Bruce G. Allen Investments LLC Sells 332 Shares of AbbVie Inc. $ABBV

Bruce G. Allen Investments LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 12.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,410 shares of the company’s stock after selling 332 shares during the period. Bruce G. Allen Investments LLC’s holdings in AbbVie were worth $447,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ABBV. Brighton Jones LLC lifted its holdings in shares of AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after acquiring an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after acquiring an additional 3,064 shares during the last quarter. Siemens Fonds Invest GmbH lifted its stake in AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after purchasing an additional 119,141 shares during the last quarter. Zurich Insurance Group Ltd FI lifted its stake in AbbVie by 11.7% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 420,327 shares of the company’s stock worth $74,692,000 after purchasing an additional 43,991 shares during the last quarter. Finally, Willis Johnson & Associates Inc. lifted its stake in AbbVie by 9.4% in the fourth quarter. Willis Johnson & Associates Inc. now owns 3,379 shares of the company’s stock worth $600,000 after purchasing an additional 291 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction dated 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 $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s 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 transaction, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $216.27 on Wednesday. The company has a market cap of $382.05 billion, a price-to-earnings ratio of 102.99, a price-to-earnings-growth ratio of 1.40 and a beta of 0.53. The company has a 50-day moving average price of $201.39 and a 200-day moving average price of $194.66. 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 12 month low of $163.81 and a 12 month high of $221.76.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the company posted $2.65 earnings per share. As a group, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS 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 dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio is 312.38%.

Analyst Ratings Changes

Several research firms have weighed in on ABBV. Morgan Stanley boosted their price target on shares of AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. BMO Capital Markets boosted their price target on shares of AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, September 12th. Cantor Fitzgerald boosted their price target on shares of AbbVie from $215.00 to $245.00 and gave the stock an “overweight” rating in a research note on Monday. Bank of America boosted their price target on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a research note on Monday, June 9th. Finally, Daiwa America raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $220.43.

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.