AbbVie Inc. (NYSE:ABBV) Shares Sold by Prudent Man Advisors LLC

Prudent Man Advisors LLC trimmed its position in AbbVie Inc. (NYSE:ABBVGet Rating) by 1.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,762 shares of the company’s stock after selling 98 shares during the period. Prudent Man Advisors LLC’s holdings in AbbVie were worth $934,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Minot Wealth Management LLC raised its position in shares of AbbVie by 1.2% during the 1st quarter. Minot Wealth Management LLC now owns 66,161 shares of the company’s stock valued at $10,725,000 after buying an additional 800 shares during the period. Oldfather Financial Services LLC purchased a new stake in shares of AbbVie during the 4th quarter valued at approximately $250,000. HHM Wealth Advisors LLC raised its position in shares of AbbVie by 38.7% during the 1st quarter. HHM Wealth Advisors LLC now owns 5,380 shares of the company’s stock valued at $872,000 after buying an additional 1,502 shares during the period. Callahan Advisors LLC raised its position in shares of AbbVie by 0.3% during the 1st quarter. Callahan Advisors LLC now owns 34,192 shares of the company’s stock valued at $5,543,000 after buying an additional 115 shares during the period. Finally, RB Capital Management LLC raised its position in shares of AbbVie by 3.1% during the 1st quarter. RB Capital Management LLC now owns 9,115 shares of the company’s stock valued at $1,478,000 after buying an additional 273 shares during the period. 67.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Vice Chairman Michael Severino sold 100,000 shares of the business’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $150.28, for a total transaction of $15,028,000.00. Following the completion of the transaction, the insider now owns 152,103 shares in the company, valued at $22,858,038.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Henry O. Gosebruch sold 83,960 shares of the business’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $155.00, for a total value of $13,013,800.00. Following the completion of the sale, the executive vice president now directly owns 16,623 shares of the company’s stock, valued at $2,576,565. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Michael Severino sold 100,000 shares of the business’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $150.28, for a total transaction of $15,028,000.00. Following the completion of the sale, the insider now directly owns 152,103 shares of the company’s stock, valued at $22,858,038.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 363,761 shares of company stock worth $55,528,771. Corporate insiders own 0.08% of the company’s stock.

AbbVie Stock Performance

NYSE:ABBV opened at $138.04 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.82 and a debt-to-equity ratio of 3.89. The company has a fifty day simple moving average of $147.52 and a two-hundred day simple moving average of $150.06. The company has a market cap of $243.93 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 3.90 and a beta of 0.70. AbbVie Inc. has a 52 week low of $105.56 and a 52 week high of $175.91.

AbbVie (NYSE:ABBVGet Rating) last issued its earnings results on Friday, July 29th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.06. The firm had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $14.64 billion. AbbVie had a net margin of 22.03% and a return on equity of 157.31%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.11 earnings per share. As a group, equities analysts anticipate that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 15th will be paid a dividend of $1.41 per share. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $5.64 dividend on an annualized basis and a dividend yield of 4.09%. AbbVie’s payout ratio is currently 79.89%.

Analysts Set New Price Targets

Several analysts have recently commented on ABBV shares. BMO Capital Markets lifted their price target on shares of AbbVie from $161.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 25th. Piper Sandler reduced their price target on shares of AbbVie from $160.00 to $155.00 in a research report on Friday, July 29th. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $150.00 target price for the company. in a report on Friday, May 6th. Wells Fargo & Company lifted their target price on shares of AbbVie from $165.00 to $200.00 in a report on Monday, May 2nd. Finally, Morgan Stanley dropped their target price on shares of AbbVie from $191.00 to $188.00 and set an “overweight” rating for the company in a report on Monday, August 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $160.50.

About AbbVie

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AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

See Also

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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