Centennial Wealth Advisory LLC Sells 65 Shares of AbbVie Inc. $ABBV

Centennial Wealth Advisory LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,044 shares of the company’s stock after selling 65 shares during the quarter. Centennial Wealth Advisory LLC’s holdings in AbbVie were worth $381,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Nuveen LLC acquired a new stake in shares of AbbVie in the first quarter valued at approximately $1,819,154,000. Assenagon Asset Management S.A. raised its position in shares of AbbVie by 550.9% in the second quarter. Assenagon Asset Management S.A. now owns 4,332,054 shares of the company’s stock valued at $804,116,000 after buying an additional 3,666,521 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of AbbVie by 31.6% in the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock valued at $3,068,820,000 after buying an additional 3,519,187 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of AbbVie in the second quarter valued at approximately $581,817,000. Finally, Bessemer Group Inc. raised its position in shares of AbbVie by 147.6% in the first quarter. Bessemer Group Inc. now owns 2,752,953 shares of the company’s stock valued at $576,800,000 after buying an additional 1,641,091 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was 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 in the company, valued at $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

AbbVie Trading Up 1.1%

Shares of AbbVie stock opened at $222.93 on Tuesday. The firm has a market capitalization of $393.82 billion, a PE ratio of 106.16, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The firm’s 50 day moving average is $207.00 and its 200 day moving average is $195.12. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $225.16.

AbbVie (NYSE:ABBV) last announced its quarterly 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). The company 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 company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the firm posted $2.65 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders 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 2.9%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s payout ratio is presently 312.38%.

Analysts Set New Price Targets

ABBV has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on shares of AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Piper Sandler initiated coverage on shares of AbbVie in a research report on Tuesday, August 12th. They issued an “overweight” rating and a $231.00 target price for the company. Berenberg Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating and boosted their target price for the company from $170.00 to $270.00 in a research report on Wednesday, September 17th. Morgan Stanley boosted their target price on shares of AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company boosted their target price on shares of AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $223.45.

About AbbVie

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.