AbbVie Inc. $ABBV Shares Sold by WBH Advisory Inc.

WBH Advisory Inc. cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 6.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,429 shares of the company’s stock after selling 451 shares during the period. WBH Advisory Inc.’s holdings in AbbVie were worth $1,193,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. FF Advisors LLC boosted its position in shares of AbbVie by 3.6% during the second quarter. FF Advisors LLC now owns 1,539 shares of the company’s stock worth $286,000 after buying an additional 53 shares during the period. Private Management Group Inc. boosted its position in shares of AbbVie by 1.9% during the first quarter. Private Management Group Inc. now owns 2,938 shares of the company’s stock worth $616,000 after buying an additional 54 shares during the period. LifeSteps Financial Inc. boosted its position in shares of AbbVie by 0.7% during the second quarter. LifeSteps Financial Inc. now owns 7,358 shares of the company’s stock worth $1,366,000 after buying an additional 54 shares during the period. Silicon Valley Capital Partners raised its holdings in AbbVie by 10.8% during the first quarter. Silicon Valley Capital Partners now owns 573 shares of the company’s stock worth $118,000 after purchasing an additional 56 shares in the last quarter. Finally, Seneca House Advisors raised its holdings in AbbVie by 2.7% during the second quarter. Seneca House Advisors now owns 2,093 shares of the company’s stock worth $388,000 after purchasing an additional 56 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $232.07 on Tuesday. The company’s fifty day moving average is $218.58 and its two-hundred day moving average is $197.84. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $244.81. The company has a market cap of $409.97 billion, a P/E ratio of 110.51, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same period last year, the firm earned $2.65 earnings per share. AbbVie’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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

Insider Buying and Selling at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’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 transaction, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the transaction, the executive vice president owned 58,247 shares in the company, valued at approximately $11,562,611.97. This represents a 18.58% 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.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Hsbc Global Res cut AbbVie from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Raymond James Financial reissued an “outperform” rating and set a $250.00 target price (up previously from $236.00) on shares of AbbVie in a report on Friday. JPMorgan Chase & Co. boosted their target price on AbbVie from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Cantor Fitzgerald set a $250.00 target price on AbbVie and gave the stock an “overweight” rating in a report on Thursday, October 9th. Finally, Berenberg Bank raised AbbVie from a “hold” rating to a “buy” rating and upped their price target for the company from $170.00 to $270.00 in a report on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $234.80.

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.