ratio of 105.85, a PEG 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 52-week low of $163.81 and a 52-week high of $223.49.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). The business had revenue of $15.42 billion for 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 firm's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.65 earnings per share. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.0%. AbbVie's dividend payout ratio (DPR) is 312.38%.

About AbbVie

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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