Y.D. More Investments Ltd Sells 141 Shares of AbbVie Inc. (NYSE:ABBV)

Y.D. More Investments Ltd decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 17.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 650 shares of the company’s stock after selling 141 shares during the quarter. Y.D. More Investments Ltd’s holdings in AbbVie were worth $88,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of AbbVie by 0.9% in the first quarter. Geode Capital Management LLC now owns 34,045,021 shares of the company’s stock worth $5,414,143,000 after purchasing an additional 292,512 shares in the last quarter. Morgan Stanley boosted its holdings in AbbVie by 17.9% in the 4th quarter. Morgan Stanley now owns 31,571,750 shares of the company’s stock worth $5,102,311,000 after buying an additional 4,785,277 shares during the period. Moneta Group Investment Advisors LLC grew its stake in AbbVie by 89,097.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock valued at $4,719,514,000 after buying an additional 29,170,366 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in AbbVie by 138.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 21,536,656 shares of the company’s stock valued at $3,432,297,000 after acquiring an additional 12,515,744 shares during the period. Finally, Norges Bank bought a new position in shares of AbbVie in the fourth quarter worth $3,033,348,000. Hedge funds and other institutional investors own 67.86% of the company’s stock.

Insider Activity

In related news, CEO Richard A. Gonzalez sold 18,500 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $149.15, for a total transaction of $2,759,275.00. Following the transaction, the chief executive officer now owns 625,294 shares in the company, valued at approximately $93,262,600.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Piper Sandler boosted their price objective on AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. StockNews.com started coverage on shares of AbbVie in a report on Thursday, August 17th. They issued a “strong-buy” rating on the stock. William Blair initiated coverage on shares of AbbVie in a research note on Tuesday, July 25th. They set a “market perform” rating for the company. TheStreet upgraded shares of AbbVie from a “c+” rating to a “b” rating in a research note on Monday, August 28th. Finally, HSBC began coverage on shares of AbbVie in a research report on Friday, July 14th. They set a “buy” rating and a $167.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $165.79.

AbbVie Stock Up 1.2 %

ABBV opened at $153.93 on Tuesday. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $168.11. The company has a current ratio of 0.89, a quick ratio of 0.77 and a debt-to-equity ratio of 4.33. The business’s 50-day moving average price is $146.42 and its 200-day moving average price is $147.44. The company has a market cap of $271.69 billion, a P/E ratio of 31.67, a P/E/G ratio of 2.79 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 27th. The company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.12. AbbVie had a return on equity of 151.29% and a net margin of 15.50%. The business had revenue of $13.87 billion for the quarter, compared to analysts’ expectations of $13.52 billion. On average, equities analysts expect that AbbVie Inc. will post 11.03 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders 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 payout ratio is 121.81%.

AbbVie Profile

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.