LGT Fund Management Co Ltd. Sells 6,285 Shares of AbbVie Inc. (NYSE:ABBV)

LGT Fund Management Co Ltd. trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 29.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,954 shares of the company’s stock after selling 6,285 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in AbbVie were worth $3,133,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Brighton Jones LLC grew its stake 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 in the last quarter. Revolve Wealth Partners LLC grew its stake 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 in the last quarter. Peninsula Wealth LLC grew its stake in shares of AbbVie by 4.1% during the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock worth $242,000 after acquiring an additional 54 shares in the last quarter. Mariner LLC boosted its holdings in shares of AbbVie by 2.4% in the 4th quarter. Mariner LLC now owns 1,082,859 shares of the company’s stock valued at $192,419,000 after buying an additional 25,669 shares during the last quarter. Finally, Cahaba Wealth Management Inc. boosted its holdings in shares of AbbVie by 7.1% in the 4th quarter. Cahaba Wealth Management Inc. now owns 3,500 shares of the company’s stock valued at $622,000 after buying an additional 233 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Performance

Shares of ABBV opened at $198.46 on Tuesday. The company has a market cap of $350.59 billion, a PE ratio of 94.50, a price-to-earnings-growth ratio of 1.27 and a beta of 0.50. 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 stock has a 50-day moving average price of $189.88 and a 200-day moving average price of $191.55. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $218.66.

AbbVie (NYSE:ABBVGet Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The business 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% compared to the same quarter last year. During the same quarter last year, the business posted $2.65 EPS. As a group, equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

Analyst Ratings Changes

Several equities research analysts have recently commented on ABBV shares. Evercore ISI increased their price objective on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Citigroup increased their price objective on AbbVie to $205.00 and gave the company a “hold” rating in a report on Wednesday, June 11th. Raymond James Financial lifted their price objective on shares of AbbVie from $227.00 to $236.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Morgan Stanley upped their price objective on shares of AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Six research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $214.43.

Read Our Latest Analysis on ABBV

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.08% of the company’s stock.

AbbVie Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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