AbbVie Inc. $ABBV Shares Sold by Trilogy Capital Inc.

Trilogy Capital Inc. lessened its position in AbbVie Inc. (NYSE:ABBV) by 2.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 21,600 shares of the company’s stock after selling 494 shares during the period. Trilogy Capital Inc.’s holdings in AbbVie were worth $4,009,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after purchasing an additional 3,401 shares during the period. Revolve Wealth Partners LLC boosted its holdings in AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,064 shares during the last quarter. Marquette Asset Management LLC raised its stake in shares of AbbVie by 122.0% in the 1st quarter. Marquette Asset Management LLC now owns 444 shares of the company’s stock valued at $93,000 after purchasing an additional 244 shares in the last quarter. Merit Financial Group LLC lifted its holdings in AbbVie by 19.9% in the first quarter. Merit Financial Group LLC now owns 59,033 shares of the company’s stock worth $12,369,000 after acquiring an additional 9,807 shares during the last quarter. Finally, Capital Asset Advisory Services LLC raised its position in shares of AbbVie by 7.5% during the 1st quarter. Capital Asset Advisory Services LLC now owns 19,828 shares of the company’s stock worth $4,068,000 after purchasing an additional 1,380 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research reports. Citigroup lifted their price target on AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. BMO Capital Markets increased their price objective on AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. Guggenheim raised their target price on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a report on Friday, August 1st. Bank of America upped their price target on AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Finally, Raymond James Financial restated an “outperform” rating on shares of AbbVie in a report on Monday, August 25th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $223.45.

Insider Buying and Selling

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the company’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 value of $2,639,190.45. Following the sale, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction 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 represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

AbbVie Stock Performance

NYSE:ABBV opened at $231.47 on Wednesday. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $232.35. The stock has a market cap of $408.91 billion, a P/E ratio of 110.22, a PEG ratio of 1.31 and a beta of 0.53. The stock has a 50 day simple moving average of $207.89 and a 200 day simple moving average of $195.37.

AbbVie (NYSE:ABBV) last posted its quarterly 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 company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company’s revenue for the quarter 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. Research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. AbbVie’s dividend payout ratio is currently 312.38%.

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.