Bill Few Associates Inc. Sells 1,052 Shares of AbbVie Inc. $ABBV

Bill Few Associates Inc. cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,729 shares of the company’s stock after selling 1,052 shares during the period. AbbVie accounts for approximately 1.8% of Bill Few Associates Inc.’s investment portfolio, making the stock its 10th biggest holding. Bill Few Associates Inc.’s holdings in AbbVie were worth $6,261,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Marshall & Sullivan Inc. WA acquired a new position in shares of AbbVie in the 2nd quarter valued at $25,000. TD Capital Management LLC increased its position in shares of AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares during the period. Abound Financial LLC acquired a new position in shares of AbbVie in the 1st quarter valued at $30,000. Cypress Capital Management LLC WY acquired a new position in shares of AbbVie in the 1st quarter valued at $35,000. Finally, Bear Mountain Capital Inc. increased its position in shares of AbbVie by 480.6% in the 2nd quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock valued at $40,000 after acquiring an additional 173 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 177,292 shares of the company’s stock, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction dated 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 directly owned 58,247 shares in the company, valued at approximately $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. Corporate insiders own 0.08% of the company’s stock.

AbbVie Price Performance

NYSE:ABBV opened at $230.88 on Monday. AbbVie Inc. has a one year low of $163.81 and a one 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 firm has a market cap of $407.86 billion, a price-to-earnings ratio of 109.94, a PEG ratio of 1.42 and a beta of 0.51. The firm’s fifty day moving average is $214.84 and its two-hundred day moving average is $196.71.

AbbVie (NYSE:ABBV) last posted 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 return on equity of 699.66% and a net margin of 6.45%.The firm had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.93 billion. During the same period in the previous year, the company earned $2.65 earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year. Research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders 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 dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio is presently 312.38%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Hsbc Global Res downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Bank of America upped their target price on AbbVie from $220.00 to $251.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Daiwa Capital Markets raised AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 target price on the stock in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Three equities research 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $231.90.

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.