AbbVie Inc. $ABBV Shares Sold by Consolidated Planning Corp

Consolidated Planning Corp decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 24.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,305 shares of the company’s stock after selling 422 shares during the quarter. Consolidated Planning Corp’s holdings in AbbVie were worth $242,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Clarity Financial LLC raised its stake in AbbVie by 11.4% during the second quarter. Clarity Financial LLC now owns 202,483 shares of the company’s stock worth $37,585,000 after acquiring an additional 20,704 shares during the period. Woodward Diversified Capital LLC increased its stake in shares of AbbVie by 33.4% in the second quarter. Woodward Diversified Capital LLC now owns 9,011 shares of the company’s stock valued at $1,673,000 after purchasing an additional 2,254 shares during the period. Community Financial Services Group LLC increased its stake in shares of AbbVie by 216.4% in the second quarter. Community Financial Services Group LLC now owns 31,384 shares of the company’s stock valued at $5,826,000 after purchasing an additional 21,464 shares during the period. SOA Wealth Advisors LLC. increased its stake in shares of AbbVie by 24.2% in the second quarter. SOA Wealth Advisors LLC. now owns 17,677 shares of the company’s stock valued at $3,281,000 after purchasing an additional 3,447 shares during the period. Finally, First Pacific Financial increased its stake in shares of AbbVie by 9,635.1% in the second quarter. First Pacific Financial now owns 23,267 shares of the company’s stock valued at $4,319,000 after purchasing an additional 23,028 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 3.0%

Shares of NYSE:ABBV opened at $236.98 on Friday. The stock has a market capitalization of $418.63 billion, a price-to-earnings ratio of 112.85, a PEG ratio of 1.43 and a beta of 0.51. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $244.81. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The company has a 50 day moving average price of $209.90 and a 200 day moving average price of $195.87.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates 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 company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.65 earnings per share. On average, research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 312.38%.

Wall Street Analyst Weigh In

ABBV has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Cantor Fitzgerald raised their price target on shares of AbbVie from $215.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday, September 15th. HSBC set a $225.00 price target on shares of AbbVie in a research note on Thursday. Evercore ISI raised their price target on shares of AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Finally, Daiwa Capital Markets upgraded shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective for the company in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.52.

Insider Buying and Selling

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total transaction 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 trade represents a 19.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the sale, the executive vice president owned 58,247 shares of the company’s stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

AbbVie Company 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.