Northwest Investment Counselors LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 10.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,185 shares of the company’s stock after selling 137 shares during the period. Northwest Investment Counselors LLC’s holdings in AbbVie were worth $160,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Johnson & White Wealth Management LLC acquired a new stake in shares of AbbVie in the 1st quarter worth about $721,000. Sand Hill Global Advisors LLC increased its holdings in shares of AbbVie by 0.4% in the 1st quarter. Sand Hill Global Advisors LLC now owns 18,755 shares of the company’s stock worth $2,989,000 after acquiring an additional 68 shares during the period. Chesapeake Wealth Management increased its holdings in shares of AbbVie by 21.4% in the 4th quarter. Chesapeake Wealth Management now owns 13,083 shares of the company’s stock worth $2,114,000 after acquiring an additional 2,305 shares during the period. Quintet Private Bank Europe S.A. acquired a new stake in shares of AbbVie in the 1st quarter worth about $6,686,000. Finally, Capital Market Strategies LLC increased its holdings in shares of AbbVie by 5.0% in the 1st quarter. Capital Market Strategies LLC now owns 12,027 shares of the company’s stock worth $1,917,000 after acquiring an additional 575 shares during the period. 67.86% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the stock. HSBC assumed coverage on shares of AbbVie in a research report on Friday, July 14th. They issued a “buy” rating and a $167.00 target price for the company. StockNews.com assumed coverage on shares of AbbVie in a research report on Thursday, August 17th. They issued a “strong-buy” rating for the company. Piper Jaffray Companies increased their target price on shares of AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. TheStreet upgraded shares of AbbVie from a “c+” rating to a “b” rating in a research report on Monday, August 28th. Finally, Piper Sandler increased their target price on shares of AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $165.79.
AbbVie Stock Performance
Shares of ABBV opened at $153.93 on Tuesday. AbbVie Inc. has a one year low of $130.96 and a one year high of $168.11. The company has a 50-day moving average of $146.42 and a two-hundred day moving average of $147.44. The stock has a market cap of $271.69 billion, a price-to-earnings ratio of 31.67, a PEG ratio of 2.79 and a beta of 0.58. The company has a debt-to-equity ratio of 4.33, a current ratio of 0.89 and a quick ratio of 0.77.
AbbVie (NYSE:ABBV – Get Free Report) last announced its earnings results on Thursday, July 27th. The company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.79 by $0.12. AbbVie had a net margin of 15.50% and a return on equity of 151.29%. The company had revenue of $13.87 billion during the quarter, compared to analysts’ expectations of $13.52 billion. On average, equities research analysts expect that AbbVie Inc. will post 11.03 earnings per share for the current year.
AbbVie Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date is Thursday, October 12th. AbbVie’s dividend payout ratio (DPR) is 121.81%.
Insider Transactions at AbbVie
In other news, CEO Richard A. Gonzalez sold 18,500 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $149.15, for a total value of $2,759,275.00. Following the completion of the sale, the chief executive officer now directly owns 625,294 shares of the company’s stock, valued at $93,262,600.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by insiders.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.
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